Receivership.
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Receivership and distressed asset management assignments are increasing at a furious pace. As the credit crisis continues to plague the commercial real estate market, it is becoming increasingly common for lenders to seek experts capable of managing critical, timesensitive property management issues facing mortgaged assets. The goal is to protect, stabilize and preserve the value of such distressed assets. A very sophisticated skill set is necessary in order to navigate the receivership and management process. Every assignment has components of management, deferred maintenance, staff augmentation, occupancy issues, financial concerns, structural and construction factors and a high degree of risk associated with them. We appreciate these complex matters and we craft solution-based, client-specific programs.
In addition to our national receivership and agent to receiver assignments, Chartwell currently manages over 850,000 square feet of commercial space in the northern Ohio market. So whether it is apartment and condo complexes, operating or vacant office projects, industrial facilities, hospitality or retail assets, Chartwell Group, LLC has the experience, knowledge, and capability to mobilize the resources necessary for a smooth transition in a cost effective and timely manner for our clients.
In addition to representing some of the largest companies in the region, Chartwell Group LLC has provided commercial real estate receivership, management and/or disposition services to the following lenders within the past year: Sky Bank, Huntington Bank, National City Bank, PNC, Key Bank, Wachovia Commercial Mortgage, AMCORE Bank, Corus Bank, Starwood Capital, Citizens Bank, Parkview Federal, Republic Financial, U.S. Acquisitions LLC and Blackburne and Brown Mortgage Company.
Below is a sample of our recent assignments.
- First Merit Bank v. Lakeside Marine, et. al,
Case No. 10-EX 020, In the Ottawa County Court of Common Pleas. Protect and preserve the assets of one of the Great Lakes largest marine dealerships. - Wachovia Commercial Mortgage v. Tiffin Motel, Inc.
Case No. 50 2008 CV 03466, In the Mahoning County Court of Common Pleas. A 114 room operating Econolodge Motel in Austintown, Ohio. - Sky Bank/Huntington v. Lawton
Case No. 05 CV 2768, In the Trumbull County Court of Common Pleas. A 120 unit apartment building in Youngstown, Ohio. - Blackburn and Browne v. TLC Group Unlimited
Case No. 07 CV 630878, In the Cuyahoga County Court of Common Pleas. A 12 unit apartment building in Maple Heights, Ohio. - Sky Bank/Huntington v. Crunch, Inc.
Case No. 2006 117528, In the Summit County Court of Common Pleas. A 30 unit apartment building in Youngstown, Ohio. - US Acquisitions v. Anointed Conquerors Ministries
Case No. 2008 CV 03322, In the Mahoning County Court of Common Pleas. A 35,000 square foot church and school located in Poland, Ohio.