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receivership/reo

Deep Experience Counts

REO and Receivership properties often pose complex challenges for lending institutions and note buyers involved in the foreclosure process. The skilled Receivers and property managers at Etkin, combined with leading-edge brokerage services available through our strategic alliance with CBRE, creates an unparalleled resource to reduce or eliminate creditor losses.

Receivership

Committed to protecting the value of commercial properties during the foreclosure process, Etkin’s experience as a Receiver has helped ensure the viability and improve the value of properties prior to disposition through our strategic alliance with investment brokers at CBRE.

Our winning receivership strategy:

  • Take possession of the property and all related bank accounts, keys, codes, records, etc.
  • Oversee management to ensure the property is operating soundly
  • Create new operational and accounting protocols
  • Determine if the property requires major maintenance, renovations or capital improvements
  • Notify all creditors and suppliers of Etkin’s appointment as the Receiver
  • Review and determine if franchise agreements, insurance policies, vendor contracts and leases should be continued, terminated or renegotiated
  • Submit all necessary court reports
  • Report progress to stakeholders
  • Implement aggressive marketing and leasing plans to maximize occupancy
  • Determine the best exit strategy through CBRE’s brokerage services

REO Services

As a full-service real estate company, the exceptional skills of Etkin property managers and CBRE brokers work together to reshape troubled assets. We excel at repositioning the asset by implementing our real estate marketing and management skills, creating value and expediting the eventual disposition of the property through CBRE.

Clients receive strategic management planning customized to their unique needs. Our time-tested systems and protocols allow for rapid implementation, as we know time is of the essence when dealing with distressed properties.

Etkin/CBRE believes a key component to ensure stability of an REO portfolio lies in making certain properties are well occupied by quality tenants, thus mitigating losses for lenders and investors.
Our fine tuned objectives for REO properties deliver solutions with speed and accuracy:
  • Maintain and enhance the assets value
  • Mitigate damages
  • Remove hazards
  • Bring to market in the shortest possible time
  • Provide timely inspections and reports
  • Provide maximum potential return
  • Rejuvenate and improve curb appeal
  • Maximize potential return to lending institution

Representative Assignments

Etkin has long-standing relationships with a number of local, regional and national banks and financial institutions. These lenders have relied on our REO and Receivership services to manage their properties and to provide exceptional turnaround solutions throughout Michigan. The chart below highlights representative assignments:
Motors Liquidation / General Motors Bankruptcy GM PCC Central
2000 Centerpoint Parkway
Pontiac, MI 48341
Property Type: Office / Industrial
Property Size: 1,168,474
Services Performed: Property Management, Disposition
Chrysler Vacant Building
2301 Featherstone
Pontiac, MI 48341
Property Type: Industrial
Property Size: 250,000
Services Performed:Property Management, Disposition
Valley Plaza Shopping Center
4205-4225 Miller Road
Flint, MI 48507
Property Type: Retail
Property Size: 64,003
Services Performed:Property Management, Leasing, Disposition
North Park Plaza Shopping Center
2051-2133 N. Wixom Road
Wixom, MI 48393
Property Type: Retail
Property Size: 53,000
Services Performed:Property Management, Leasing, Disposition
Bristol Place
4488 W. Bristol Road
Flint, MI 48507
Property Type: Office
Property Size: 40,000
Services Performed:Property Management, Leasing, Disposition
Cobblestone Ridge Office
16800 24 Mile Road
Macomb Twp., MI 48042
Property Type: Office
Property Size: 20,000
Services Performed:Property Management, Leasing, Disposition
Meadowridge Plaza
1320-1396 Scott Lake Road
Waterford, MI 48328
Property Type: Retail
Property Size: 19,027
Services Performed:Property Management, Leasing
American Auto Center
5498-5534 Dixie Highway
Waterford, MI 48329
Property Type: Retail
Property Size: 17,265
Services Performed:Property Management, Leasing, Disposition
Regency Plaza
30693-30711 W. 12 Mile
Farmington Hills, MI 48334
Property Type: Retail
Property Size: 11,044
Services Performed:Property Management, Disposition
4251 Davison Road
4251 Davison Road
Burton, MI 48509
Property Type: Retail
Property Size: 8,225
Services Performed:Property Management, Leasing, Disposition
17401 W. Twelve Mile Road
17401 W. Twelve Mile Road
Southfield, MI 48076
Property Type: Office
Property Size: 7,000
Services Performed:Property Management, Disposition
26193 W. Six Mile Road
26193 W. Six Mile Road
Redford, MI 48239
Property Type: Retail
Property Size: 3,400
Services Performed:Property Management, Disposition
20176 Dix Toledo Highway
20176 Dix Toledo Road
Brownstown, MI 48183
Property Type: Industrial
Property Size: 3,400
Services Performed:Property Management, Disposition

There Is No Substitute For Experience

The Etkin/CBRE team possesses a comprehensive understanding of the complex Receivership and REO process relating to commercial office, retail and industrial properties throughout Michigan.

We are a team of experts in stabilizing commercial property and maximizing its value to then sell on behalf of the lender. Etkin quickly and efficiently eliminates the financial drain and challenges of REO properties with our time-tested policies and procedures. We have a proven track record of delivering solutions with speed and accuracy, while overseeing a professional and orderly property transition.

Curtis Burstein

Etkin

Chief Executive Officer

Josh Suardini

Etkin

Vice President

Brendan George

CBRE, Inc.

Senior Vice President

Lauren Scarpace

CBRE, Inc.

Senior Vice President

Get Started
Contact Etkin/CBRE for a complimentary property evaluation and proposal today!
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