Aspen Capital

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Aspen Capital Logo

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][3] Originally known as Aspen Capital Partners,[4] 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.[5]

Financial crisis[edit]

The bank received a strong volume of publicity when housing prices dropped in 2007 and about 45 percent of loans from Aspen Capital fell in to foreclosure. Although the company had little say in the housing market during this time, it is now primary 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.[6][7] In June of 2012, the bank led by Portland businessman Gordon Sondland purchased a 39,000 square foot commercial property in Portland for 5.5 million dollars.[8]

References[edit]

  1. ^ "Home Page". Aspen Capital. Retrieved 19 June 2012. 
  2. ^ Meyers, Sean (February 24, 2008). "As traditional lending slows, mezzanine debt gains favor". Portland Business Journal. Retrieved 20 June 2012. 
  3. ^ Earnshaw, Aliza (November 16, 2008). "Downturn’s upside". Portland Business Journal. Retrieved 20 June 2012. 
  4. ^ Meisner, Jeff (March 12, 2004). "Portland investors help fund OneEighty Networks". Puget Sound Business Journal. Retrieved 20 June 2012. 
  5. ^ Frank, Ryan. "Foreclosure rescues by Aspen Capital affiliate -- a lender of last resort -- failed nearly half the time". Oregon Live. Retrieved 19 June 2012. 
  6. ^ Frank, Ryan (April 12, 2010). "State regulators open civil investigation into Aspen Capital's mortgage affiliate". The Oregonian. Retrieved 20 June 2012. 
  7. ^ Fish, Nick. "Consumer Fraud and Aspen Capital". Portland Online. Portland Housing Bureau. Retrieved 20 June 2012. 
  8. ^ Stratton, Edward. "Aspen Capital Buys 3030 Bldg for $5.5M". CoStar Group. Retrieved 19 June 2012.