NAI Global Launches Special Asset Solutions Group to Focus on Distressed CRE Portfolios

NAI Global has formed a Special Asset Solutions™ group to assist clients with financially distressed real estate assets and REO.

The new group concentrates NAI Global’s resources across multiple disciplines and markets to provide banks, financial institutions, special servicers and other holders of REO assets with the full spectrum of services an asset is likely to require throughout the ownership cycle. The group’s offerings include loan sales and restructurings, asset and property management, receivership, due diligence, valuation, leasing and disposition.

“With a large number of assets coming under their supervision over the next 12-24 months, lenders are having to adapt to a new role as de facto property owners,” notes NAI Global President & CEO Jeffrey M. Finn. “This realignment of our established service lines enables understaffed REO departments to focus on their core competencies while proactively dealing with their nonperforming loans and REO.”

NAI’s Special Asset Solutions™ team, led by Executive Vice President Rhyne Brown, works with the client to assess the physical asset, preserve and enhance the asset’s current value, mitigate risk and put a strategy in place to dispose of the property or loan. The team is supported by the local expertise of 5,000 professionals in over 325 NAI offices worldwide.

“While there are a variety of issues that must be addressed along the way, the ultimate goal for many of our clients is a successful disposition,” Brown says. NAI employs a variety of disposition methods, from traditional marketing to loan sale programs and accelerated marketing programs like the Commercial Property PowerSale™, NAI Global’s online property auction platform. NAI’s disposition expertise runs across all property types and ensures broad exposure to commercial real estate investors across the U.S. and worldwide.

NAI NBS Special Asset Team and Johnson Reid Team Up to Release 3Q09 Single-Family Housing Report

NAI Norris, Beggs & Simpson’s Special Asset Team and Johnson Reid, a consultancy specializing in real estate development and land use economics, have collaborated to release a single-family housing report for the Portland metro area for Third Quarter 2009.

The report covers both lots and standing inventory in Portland and Vancouver, and contains some good news for the market.

“Market watchers think that the bottom of the curve is behind us and that we are well on our way into a recovery in this hard-hit market,” said NAI NBS Executive Vice President H. Roger Qualman, who heads up the Special Asset Team.

The inventory of new and used homes and lots is declining, the report says, and houses between $150,000 and $199,000 are a sweet spot for action.

NAI NBS’ Special Asset Team, consisting of five brokers in Portland and Vancouver, was created within the firm to respond to the collapse of property markets through the Pacific Northwest. Tight financing for housing, investors and developers has created a need for its services as stress is placed on banks, bankers and banking relationships. The Special Asset Team works with lenders to provide strategic solutions for distressed assets, improved properties or loans.

The full report can be found here.