Distressed Property Services
We are proactively contacting lenders and others Nationwide who may have challenged or distressed hospitality properties in their portfolios. We are also contacting and updating our extensive database of buyers, to find those that are specifically looking for these types of opportunities in today’s environment.We do a quick assessment of the situation and give our best opinion. In most cases, our recommendations will involve a strategy to dispose of the asset as quickly as possible, using our resources and marketing tools to generate the best possible price. If you are an owner or lender facing this situation or are a buyer who is interested in these types of opportunities, please do not hesitate to contact us. A typical example would be a property that was purchased at the top of the recent cycle. Income projections have not been met and there is no relief in sight. Management had cut expenses as much as possible and the ownership had gone through all of its reserves and was unable or unwilling to put in more money. Deferred maintenance or renovation needs may also be pressing issues that need to be addressed. Time is not on the side of an undercapitalized owner struggling to hold on or a lender that has taken a property back. Decisive action must be taken as quickly as possible to preserve what ever value remains. The longer that a distressed property sits, value will decrease and deterioration will accelerate on many levels, including loss of business, deferred maintenance, vendor problems, employee problems, theft, worker’s comp claims, lawsuits, franchise problems, etc.
There are plenty of well qualified opportunistic buyers, regionally and nationally, who are proven performers, including those that have the ability to move quickly without the need for financing, a long due diligence period or other contingencies that can delay a sale. But, an opportunistic buyer for this type of property needs a motivated seller. They know that they are facing problems, so the property must be priced attractively.
There are plenty of well qualified opportunistic buyers, regionally and nationally, who are proven performers, including those that have the ability to move quickly without the need for financing, a long due diligence period or other contingencies that can delay a sale. But, an opportunistic buyer for this type of property needs a motivated seller. They know that they are facing problems, so the property must be priced attractively.
We at hotels NW are constantly updated with Properties that are distressed and are having problems, we have a confidential list of troubled assets located through out the United States that the can be made available to the right buyer at the right price, Please contact us with your needs.