First Bank Debt Portfolio
PUERTO RICO | UNPAID PRINCIPAL BALANCE: $510 MILLION
CPG acquired over $2.0 billion in distressed assets, comprised of both loans and bank-owned real estate, through four separate off-market transactions with three of the largest banks in Puerto Rico. Loan collateral is comprised of retail, office, warehouse/ industrial, storage, hotel, mixed-use, residential and residual land properties concentrated primarily in the San Juan MSA, Puerto Rico.
CPG Island Servicing is based in San Juan, Puerto Rico and staffed with a team of loan asset management and restructuring professionals. CPGIS handles all loan restructurings, foreclosures, bankruptcies, collections and asset management for the loan portfolios and, together with CPG professionals, handles day-to-day operations, management, sales, leasing, dispositions and development of REO properties. The San Juan team is augmented by CPG’s West Palm Beach office to provide back-office services including reporting, accounting, and selective primary servicing functions.
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