The largest challenge to our agents is when an otherwise sellable or leasable property is forced to be listed at too high a price because of underlying debt
Orlando, FL (PRWEB) November 16, 2011
Covendium, the nation’s largest debtor-side commercial loan restructuring and advisory firm, has entered into an alliance with commercial real estate services firm Colliers International South Florida, offering Colliers’ clients market-leading commercial debt consulting and advocacy to help them sell or lower the cost to lease or operate their commercial properties.
Stephen Nostrand, CEO of Colliers International South Florida, points out, “By partnering with Covendium, our clients can lower their commercial debt payments or principal balance, which allows them to realize the underlying value of their assets. This results in stability and the opportunity to operate in alignment with the market.
Covendium’s team of professionals works directly with entrepreneurs to identify the most efficient capital and operating structure based on current market values, lease rates, the restructuring capability of their lender and the interest of outside investors to provide incremental debt or equity to the business. Covendium’s five billion dollar experience in commercial debt, along with its unrivaled experience in dealing with the widest variety of national, regional and community banks, will help Colliers clients sell or lease their property at values that make economic sense.
“Like Colliers, we believe that to get the economy moving again, we need to create an environment where entrepreneurs feel confident in buying or leasing commercial space,” says Doug Long, President of Covendium. “Artificially high lease and property values will not only delay our economic recovery, but will delay much-needed property maintenance and improvement, which depresses vacant properties another 30-40 percent. In many instances, legacy Covendium clients are more profitable in this economy than they were at the height of the bubble – and certainly have more time to focus on their business as opposed to worrying about their debt.”
For more information about the partnership with Colliers International or any of Covendium’s services, call (407) 965-3535 or go to http://www.covendium.com.
Covendium specializes in comprehensive commercial debt resolution, restructuring and business consulting for clients whose financial model has been compromised by the economic downturn and the bank liquidity crisis.
For some clients, all they need is an experienced negotiator to provide their lender with the reality of the financial situation and the tool-set to restructure their obligations. For other clients, Covendium provides business consulting and access to non-bank funding sources.
Their team of professional advisors has successfully restructured billions in transactions, with dozens of banking institutions (including major national, regional and community banks) and over 30 separate non-bank financial counterparties.
Bad things happen to good people. Covendium is a premier national debt resolution firm that helps their clients with everything from commercial foreclosure to debt management to commercial debt restructuring to private debt placement.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.
With offices in Miami, Fort Lauderdale and West Palm Beach, Colliers International South Florida is the single source provider of comprehensive commercial real estate services to local, regional and international owners, occupiers, investors and lenders.