What We Do
The time before a foreclosure is finalized as it proceeds through the court system can dramatically affect the value of a commercial property. Metro East Receivership Services has the experience and resources to act as a court appointed receiver for distressed properties, who’s primary objective is to preserve and protect the physical and fiscal asset. Effective processing of distressed real estate assets requires experience in commercial real estate sales, brokerage, general contracting, leasing and property management. Metro East Receivership Services provides lenders, law firms, insurance companies and other sellers with brokerage and construction-related services.
Time is Money—So Stop Wasting It
We move quickly to identity issues and find solutions to help minimize your losses whether your distressed property must be sold, repaired or repositioned.
Amid Turmoil, Opportunity Awaits
We will help evaluate if the property should be disposed of immediately or if it has medium to long term potential based on our knowledge of the Twin Cities market, and then develop and implement a plan to help minimize your losses. If you have foreclosed on a property that is damaged or neglected, we will repair it and prepare it for sale or leasing. With years of experience, our staff knows what does and does not need to be done to make the property a candidate for an expedient sale. Since Metro East is an experienced commercial real estate brokerage, we will be seeking solid prospective buyers and quality tenants at the same time improvements are being done on the property.
Receivership responsibilities may include:
- Third party independent control as a fiduciary of the court
- Possession and preservation of the asset
- Management and daily oversight of property activities
- Financial oversight of income and expenses
- Evaluation and supervision of all contracted services
- Management of payables
- Rent collection
- Recommendations for maintenance
- Build or restore tenant relationships