Maybe. Would be good to find evidence of some comparable...

Maybe. Would be good to find evidence of some comparable transactions.

Presumably the debt is securitised and therefore it is bond holders that will take the loss - possible I guess that AJA is effectively bidding against the agents that normally deal in defaults and take a profit from it.

Anyway, interesting article here:
Business Week - Fortress seeks japan properties as sales loom: Mortgages

Sounds positive for Japanese properties, although I wonder whether the benefits will be there for Australasian holders given possibility of offsetting moves in JPY:AUD rate.