Non-performing loan acquisitions
Normandy’s senior professionals have extensive capital markets experience and relationships that have enabled us to access investments through the ownership and foreclosure of distressed property loans. We were extremely active acquiring these type of investments in the few years after the global financial crisis and have continued to find select opportunities more recently. Many of these opportunities can be sourced off-market and offer compelling risk-adjusted returns when executed in conjunction with Normandy’s operating capabilities. Normandy’s team has invested in distressed loan transactions totaling over $3 billion in gross assets from a variety of sources since 2008. In 2011, Normandy acquired and took over the general partner interests and control of a real estate debt fund managed by a bankrupt sponsor. This yielded the opportunity for Normandy to negotiate loan modifications and workouts or, where accretive, take control of the underlying collateral and at an attractive acquisition basis. The distressed debt program is a subset of Normandy’s Value-Add fund series.