Experience
In the past year, attorneys at Pacific Receivers, LLC. have been appointed by Washington courts and lending institutions to manage more than $8 million dollars of commercial and residential real estate and related real estate loans. Our successful management of real estate assets includes:
- Sale of a commercial retail center at a higher price than the 2008 appraised value.
- Completing design and construction of a former condominium project and the marketing of the project as an apartment investment.
- Positioning the sale of an apartment building to maximize the NOI in an economic environment in which Capitalization Rates are increasing.
- Sale of residential properties utilizing local real estate professionals with superior knowledge of the real estate market and negotiating “short sales” of the properties.
- Renegotiating and performing a successful work out regarding a $1,000,000 senior lien in default and completing a refinance of the subject apartment building.
- Managing a construction defect lawsuit regarding a multifamily project, including management of insurance issues, participation in the mediation of the case, analysis of the value of the case, and consultation with expert witnesses regarding damages.
- Mediation of competing interests with regard to ownership interests, lenders’ interests, and court mandated workout negotiations.
- Managing the lease negotiations of a commercial building in order to position it for a successful sale.
- Sale of an in-city commercial building in March, 2010 for more than $200,000 over the 2008 appraised value.
