As appointed Turnaround Manager and/or Court-appointed Receiver, PEAK navigates the distressed property towards maximum value. Immediate value is achieved by securing and stabilizing the asset. Leveraging our experience with Asset Management, Development, Construction and Property Management, PEAK is able to 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.