Mariner Grabs Stake In $101M Junk Loans Portfolio

Law360, New York (January 12, 2012, 5:02 PM EST) -- Financial services firm Mariner Holdings LLC’s real estate investment business has acquired a major stake in a $101 million portfolio of loans at a steep discount from the federal government’s store of failed bank assets, marking the second such investment for the firm, Mariner announced Thursday.

Mariner Real Estate Management LLC won the Federal Deposit Insurance Corp. auction, paying $13.6 million for its initial 25 percent stake in the entity the FDIC created to house the portfolio of loans from the Bank of Whitman, which failed...
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