Garnet Capital Advisors, a company in the national loan sale market, closed the sale of a credit facility collateralized by a $117 million subprime lease portfolio on behalf of the co-lenders. The sale was prompted by the bankruptcy filing of the originator and initial servicer. The collateral portfolio was comprised of both current and delinquent accounts.

“Garnet has unparalleled expertise in managing loan sales involving bankruptcies, trustee sales and portfolio liquidations, having closed dozens of transactions for billions of dollars in UPB,” Andrew Stumm, managing director at Garnet Capital, said. “As a result, we know the market for these assets and how to structure sales to maximize value.”