These are uncertain times. The real estate arena has witnessed tremendous upheaval. Yet, wise minds, applied professionally, can net successful turnarounds.
Martek has been highly active in effecting solutions for distressed properties for both owners and lending institutions. This process has challenged us to initiate creative solutions where none seemed to exist. Three overriding principles are maintained at the forefront of our consultancy services for troubled real estate:
1. Minimize Losses
2. Maximize Profits
3. Protect the Asset
By taking advantage of innovative financing and ownership mixes, we have saved millions of dollars for our clients. We have also utilized our skills in aggressive management, sales and leasing practices which have transformed troubled properties into attractive assets. Throughout the 90's and continuing into the new millenium, the real estate market has experienced considerable turmoil. For example, the downturn of the retail industry had significant negative impact on shopping centres, retail outlets, strip malls, etc.. This trend then overflowed into the general commercial real estate market. As a result, with rentals decreasing, many landlords have experienced difficulty in maintaining their real estate holdings and meeting financing charges on their properties. This increased financial stress on owners has seen many larger real estate assets being returned to lending institutions for administration, management and ultimate disposition. Consequently, trust companies and other lending institutions have found their role shifting from lender to landlord/property owner. The financial industry has now become increasingly involved in the day-to-day management of real estate assets, including lease-up, valuation and sales.
In this forum, Martek has proven instrumental in providing lending institutions with advice, guidance and management expertise. Martek has been successful in evaluating and abbreviating the lender's role as owner, and through its sale, returning the asset back to users/investors