The Position
A senior loan in default on an irreplaceable waterfront asset. Offered at a discount to the verified payoff balance.
Seven-Component NPL Anatomy
Every dollar of the payoff balance. Stripped and stacked from the verified payoff statement.
| Component | Description | Amount |
|---|---|---|
| Principal Balance | Outstanding loan principal | $4,285,621.89 |
| Accrued Interest | Interest accrued at 16% default rate | $546,754.00 |
| Late Fees | Contractual late payment fees | $4,647.52 |
| Legal Fees | Lender legal costs | $45,187.69 |
| Rent Receiver Legal | Rent receiver appointment costs | $11,141.30 |
| Discharge Fee | Loan discharge / release fee | $364.50 |
| Total Payoff | Verified as of 05/15/2026 | $4,893,716.90 |
Resolution Projections
$1,904.72 accrues every day. The longer the note sits, the more the buyer acquires.
Accrual modeled at $1,904.72 per diem from the verified 05/15/2026 balance of $4,893,716.90. Shows total note value acquired by the buyer as default interest compounds. Illustrative only — actual balance subject to lender confirmation.
The Bid Process
Three steps. One deadline. Data room opens upon qualified bid acceptance.
Submit Qualified Bid
Submit letter of intent with proposed purchase price and proof of funds through June 16, 2026.
Bid Acceptance
Upon acceptance of a qualified bid, the data room opens with full loan documentation, title, appraisal, and collateral file.
Closing
Note purchase agreement executed. Senior credit position transferred to acquiring party with all lender rights intact.
Waterfront Asset
8-unit multifamily on Biscayne Bay with 80’ private dockage. Represented fully renovated 2024.
$7,549,000 Appraised
Per payoff statement appraisal field. Independent verification recommended prior to bid submission.
~64.8% LTV
$4,893,717 verified payoff against $7,549,000 appraised value. Cushion absorbs meaningful collateral decline.
Non-Performing
Nominal rate 6.74% · currently accruing at 16% default rate · maturity date 02/11/2035.
Rent Receiver Active
Rent receiver in place. Legal fees and receivership costs reflected in verified payoff balance.
Commercial Multifamily
Represented as the only commercial-zoned waterfront parcel in immediate proximity. Confirm with Miami-Dade records.
The Optic Anchor
We do not dress up assets.
We prepare positions so capital can recognize them.
Capital follows attention — not the other way around.