receivership Services

As an appointed Turnaround Manager and/or Court-appointed Receiver, Peak and Mike Zucker have been appointed to more than 750 separate case matters throughout the Midwest.

We understand that a distressed situation is a complicated assignment that needs attention to detail. This specialty practice area was created to assist banks, mezzanine lenders, creditors, loan servicers, borrowers, owners, bankruptcy trustees and courts. We are committed to providing comprehensive interim management solutions for various distressed situations, including nonperforming or under-performing, court-appointed receiverships, deeds-in-lieu, foreclosures and real estate owned (REO).

In order to preserve or create value, we identify operational and economic complexities inherent with the property and work to stabilize and assist with disposition of the asset.

Leveraging our experience with Asset Management, Development, Construction and Property Management, we quickly identify all problems as well as articulating the costs and timing required to implement them.

Receivership Services include, but are not limited to:

  • Maintain properties in accordance with local municipality vacant building ordinance(s).
  • Conduct physical property inspection to ascertain safety, security, and environmental concerns.
  • Organize and audit all documentation specific to the property including leases, security deposits, expenses, maintenance & service contracts, contractor's agreements, tenant ledgers, vendor ledgers, books, records, insurance policies, certifications, accounts and any additional documentation necessary to perform the day to day management of the building.
  • Provide detailed Property Report including strategic cost analysis on recommended repairs and/or improvements.
  • Re-key all existing locks, board-up windows and/or doors if applicable, clean up garbage and refuse.
  • Provide temperature control management including temporary heating solutions.
  • Evaluation of tenancy issues.
  • Provide market valuation services.
  • Lease and Sale strategy and negotiations.
  • Capital structuring including equity sourcing and debt financing.
  • Facilitate final resolution of property through foreclosure or sale.