Commercial Real Estate Solutions Team (CREST)
Overview
The Tremont Commercial Real Estate Solutions Team (CREST) provides real estate portfolio consulting services to creditors, banks, private lenders and institutional investors, including comprehensive strategy formulation, asset management , work-out and disposition services.
In today’s challenging real estate environment the CREST team of real estate professionals has the multi-faceted background and experience to provide with a customized value-enhancement / realization program for individual real estate assets or entire portfolios.
Our financial, operating and legal expertise assists clients impacted by distressed real estate assets to improve asset value and maximize returns. The Tremont team of professionals will guide clients through the entire lifecycle of a work-out; from initial assessment and strategy formulation to asset management and the implementation of a disposition strategy.
Services include, but are not limited to:
History
Since its formation in 2000, Tremont Realty Capital has been providing creative capital solutions for real estate projects nationwide. Whether as a direct lender or an investment advisor, Tremont has a well-earned reputation for skillfully executing complex financing transactions in all segments of the real estate industry.
Members of the Tremont CREST team have significant work-out experience, as well as, extensive real estate ownership, development and management track records. Combined, the CREST team’s experience covers more than $4 billion in commercial real estate work-outs. This high level of experience and expertise allows us to provide an un-paralleled level of service to our customers. |
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Services
Tremont can provide individual services on an ala carte basis or in a more comprehensive manner.
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Valuation Analysis
- Competitive market surveys
- Comparable sales study
- Cash-flow modeling & analysis
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Portfolio/Property Strategy Formulation
- Property repositioning
- Marketing/leasing plan review
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Asset Management
- Budgeting & financial reporting
- Quarterly/annual valuations
- Property manager oversight
- Property inspection
- Construction/renovation supervision
- Requisition/development draw review and approval
- Lease reviews/audits/abstracting
- Expense reimbursement audits
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- Loan Work-Out
- ORE Management
- Corporate Advisory
- M&A due diligence & capital raising
- Bank/Entity level recapitalization
- Restructuring / Recapitalization
- Loan modification
- Debt and equity placement
- Asset Disposition / Liquidation
- Investment sales brokerage
- Loan/Note sales advisory brokerage
- Receivership
- Implementation of legal proceedings
- Collateral protection
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Approach
Tremont will assign a Dedicated Deal Team consisting of a senior staff member to serve as the Relationship Manager, an Asset Manager and an Analyst to every engagement. The Tremont loan work-out philosophy is born from decades of senior staff’s experience in the real estate industry. Our senior staff’s experience pre-dates the recession of the late 1980’s and early 1990’s where millions of dollars of distressed real estate investments were worked-out by key personnel.
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Tremont’s belief is that the central issue in developing a strong work-out strategy is sound property-level underwriting, an understanding of local market dynamics and a thorough understanding of the underlying borrower’s business plan and motivations. No single work-out methodology is appropriate for all transactions rather Tremont will analyze and develop a multi-tiered, comprehensive strategy or “Asset Action Plan” consisting of three critical components including:
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Restructuring/ Recapitalization
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Foreclosure / Deed-In-Lieu
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Disposition / Liquidation
Once the appropriate course of action has been identified, the Asset Action Plan must be efficiently implemented in order to achieve maximum asset value upon disposition. Tremont has the personnel with the expertise and the technical skills to execute these strategies during these highly pressurized and turbulent times.
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Experience
Some historical examples of Tremont's senior staff experience include:
Asset Management
- Manager of approximately $1 billion in various performing and non-performing debt related real estate loan assets.
- Regional director of asset management for an S&P 500, NYSE Real Estate Investment Trust that owned 30,000 multifamily units.
- Manager of a $3 billion healthcare real estate portfolio.
Asset Disposition
- Comprehensive asset management and liquidation of a 2.0 million SF portfolio of class-A office assets located in Southern California. The liquidation successfully recaptured approximately 90% of the then asset value.
- Successfully implemented a complete corporate reorganization plan for health-care related corporation with over $2 billion in real estate assets.
- Successfully negotiated the sale of several underperforming assets for $24 million, exceeding senior management's expectations by $6 million.
Work-Outs
- Vice President of real estate loan services group worked to return $250 million in non-performing loans to accrual status.
- Responsible for the work-out of a portfolio of distressed real estate assets primarily located on the East Coast including hospitality and multifamily assets. Managed several bankruptcy situations to satisfactory conclusion and liquidation of assets.
- Favorable resolution of over $1 billion in FDIC assets.
