Bruce Sturman Managing Director

FOR IMMEDIATE RELEASE
Manhattan, New York, United States of America (Free-Press-Release.com) February 25, 2011 --
“We are seeing a shift in banks’ attitude towards cleaning up their legacy books. Extend and pretend cannot go on forever says Bruce Sturman of The Maxal Group a buyer of bank debt secured by Real Estate secured by . We are seeing some banks start to sell loans,” he says.

Bruce Sturman says: “Secondary debt purchases from banks are definitely something considering and we are in discussions with banks about.”

There are more opportunities in mezzanine debt. Before the financial crisis, banks were often happy to lend as much as 85 per cent of a property’s value. That has fallen to nearer 70 per cent, creating a role for subordinated, but higher yielding, mezzanine debt to fill the hole in the capital structure.

“The banks that are still lending are lending in smaller amounts and almost certainly at lower LTVs [loan-to-values] than previously says Mr.Sturman.