Aspen Capital
Aspen Capital is a merchant bank in Portland, Oregon. The private merchant bank specializes in loan acquisitions, real estate financing & investment, distressed securities, and hospitality.[1][2] Originally known as Aspen Capital Partners,[3] the bank was once strictly focused on commercial real estate, but entered the residential property market in 2004 by offering loans to homeowners who were nearing foreclosure.[4]
Financial crisis[]
The bank received a strong volume of publicity when housing prices dropped in 2007 and about 45 percent of loans from Aspen Capital fell into foreclosure. Although the company had little say in the housing market during this time, it is now primarily recognized again as a commercial real estate investor. The State of Oregon started an investigation of the lender in 2010 over allegations of violation of consumer protection laws.[5][6]
See also[]
References[]
- ^ Meyers, Sean (February 24, 2008). "As traditional lending slows, mezzanine debt gains favor". American City Business Journals.
- ^ Earnshaw, Aliza (November 16, 2008). "Downturn's upside". American City Business Journals.
- ^ Meisner, Jeff (March 12, 2004). "Portland investors help fund OneEighty Networks". American City Business Journals.
- ^ Frank, Ryan (February 27, 2010). "Foreclosure rescues by Aspen Capital affiliate -- a lender of last resort -- failed nearly half the time". OregonLive.com.
- ^ Frank, Ryan (April 12, 2010). "State regulators open civil investigation into Aspen Capital's mortgage affiliate". The Oregonian.
- ^ Fish, Nick. "Consumer Fraud and Aspen Capital". Portland Online. Portland Housing Bureau.
- Banks based in Oregon
- American companies established in 1987
- Banks established in 1987
- Companies based in Portland, Oregon
- 1987 establishments in Oregon