Palisades Financial, a leading real estate investment banking and advisory firm, has acquired a $5.7 million pool of loans from a regional bank on residential real estate properties in the Metropolitan New York area.

The investment was made through the Palisades Regional Investment Fund II (PRIF II). Palisades is aggressively targeting distressed debt in 2008.

"This debt buy is consistent with our strategy of capitalizing on the tremendous illiquidity in the marketplace," said Palisades princial Mark Zurlini. "With capital to invest, Palisades is well positioned to remain highly active in this current market cycle."