NEWS RELEASE Media Contact: Emily Baines 310-689-7537 / Emily@sugermangroup.com
JOHNSON CAPITAL SPECIAL SERVICING TO PROVIDE RECEIVERSHIP FINANCING Group will offer receivership financing services for existing assignments DENVER, Colorado (April 7, 2009) — Johnson Capital Special Servicing announced today that it will expand its services by providing receivership financing solutions for its clients. Receivership financing, similar to debtor in possession financing, is a special form of lending for real estate properties in financial distress. This additional service reinforces JCSS’s unique position as a “onesource solution” for the loan workout process. The company already provides receivership, property/construction management, brokerage services and note sales for financial institutions with troubled commercial real estate loans. This new type of financing will offer opportunities to enhance distressed properties in the down market, albeit under strict conditions. Many of the assets overseen by JCSS contain imminent life/safety hazards or significant deferred maintenance. Other situations which lend themselves to receivership financing include incomplete construction projects or unfunded tenant finishes. JCSS currently plans to offer the financing necessary to complete the build-out of a stalled condo project and an incomplete office building. This financing will enable the lender to preserve their capital and ensure the property is in proper condition for future tenants. “As the credit markets continue to constrict, debtors in possession are finding it harder to secure the financing necessary to complete their projects and make them viable for the long term,” said Johnson Capital Special Servicing Principal, Andrew Miller. “By providing receivership financing for these assignments, we are giving our clients both immediate cash as well as ongoing working capital for their reorganization process. This new offering fits well into the fully-integrated workout program Johnson Capital Special Servicing has to offer and will serve to strengthen our existing platform.” About Johnson Capital Special Servicing Johnson Capital Special Servicing (JCSS) is focused on providing a vertically integrated loan workout platform to financial institutions with troubled commercial real estate loans. Our mission is to maximize loan recovery for our clients through the process of making informed and educated decisions. This is accomplished from years of experience in receiverships, property and construction management, note sales, as well as disposition and investment services. JCSS is the product of two nationally known firms; Johnson Capital with 19 offices nationwide and the Miller Frishman Group (MFG), formerly Sevo Miller. Johnson Capital blends the experience of procuring debt and equity with the servicing of over $4 billion in performing loans. MFG’s expertise stems from years of owning operating and developing multifamily and commercial properties. MFG’s receivership, property management, investment sales and loan workout experience dates back to the mid 1980’s for numerous national financial institution clients. ###