The acquired portfolio features an average loan size of $242,330, carrying a weighted average note rate of 3.67% and a loan-to-value ratio of 59%. Citigroup Global Markets Inc. served as the advisor for the auction, with the sale expected to officially close by July 24, 2026. Data from the bidding process shows the cover bid reached 83.76% of the unpaid principal balance.
Under the terms of the agreement, PIMCO must adhere to strict loss mitigation requirements. Buyers are obligated to honor existing loan modifications and provide a structured waterfall of alternatives—including potential principal forgiveness—to any borrowers who may face re-default within five years. These protections ensure that foreclosure remains a last resort for the distressed assets included in the sale.
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