• Receiver and Trustee
• Distressed Asset & Property Management
• Stabilization and Turnarounds
• Specialty Real Estate Services

GlassRatner Services - Distressed Asset & Property Mgmt

GlassRatner Management and Realty Advisors provide transitional and ongoing asset management for lenders, servicers, equity sponsors and investment owners. We specialize in turnaround and stabilization of underperforming real estate assets across all sectors- of residential, retail and office real estate.

GlassRatner’s management group provides owners with comprehensive oversight of all property elements through:

Situation Assessment & Management

• Review operating statements and rent rolls to determine where revenue should be enhanced and where expenses can be pruned.
• Audit tenant files and rent collection policies currently in place.
• Confirm the status of loan payments, escrows and reserves with the Lender. Review the status of property tax payments and casualty insurance policies and premiums
• Assess the status of rental payments at the property and work to capture the flow of funds.
• Coordinate the ownership group communication, decision-making and strategy implementation within the group.
• Advise in the selection of legal counsel and manage the relationship, focusing on expense control.
• Provide valuation opinions and analysis of current rental rate trends, vacancy rates, cap rates and absorption rates.

Property Management

• Conduct a comprehensive physical inspection of the property and provide an assessment of tenancies, property condition and the market.
• Evaluate and where needed modify rent collection procedures to ensure the security and control of payments.
• Evaluate the performance of the current property manager and if a replacement is necessary, interview candidates and present recommendations to owners and/or lenders.
• Review, negotiate and monitor operating and capital expense budgets.
• Recommend the most advantageous structures for long-term investor value enhancement, including negotiating refinancing or ultimate sale of the property.

Tenant Lease Administration

• Advise on leasing agents to negotiate new leases and renewals for the investor group. Review leasing proposals and negotiate terms.
• Develop leasing strategies to address above average vacancies due to market or property weaknesses.

Financial Reporting

• Provide timely & accurate financial statements, detailed budgets, financial forecasts and meaningful status reports
• Engage tax advisors, as needed, to avoid pitfalls that might jeopardize the tax-deferred status of 1031 investors

The GlassRatner advantage is that we are not a property owner and we operate without the conflicts of interest found in property managers that both own and manage for third parties. We have a flexible and cost efficient fee structure with references from Tier 1 lenders, servicers, and equity sponsors.