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Recovery Solutions, Loan Workouts, Overcoming Challenges
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Recovery Solutions
We work with special asset bank managers and their troubled asset portfolios to mitigate loan losses and maximize asset recovery. Bove’s asset recovery group provides navigation and crisis management through difficult and challenging times. We are keenly aware of the current market conditions and have a global understanding and managing and maximizing the return on troubled assets.
We offer more than just a typical appraisal and can perform the functions shown below:
- Minimize management expense of ongoing REO through a fresh, independent vantage point from a developer’s perspective
- Appropriately value assets based on today's market value as well as future potential.
- Analytically organize troubled asset portfolio
- Utilize drill-down analytics to determine whether to dispose, complete development or hold the asset
- Entitlement research and preservation
- Organize portfolio by specific type, asset class and rank
- Provide construction budgeting and completion of uncompleted projects
- Serve as a bridge to potential acquisition groups and brokers:
- Prepare disposition packages with critical information and timelines
- Repackaging and marketing of asset to maximize value
- Provide focused independent expertise for both the disposition and acquisition side to rapidly complete transactions
- Evaluate upcoming troubled loans; determine which assets and developers merit loan modifications and/or additional investment
- Formulate recommendations for asset turnaround
- Evaluate/monitor the established development turnaround plan
- Evaluate and Monitor the Developer for loan and threshold compliance of restructured loans
- When economically warranted, establish Joint Venture LLC’s to take over troubled assets, if need be complete the work under our
- General Contracting License in order to recapture loan principal, interest, and maximize upside return
Loan Workouts
We are also experienced in facilitating the negotiation process. Alternatives to foreclosure or bankruptcy, such as rescheduling loan payments into lower installments over a longer period of time can then be evaluated. The proposed new loan terms should enable the business to meet its financial obligations and the lender to achieve the return of its capital. We provide the lender with independent oversight to ensure the workout strategy is being deployed as designed. Our ongoing oversight provides curtailment monitoring and includes recommendations for improvement of cash flow, as well as means and methods for disposition.
Overcoming Challenges
We have found taking immediate control of the individual or portfolio of assets is essential to value preservation. This is not an easy undertaking and normally comes with significant challenges.
The goal is to help real estate stakeholders maximize value in challenging circumstances. Our hands-on approach helps companies identify and implement change to enhance value. This proven approach produces fast turnaround cost savings and allows lenders to go about their business of lending.
• We undertake appropriate diagnostic and analytic measures to quantify and pinpoint areas of concern
• We devise solutions with associated timelines and cost-benefit analysis
• We work with property managers to implementation changes
• The tools that we use are come from years of experience in the industry, they are not proprietary, but the skills with which we use them create and preserve value.
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