by Erika Luitjens | Jul 31, 2014 | Fund News, SIOF Quarterly Newsletter
We had a robust quarter in our Notes Department, selling 33 notes for a gross profit margin of approximately $700k. Our Retail Department also had a very busy quarter, reflected in their strong sales. They closed 130 transactions and many more properties are in...
by Pat Garvey | Apr 30, 2014 | Fund News, SIOF Quarterly Newsletter
Stonecrest Income & Opportunity Fund-1 is continuing to market various segments of our loan portfolio, as evidenced by a recent transaction where we sold both land contract and modified loan pools to the same buyer. One of our sales strategies for SIOF is to group...
by Pat Garvey | Apr 25, 2014 | Fund News, SIOF Quarterly Newsletter
The Stonecrest Income & Opportunity Fund-1 marketed part of our land contract inventory and received three bids from qualified bidders. At the very end of December, we closed the first tranche (eighty-five) of a trade with a firm from Texas. We expect to close a...
by Pat Garvey | Oct 15, 2013 | Fund News, SIOF Quarterly Newsletter
The Stonecrest Income & Opportunity Fund-1 had another solid quarter with profits derived mainly from our retail real estate and non-performing notes sales. We continue to create our own real estate inventory by either foreclosing or convincing borrowers to deed...
by Pat Garvey | Jul 15, 2013 | Fund News, SIOF Quarterly Newsletter
We’ve experienced a very solid second quarter with the asset managers making progress on the non-performing loans they are working out with borrowers. We purchased a handful of smaller pools of non-performing notes in the second quarter and have recently bid on a few...
by Pat Garvey | Apr 15, 2013 | Fund News, SIOF Quarterly Newsletter
The real estate market continues to improve in most parts of the country with the Bay Area being one of the brighter markets. Stonecrest has been working to improve the positioning of our land contracts for their eventual sale next year. The increasing values across...
