Besen sees debt space grow

Jonathan B. Horn, managing partner of The Besen Group NJ and Besen Special Assets, announced a successful first half of 2013.
Along with senior director Samuel P. Boyd, analyst Cristian Oancea and associates Todd Burnaford and Zachary Tuckman, the team was able to trade over 26 individual commercial and residential loans, loan portfolios and REO assets totaling in excess of $150,000,000.
These trades ranged in size from $110,000 up to $21 million, secured by various asset types across all performance classes throughout New Jersey, New York and Florida.
Transactions included a $7.4 million UPB NPL secured by a 190-key hotel which was acquired by a hospitality owner/operator at a discount to the current UPB. The transaction took a total of ten days to complete.
“We are really excited about the near term and future of the debt space as we continue to experience exponential growth,” said Sam Boyd, who is responsible for sourcing new opportunities.
The New Jersey office will celebrate its first anniversary in September of this year.