When a commercial real estate loans default, lenders may be left feeling overwhelmed. After all, managing and repositioning real estate is complicated, and it requires an experienced hand to do it right.
With over 35 years of experience in the field of commercial real estate management, Friedman Real Estate has the expertise and know-how that is needed to not only preserve and protect assets but also to enhance their value in complicated situations involving bankruptcy and other types of complex litigation. Perhaps this is why courts across the U.S. have appointed Friedman as receiver in over 250 cases involving commercial real estate during the past 15 years.
When serving as a court-appointed receiver, Friedman provides an impartial view of the situation and acts as an intermediary between all parties involved. In so doing, we help to ensure that all sides – lenders, borrowers, investors – get fair treatment throughout the receivership process.
Additionally, because we have experience dealing with commercial real estate and know how to maximize asset values during distressed situations, we provide invaluable guidance during negotiations and help to ensure that lenders get as much money back from their investments as possible. One recent example of this phenomenon involved a distressed retail center in Cuyahoga Falls (Cleveland), Ohio. Friedman leased the center to almost 100% occupancy during the receivership process and then subsequently sold the center to a third-party investor at a price slightly below the loan balance, thereby achieving a near full recovery for the lender involved.
The appointment of Friedman as receiver when commercial real estate loans default can help lenders to maximize asset value while also protecting their interests throughout litigation or the bankruptcy process. Friedman helps lenders to keep control over situations where loans have gone into default and helps to eliminate potential conflicts among multiple parties with different interests at stake. By having Friedman impartially manage assets in these complex situations, lenders can feel confident that they are getting fair treatment throughout the negotiation and resolution process. And they can take comfort in knowing that Friedman will help to get them more money back from their investments that might otherwise be possible!