NorthMarq Special Asset Services Brochure - Commercial Real Estate by zhangyun

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									                                  Special Asset Services




Commercial Real Estate Services
Capital solutions integrated
with operating expertise.
Rooted in the history of NorthMarq are two traits becoming increasingly important today in commercial real
estate—capital solutions and operating expertise. Our unique ability to integrate these functions allows us to
better help our clients solve problems and seize opportunities. And unlike other real estate companies attempting
to merely capitalize on the current economic downturn, we are confident in our ability to deliver solutions to
distressed or real-estate owned assets for one key reason—we’ve been doing this for decades.


WE’vE bEEN THErE. WE’vE dONE THAT.
For nearly 100 years, NorthMarq has been in the business of commercial real estate. We provide tailored solutions and unmatched
service to investors, owners, users, lending institutions and government agencies seeking market-leading guidance.

While we aren’t fond of downturns in the business cycle, we are familiar with what it takes to get out of them—from the tax Reform act
in 1986, the S & L crisis and the creation of the RtC to the stock market crash, dot-com bust and the post-Sept. 11 slowdown. time and
time again, we’ve demonstrated that we possess the knowledge and experience to help clients weather the storm and emerge safely on
the other side.


THE rIGHT TEAm fOr EACH SITUATION
At the heart of the NorthMarq difference is a deeply rooted culture of teamwork. With each and every client, we work to assemble the
right team, with expertise specifically matched to the real estate opportunity. using our proprietary “owner team” approach, our two
internal leaders evaluate the real estate owner’s cash flow, tenant mix and financing structure to create a team of experts uniquely suited
to the needs of the project.




services
dEbT– Evaluation of lending sources, capital stack and debt service, secure financing
CONSTrUCTION /dEvELOPmENT mANAGEmENT– Project management, contractor/developer selection
dISPOSITION – Property valuation, property sales, note sales, liquidation services
EQUITY – Identifying equity sources, creating joint venture agreements/partnerships, secure financing
LEASING –tenant representation, landlord representation, merchandise plan development, leasing strategy
PrOPErTY mANAGEmENT – Property oversight, financial reporting, tenant relations, engineering/maintenance
rECEIvErSHIP – Preserve value, manage life/safety issues, retain tenants, act as liaison with court




SPECIAL ASSET SErvICES
TImELY SOLUTIONS fOr COmPLEx CHALLENGES
Whether you require advice and service on a single asset or loan, or a portfolio of properties, we have the depth of experience to tackle the
challenge. Our specialty resides in our ability to integrate all real estate services at any point in the lifecycle of an asset or loan, customize
a solution and provide immediate results on the road to recovery.




       support for the asset LifecycLe
           P
       •				 roperty	evaluation	(sell/hold	analysis)                             •	 Create	“owner	team”	tailored	to	each	asset
       •	 Broker	opinions	of	value                                               •	 Evaluate	physical	and	financial	status
          P
       •	 	 ackage	and	market	the	asset                                          •	 Review	rent	roll	and	evaluate	tenant	mix
          F
       •	 	 acilitate	rapid	liquidation	(if	necessary)                           •	 Value	and	underwrite	asset
          	
       •			Determine	liquidity	and	capital	options                                  P
                                                                                 •	 	 rovide	investment	strategy	consultation
       •	 Analyze	buyer	track	record	and	ability	to	close                        •	 Arrange	debt/equity	financing
          M
       •	 	 anage	buyer	selection/negotiations	
       •	 Facilitate	note	sales
                                                             IO    N            AC
                                                          IT                           Q
                                               OS




                                                                                        UI
                                                                                            SIT
                                            DISP




                                                                                               ION




                                                       OP                                  N
                                                             TIM                 O
                                                                        I Z AT I
       •	 Develop	short-term	plan	to	stabilize	the	asset                     •	 Oversee	all	aspects	of	property	operations
       •	 Evaluate	capital	structure                                         •	 Execute	physical	improvement	projects
       •	 	mplement	expense	controls	and	financial	reporting
          I                                                                  •	 Implement	leasing	strategy
       •	 Evaluate	tenant	mix	and	lease	structures                           •	 Provide	research	to	aid	decision	making
       •	 	 ollaborate	with	leasing	to	target	specific	users
          C                                                                  •	 Reposition	for	value	maximization
       •	 	 egin	loan	restructuring,	workout	or	recapitalization
          B                                                                  •	 Reevaluate	vendor	contracts	to	reduce	operating	costs
      case studies
              Office                    CHALLENGE                                           SOLUTION
                                        A pension fund advisor-owned, Class B,              With the lender prepared to meet the market,
                                        suburban office building in a high-profile          the property was marketed to local and regional
                                        location overlooked a major freeway. A large        investors with similar assets in neighboring
                                        tenant vacated and left the property only           communities. When buyers came in with low-
                                        40% occupied. to capitalize on improving            priced offers, we identified the buyer offering
                                        market condtions, NorthMarq recommended a           the best price and ability to close within the
                                        complete renovation.                                original 90-day deadline. the final sales price
                                                                                            was above the lender’s expectations.


              Retail                    CHALLENGE                                           SOLUTION
                                        the combination of high vacancy, weak market        NorthMarq guided the property through a
                                        conditions and high debt service forced this        comprehensive $8 million renovation. In 24
                                        Midwest retail center into bankruptcy. the          months, occupancy increased from 40% to
                                        lender hired NorthMarq to sell the property         90% in a sub-market with several competing
                                        “as-is” with no capital or leasing improvements     properties, and average rental rates increased
                                        in less than 90 days.                               $3-$5 per square foot. the investor elected to
                                                                                            hold the previously troubled asset, which is
                                                                                            now delivering superior returns.


              Industrial                CHALLENGE                                           SOLUTION
                                        When an industrial building’s only tenant           NorthMarq determined the best option was
                                        vacated to a build-to-suit location, the investor   to sell rather than lease and recommended
                                        defaulted and the lender foreclosed on the          targeting non-traditional users interested in
                                        property after failing to meet the terms of the     a central location. the lender was able to
                                        loan. Despite its great location, the property      achieve an above-market sale by selling to
                                        lacked a number of important elements to be         an ideal buyer—a post-secondarys school.
                                        competitive in this strong industrial submarket.    NorthMarq’s thorough due diligence ensured a
                                                                                            surprise-free closing for the buyer.




      Corporate Headquarters
      3500 AMERICAN BLVD W, SuItE 200
      MINNEAPOLIS, MN 55431
      952.831.1000




                                                                                                                      northmarq.com




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