Distressed Assets

Hannay Realty Advisors is accustomed to the challenges of working with distressed commercial properties.  In the last two years alone, Hannay has handled over $1 billion in loans as a court-appointed receiver throughout the western United States.  This includes large institutional-grade assets and loans secured by multiple properties as well as small loans on neighborhood properties.  The company’s experienced team has ushered dozens of properties, bankruptcies and the sale of the asset through receivership.  Due to their expertise, responsiveness and cost-effective fee structure, the company has become the preferred receiver for commercial real estate properties by many national lenders and special servicers.

Hannay’s goal is to find the best solution for each distressed property in order to maximize its performance until a resolution is achieved.  Early in the engagement, Hannay prepares a comprehensive analysis of the asset along with detailed accounting information.  By offering multiple services under one roof, Hannay is able to streamline the process and provide clients with lower costs, reduced risk and time savings.

Receivership Services:

  • Develop a detailed analysis so that potential recovery and appropriate action can be determined
  • Make property and financial assessments including operations and profit and loss statements
  • Provide all accounting and financial reporting functions including accounts receivables and accounts payable in order to determine the true status of financial assets and liabilities

 

 

  •  Perform all court-related duties associated with the property in order to maximize recovery
  • Serve as the acting property manager, and, in this capacity, perform all appropriate duties including accounting and reporting, tenant relations, building maintenance service, negotiation of leases,tenant improvement and construction management, the handling all vendor contracts, management of all operating income and expenses, etc