JBM SPECIAL ASSET SERVICES

As experts in the multifamily asset and capital markets, The JBM Group is uniquely positioned to assist lenders, special servicers, government agencies and owners in the valuation and disposition of distressed loans and properties.   Utilizing the most advanced research tools available and applying a hands-on approach, we address each situation independently and work to structure the most favorable solution possible all within the shortest timeframe possible.   The JBM Group works in conjunction with the national Marcus & Millichap Special Asset Services division, which was originated in the 1990’s to dispose of over 5,000 distressed commercial assets on behalf of the Resolution Trust Corporation (RTC).   Today, M&M’s Special Asset Services division leads the nation with $1.4 billion of transactions closed, under contract and listed CY 2009.  

SERVICES OFFERED


The JBM Group can quickly and accurately assess, price, position and dispose of multifamily real estate assets through a controlled and competitive bidding process.   Some of the services we offer include:

 

  • Asset Marketing & Dispositions through a Controlled Competitive Bid Process
  • Valuation and Analysis
  • Bulk Condo Dispositions
  • Loan Sales
  • Auction Sealed Bid Capabilities Through a Controlled Competitive Environment

 

 

OFFERING PROCESS AND AUCTIONS

Our comprehensive disposition services are designed to attain the highest value for the loan/asset sales in the quickest timeframe possible.    To achieve this, the JBM Group employs a competitive marketing and bidding process, whether through a Traditional offering process or a more formally structured Auction Sealed Bid process.   

Each asset and situation will dictate how we design the offering and bidding process, but in all cases, the JBM Group orchestrates a highly professional marketing campaign and controlled bidding process.  All campaigns are supported by high-end marketing materials including digital and hard-copy offering memorandums, as well as on-line information hosting. 

Controlled Competitive Bid Process:  Our traditional offering process is designed to maximize exposure, generate a high volume of offers, and give the seller flexibility in structuring a favorable transaction.  The process typically includes a time-specific marketing period during which marketing materials are disseminated and investors are contacted through multiple channels.   Interested investors submit bids by a specified dead-line, after which top bidders are invited to a best-and-final round.  Price and deal terms are then negotiated and the deal is awarded to the top bidder.  A purchase and sale agreement is then negotiated and the buyer completes due diligence.  A deposit become non-refundable upon the completion of due diligence, and a closing occurs as negotiated. 

Auction Sealed Bid Process:  The JBM Group also has the capacity to orchestrate a formal auction for assets where sellers require tight controls over timing and deal terms.   Our auctions are supported by the same professional marketing campaigns as our traditional offering process to drive interest and excitement in the asset.    Prior to the auction bid date, all bidders are required to complete their due diligence, agree to the terms of a purchase and sale agreement, and to wire deposit funds to an third party escrow account.   Auctions give Sellers maximum control over the process and the right to set minimum bid levels and reserve prices. The bidding process is carefully monitored and takes places in a secure on-line auctions site.     The deposit funds of the winning bidder become non-refundable once the winning bidder is awarded the deal. 

RESEARCH TOOLS

To provide our clients with the best advisory capabilities and information, we leverage the most advanced research and analytical tools available.   The tools allow us to make recommendations and decisions with an utmost understanding of the quickly changing asset and capital markets.   The resources we utilize include:

 

  • TreppLoan
  • RealPoint
  • RealQuest
  • Pierce-Eislen
  • Real Capital Analytics
  • Real Capital Markets
  • Marcus & Millichap Proprietary Research

 

A STRUCTURED APPROACH TO THE SPECIAL ASSETS CONTINUUM

Our services are tailored to assist institutions proactively evaluate assets prior to entering the special assets continuum and to help manage and dispose of those that have already become distressed.

1. We provide accurate, real-time valuation of the underlying collateral to help lenders and government agencies decide whether to proceed with foreclosure or explore workout options.

2. For assets in foreclosure or distressed status, our advisory services enable lenders and government agencies to determine the right strategy and timing for action, including debtor cooperation, asset management, note sale or property disposition.

3. Best-of-class providers are engaged for key services such as leasing, asset management, receivership and auctions as deemed appropriate for each asset or portfolio.

4. Our national platform has been perfected to value, package and market assets to the largest pool of qualified investors rapidly. This is driven by our unparalleled access to private capital.  Due to our experience and volume of transaction activity, we have real-time knowledge and access to a vast network of investors currently targeting multifamily assets in Florida.   Our database of investors is continually updated and one of the most extensive in the industry.  

5. We provide guidance and counsel on asset valuations in advance of foreclosure auctions, ensuring optimum decision-making during the bid process.

6. Our unparalleled national capacity results in accelerated property and portfolio disposition, facilitated by buyer financing options through Marcus & Millichap Capital Corporation.