Heritage Global acquires Boston Note Company to expand seller-note business
HGBL•Strategic focus and terms
Strategic focus includes scaling into CRE-backed seller notes, jumbo residential real estate notes, and liquidity for non-performing seller and carryback notes.
Financial terms were not disclosed.
Boston Note to retain brand
Boston Note will operate as “Boston Note, a Heritage Global company,” retaining its brand.
Acquisition expands Financial Assets platform
Heritage Global acquired Boston Note, a nationwide broker and buyer of privately held loans, notes, and mortgages known as seller or carry-back notes.
The deal expands Heritage Global’s Financial Assets platform into seller-note sourcing, building on its earlier DebtX acquisition.
