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Cushman & Wakefield Forms Group to Help Clients Maximize Value of Assets in Challenging Economy
Published: November 17, 2008
By Anuradha Kher, Online News Editor
New York--Cushman & Wakefield has formed the Resolution Group, an interdisciplinary team of Cushman & Wakefield property investment and management professionals from across the U.S., to offer clients a coordinated approach --to maximize the value of individual assets, portfolios and loans that are facing a variety of challenges stemming from the ongoing financial crisis. The team comprises seven managers, one for each region in the U.S.
This group will bring together teams of seasoned and knowledgeable professionals with specialized expertise in the areas of asset management, financial analysis, valuation, leasing, property management, project management, investment sales, loan sales, debt and equity finance and litigation support.
“We just connected the dots in an organized fashion to create this team,” Keith Misner, executive managing director and head of apartment brokerage services at Cushman and Wakefield's capital markets group, tells MHN. "This is the direction of the market and we realize there will be some distress situations in the future, which we want to help our clients with."
Meisner adds, "We are working for most major banks and servicers, but there is no way to say how many of those clients are seeking help from the Resolution Group."
The group will provide services to all property commercial property types but apartments making up Cushman & Wakefield's second largest group, a large part of the group's work will be in the multifamily sector.
"The challenges borne by the credit crisis and slowdown in the economy have increased demand among our clients for a comprehensive approach to problem resolution from the capital markets and real estate perspective," says Frank Liantonio, executive vice president of Global Capital Markets at Cushman & Wakefield. "As a client-centric organization, our Resolution Group draws on our broad service platform, and our industry knowledge to ensure our clients benefit from our deep market knowledge and diverse capabilities."
The Cushman & Wakefield Resolution Group is working with a wide variety of clients, including special servicers, government agencies, federal and state appointed receivers, local and national banking institutions, law firms and opportunity funds, among others.
The group provides clients an approach to quickly identify the optimal resolution strategy to maximize the value of each asset. The group relies on key market data, including real-time leasing and sales information to determine an optimal asset strategy. This may include active strategies for a short-term repositioning, a longer-term hold or immediate financial resolution, such as the sale of loans, the sale of assets or loan restructuring.
