Just got this email saying I needed to take training on quandis for this company. I have never heard of them. Have you?
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Just got this email saying I needed to take training on quandis for this company. I have never heard of them. Have you?
You need to be a member of REO Pro Network to add comments!
Replies
PIMCO has reportedly sold off its US Treasury Portfolio ... Is this REIT their next big play?
I saw Goldman Sachs do the same thing in the early 1990's when they bought loans from the
failed Savings & Loans from the RTC. I was a RTC broker then... I will be watching their actions.
We have currently acquired a pool of approximately 200 assets. There are no fees associated with the initial BPO orders. PIMCO is actively bidding to take over assets and would like you to manage once acquired in your area.
Darlene Delahoyde
Direct: 804-955-1011
Toll Free: 866-239-6466 ex: 5114
7505 Irvine Center Drive
Irvine, CA 92618
ddelahoyde@3pointam.com
AgentInquiries@3PointAM.com
This is just from today's Housingwire:
Wednesday, April 6th, 2011, 8:49 am
Bond giant PIMCO wants REIT status for its latest investment venture.
In a filing with the Securities & Exchange Commission, PIMCO is looking to raise up to $600 million in an initial public offering for the real estate investment trust. The REIT plans to list on the NYSE under the symbol PIMR.
PIMCO REIT will acquire, manage and finance residential and commercial mortgage-backed securities (agency and nonagency), residential and commercial real estate loans, the filing reads. Under REIT status, which offers tax incentives, the PIMCO venture can also invest in other commercial real estate debt, residential and commercial real estate, other real estate-related assets and other financial assets.
Upon completion of this offering and the concurrent private placement described below, PIMCO REIT will first acquire a portfolio of residential mortgage-backed securities, be it from Fannie Mae or Freddie Mac.
PIMCO is based in Newport Beach, Calif. while PIMCO REIT will be based in Delaware. The REIT will access PIMCO's managers and, more importantly, the investor base. However, this greatest strength may also be its greatest risk.
"We are dependent on our manager and its key personnel for our success and upon their access to PIMCO’s investment professionals," the filing states. "We may not find a suitable replacement for our manager if our management agreement is terminated or if key personnel leave the employment of our manager or if PIMCO otherwise becomes unavailable to us."
Credit Suisse, Goldman Sachs and JP Morgan are the lead underwriters on the IPO deal.
"This is our initial public offering and no public market currently exists for our common stock," the filing adds. "Concurrently with the closing of this offering, we expect to sell not less than $10 million of our common stock to certain members of our senior management team and certain other executives of PIMCO and its affiliates in a separate private placement at the initial public offering price per share."
Jose,
Thank you for sharing this.
Now I know for sure that I didn't spend my money for nothing...and I was thinking that this is just another Hedge Fund with a small load.
As I said before, there is a new trend in town...and we should be there.
Isaac Genosar
Gotham REO Realty Inc.
Your New York REO Superheroes
Hi everybody...
I have received the same letter too here in Florida and was doubting, but you saved me 129$ in this formum today....We have to be very careful these days! Thanks to everyone for your inputs!
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