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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. Originally known as Aspen Capital Partners, 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.
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 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. In June 2012, the bank led by Portland businessman Gordon Sondland purchased a 39,000 square foot commercial property in Portland for 5.5 million dollars.