A Successful Receivership Experience - A Case Study

 


NAI Isaac has over 33 years of experience in Commercial Real Estate (CRE) best practices. The company’s professionals have the skills and experience to successfully handle any Real Estate challenge, including the Receivership process. Receivership can take the form of (1) Property Management leading up to a foreclosure sale and (2) Property Management as an alternative to foreclosure while real estate collateral is being marketed. Often, Receivers are appointed at the request of a lender to safeguard a property and rents if an owner stops making mortgage payments. In each situation, the Receiver is a neutral, legally appointed professional entrusted to manage the real estate collateral’s operations and finances until it is sold. 

One example of a successful Receivership process is Chase Tower, located at 201 East Main Street in Lexington, Kentucky. Built in 1973, Chase Tower remains foundational to Lexington’s Central Business District (CBD) and has been for more than 47 years. In 2009, Chase Tower experienced the re-alignment of JPMorgan’s Chase Bank’s regional headquarters and later went into Receivership.

Are you interested in learning how NAI Isaac was able to manage a Receivership to maximize property values and ultimately transform Chase Tower into a performing and robust asset? Occupancy rates were increased by 24.7% and NAI Isaac assisted in the sale of the property to a privately held, vertically integrated real estate investment and management firm based in Florida.

If so, please read Chase Tower’s Receivership Case Study today.

Location: Lexington, KY, USA

Comments

Post a Comment

Popular posts from this blog

NAI Isaac Announces the Sale of 106 W. Vine Street, Lexington, Kentucky!

Image
    NAI Isaac is pleased to announce the recent sale of 106 West Vine Street, an 8-story building in downtown Lexington.  Jamie Adams, CCIM and J.L. Cannady, CCIM with NAI Isaac represented the Buyer; Jamie Schrader with Schrader Commercial Properties represented the Seller in this transaction.  Plans for the building include a new 40-unit condo redevelopment further described on The Vine Lex's Website: https://thevinelex.com/   
Read more

NAI Isaac Renews Mutual of Omaha Lease

Image
NAI Isaac is pleased to announce that Mutual of Omaha has renewed their lease for their location at 771 Corporate Drive in Lexington, Kentucky.  Mutual of Omaha provides an array of insurance, financial and banking products to customers throughout Central Kentucky.  Al Isaac, President of NAI Isaac Commercial Properties represented the Landlord during the lease transaction. Corporate Plaza, a 120,000 square foot ten story Class "A" suburban office building, is located at the corner of Harrodsburg and New Circle Roads in southwest Lexington, Kentucky.  Leasing opportunities are currently available.  For more information, visit our website at   www.naiisaac.com .
Read more

NAI Isaac Facilitates Lease at Keithshire Place in Lexington, Kentucky to Redlight Dealz

Image
  Lexington, KY  – NAI Isaac, a full-service commercial real estate brokerage and property management firm, announces the lease of 5,628 SF of retail space at 3301 Keithshire Way in Lexington to Redlight Dealz. Al Isaac, President, and Jim Holbrook, Assistant Vice President, of NAI Isaac, represented the Landlord. Dallas Hodge of the Gibson Company represented the Tenant. Keithshire Place -   104,974 SF retail/office center located on the southwest side of Lexington, approximately 1.5 miles from Man O' War Boulevard and adjacent to the new Wellington development. Keithshire Place is directly on Keithshire Way, which is the southern boundary connecting Reynolds Road to Clays Mill Road and carries traffic to Meijer, Target, and Fayette Mall.  Redlight Dealz – Retail sales of closeout items, including small & large appliances, electronics, toys, clothes, mattresses, rugs, sheets, and more.
Read more