Institutional Portfolio/Asset Management

National Land Fund

SunChase's affiliation with the National Land Fund I marks one of the first and most significant transactions of its kind. SunChase formed this joint venture partnership with the US Government in order to maximize revenue and returns from a collection of distressed assets held in federal trust. Named by Institutional Investor Magazine as “Real Estate Deal of the Year”, this transaction was the first time such a large-scale partnership was formed and executed, making SunChase a trailblazer in providing distressed asset relief for the government.

The SunChase team successfully completed the massive NLF due diligence effort and provided the valuations that resulted in winning bids on five of the six pools of real estate and loan assets with book values of approximately $1.4 billion.  As a result, SunChase became the general partner in this private sector/government partnership; and over the ensuing years has successfully managed the disposition of the bulk of the assets -- providing each partner with optimum returns.

 

OTHER RTC TRANSACTIONS

• SunChase participated in other RTC auctions (Southwest I & II), in which it was awarded $91,000,000 in real estate assets
• The SunChase team was awarded the exclusive right to collect on a $370 million portfolio of 1,100 judgments, deficiencies and charge-offs, which had all originated at failed savings and loan associations.
• Through another subsidiary, SunChase negotiated the purchase of a $65 million portfolio of loan assets from First Union Bank in Baltimore, which ultimately netted SunChase a triple-digit return on its investment.
• SunChase also acquired from the RTC a $74 million portfolio of assets previously owned by Great American Federal Savings Association.  These assets were varied, ranging from single family homes and subdivision lots, to the 100-acre plus mixed-use Terra Bay community in South San Francisco, California.