Prism Capital Partners Launches CPMS Program For REO AssetsGeneral Real EstateUpdated on Dec 1, 2009 View more like this | Visit ENGLEWOOD, NJ | Contact Caryl Communications |
BLOOMFIELD, N.J., Dec. 1, 2009 – Prism Capital Partners, LLC, a fully Accredited Management Organization (AMO) by the Institute for Real Estate Management (IREM), this fall has launched a third-party Consultation and Property Management Services (CPMS) program for commercial lenders holding distressed and/or REO assets. The new service enables loan underwriters, servicers and officers the ability to leverage the in-house resources of Prism, a seasoned regional commercial real estate operator and manager with deep experience in turning around troubled properties.
“Our CPMS program responds to the continued erosion in market conditions for commercial real estate assets,” noted G. William Roesch, a Prism principal and the firm’s chief financial officer. “This program is intended to provide lenders and/or servicers with a strategic alternative to continuing with the incumbent sponsors/ managers of a troubled asset and as a viable supplement to their own internal staff resources. We know that many assets could land back in lenders’ hands – it is our goal to provide in-depth market knowledge, strategic planning, execution and just in time resources to assist these market participants with maximizing their recovery from these assets.”
Some of the program highlights include asset management and strategic business plan formation and execution, the implementation of industry best practices for preventative maintenance and operations, and detailed and transparent financial accounting and reporting. The CPMS program also offers capital improvement planning and implementation, a responsive hands-on team of professionals and resource allocation for properties with limited staffing requirements. Prism also provides in-house leasing and marketing services.
“While Prism traditionally is not a third-party provider, our roots as an investment firm and our history of partnering with sophisticated institutional partners make this a logical extension of our activity,” noted Eugene R. Diaz, a Prism principal. “We have a proven track record of seeing potential and quickly turning properties around.”
Prism’s executive management also recognizes the opportunities that its CPMS relationships will afford. “Our strategic consultation and hands-on management will provide lenders with valuable oversight of their assets,” Diaz said. “At the same time, enhancing our relationship with institutional lenders should prove invaluable in helping Prism achieve its growth objectives over the years to come.”
Formed in 2002, Prism has grown into a full-service, vertically integrated real estate company specializing in asset management, property management, financial reporting, construction management, leasing and marketing. Its portfolio of properties under management exceeds 2 million square feet within varying asset classes, including office, retail, industrial, mixed-use and land holdings. Prism’s executive management team is comprised of a talented group of individuals with an average of 24 years direct real estate experience, each bringing a knowledge base commensurate with being experts in their respective fields.
“Our CPMS program responds to the continued erosion in market conditions for commercial real estate assets,” noted G. William Roesch, a Prism principal and the firm’s chief financial officer. “This program is intended to provide lenders and/or servicers with a strategic alternative to continuing with the incumbent sponsors/ managers of a troubled asset and as a viable supplement to their own internal staff resources. We know that many assets could land back in lenders’ hands – it is our goal to provide in-depth market knowledge, strategic planning, execution and just in time resources to assist these market participants with maximizing their recovery from these assets.”
Some of the program highlights include asset management and strategic business plan formation and execution, the implementation of industry best practices for preventative maintenance and operations, and detailed and transparent financial accounting and reporting. The CPMS program also offers capital improvement planning and implementation, a responsive hands-on team of professionals and resource allocation for properties with limited staffing requirements. Prism also provides in-house leasing and marketing services.
“While Prism traditionally is not a third-party provider, our roots as an investment firm and our history of partnering with sophisticated institutional partners make this a logical extension of our activity,” noted Eugene R. Diaz, a Prism principal. “We have a proven track record of seeing potential and quickly turning properties around.”
Prism’s executive management also recognizes the opportunities that its CPMS relationships will afford. “Our strategic consultation and hands-on management will provide lenders with valuable oversight of their assets,” Diaz said. “At the same time, enhancing our relationship with institutional lenders should prove invaluable in helping Prism achieve its growth objectives over the years to come.”
Formed in 2002, Prism has grown into a full-service, vertically integrated real estate company specializing in asset management, property management, financial reporting, construction management, leasing and marketing. Its portfolio of properties under management exceeds 2 million square feet within varying asset classes, including office, retail, industrial, mixed-use and land holdings. Prism’s executive management team is comprised of a talented group of individuals with an average of 24 years direct real estate experience, each bringing a knowledge base commensurate with being experts in their respective fields.
