Real Estate Receivership

What is a Receiver?

A receiver is a person or company appointed to act as a neutral third party to preserve, protect and if possible, enhance an entity’s tangible and intangible assets when there is a dispute between parties. Receivers are most used for real estate which is the collateral for a defaulted loan, however, receivers can also be appointed for operating businesses and in some cases both (i.e. hotels). The receiver can be appointed by a third-party government regulator, a state or federal court, or can be agreed to privately.

Once the receiver is appointed, they will take over the asset(s) and handle all activities associated with the property or business. Depending on the situation, the receiver typically takes control of the underlying asset and steps into the proverbial shoes of the owner(s) as it relates to operating the asset(s). The receiver typically performs the necessary inspections to identify any critical physical, environmental, legal and economic issues and liabilities. The receiver will determine the most appropriate management, leasing and in some cases dispositions strategy to maximize collateral value.

Benefits of Using a GlassRatner Receiver

Our team has intense experience in distressed property management which is very helpful in running a receivership.
We have decades of experience acting as fiduciaries and court appointed receivers. In addition to our experience with the underlying real estate we are experts in navigating complex court issues and dealing with multiple parties to a disputed asset.
Our staff includes experienced CPAs to handle financial reporting, compliance, and in-depth analysis and forensic accounting if necessary.
We have an in-house construction management team with a wealth of experience including remedying code compliance and life safety issues, entitlement and design management, commercial tenant build-outs, mold remediation, renovations, demolition, complex system installations for occupied buildings and environmental work.
Our breadth of experience as receiver across a wide variety of assignments including: multifamily, retail, office, industrial, hospitality, single family home portfolios, mobile home parks, convenience-stores, liquor stores, automotive, agricultural, timber, mining, and marine, means we can apply lessons learned to subsequent assignments.