Hold, sell, reposition or refinance? We work with you to develop a clear strategic plan for your commercial real property. Leveraging our firm’s diverse range of real estate services, we have access to a wealth of industry resources. We offer a strong combination of expertise from up-to-the-week local market knowledge, to lease structure and operational advantages. We are Proactive and Insightful.
Asset Management Services
- Due Diligence Consulting.
- Oversight of Property Management - Cost Containment to Maximize Cash flow.
- Development of Tenant Retention plans.
- Supervision of Brokers providing Leasing Services.
- Analysis and Comprehensive comparison of Lease Proposals.
- Review of Operating and Capital Budgets.
- Creation of 3-5 year Budget Forecasts.
- Repositioning of the Property to meet the highest and best use.
- Refinancing Consulting- comprehensive analysis and comparison of Loan structure options.
- Supervision of Tennant Improvements with rigorous bidding and oversight of schedule.
- Property Tax Contest Consulting.
In certain instances, and due to many factors, it is not uncommon for the courts to appoint a Receiver to step in between the borrower and lender to manage a commercial property as a receiver.
This includes the hiring a professional property management team, brokerage and marketing team, and performing the actions usually performed by an asset manager or owner. The Receiver is responsible for positioning a property for disposition, or to stabilize a property during a process of litigation. This decision is becoming more common in some markets.
Lynda Gibbons of Gibbons-White, Inc. has acted as a court appointed receiver for commercial assets in the Denver Regional Area over many years.
Receivers are typically appointed by the court as a ‘neutral fiduciary’ or recommended by the lender as plaintiff. Receiverships can be done on a state or federal level. The Receivers duty is to control assets, businesses and other real properties involved in litigation in order to preserve them during the pending outcome of said litigation.
Specific court language refers to a ‘receiver’ as the hands and eyes of the court, thereby carrying out any necessary actions to preserve the assets of the receivership estate. The Receiver is not a representative or agent for the party owning these assets or the plaintiff, who is typically the lender; but rather, a Receiver is granted powers as an officer of the court to benefit all parties involved in the litigation.
Courts may ask the Receiver as a neutral fiduciary to research past accounting records, discover and search for hidden assets or conduct forensic accounting searches.
Receivers are typically compensated on an hourly fee plus expense basis, or an agreed upon flat fee paid monthly. Appointing a Receiver can be exceedingly beneficial to the stabilization of the property during what could be a time of confusion and uncertainty, wherein the property could slide into a position of bad reputation in the marketplace and one of sliding profitability.