Asset Revitalization Solutions Purchasing Distressed Loan Portfolios In Florida

Jan. 13, 2012 - PRLog -- AUSTIN – Asset Revitalization Solutions, Texas-based specialists in distressed asset investments and management, recently acquired $10 million in distressed loans in Florida. The commercial real estate loan portfolio is secured by 18 properties, primarily office space. Coupled with an earlier $18 million portfolio purchase, ARS acquired nearly $30 million in distressed loans in Florida in 2011.

Partnered with Shay Investment Services, a Miami-based broker dealer and asset management consultancy, Asset Revitalization Solutions plans to continue to aggressively pursue asset purchases in the Florida market and across the nation.

“The Florida economy is coming back,” says Cathy Vann, CEO of Asset Revitalization Solutions. “We’re seeing stabilization and growth in our assets there and have reason to believe that the trend will continue.”

Asset Revitalization Solutions is seeking other investment opportunities from Florida banks that are looking to clean up their balance sheets through distressed asset sales.

“We have the financial resources and wherewithal to close deals quickly and in cash,” says Bo Tanner, Chief Operating Officer of Asset Revitalization Solutions. “With our most recent Florida portfolio purchase, once we provided an acceptable price to the Seller, there was no further negotiation, no more due diligence, and we closed within five business days.”

Good news for banks working to get out from under the magnifying glass of regulatory scrutiny by reducing nonperforming assets and potential problem loans. Banks that are addressing their balance sheet issues are increasingly being rewarded with praise from investors and significant increases in stock values.

To enhance its service to the Florida banking community, Asset Revitalization Solutions recently added Albert Bueno to its acquisitions team. Bueno provides more than 20 years of commercial real estate lending experience in bank/CMBS conduit origination and distressed asset management.

“In addition to buying distressed loans, we’re also deploying our considerable experience and track record of success to help banks clean up their balance sheets as consultants,” says Jay McEntire, Chairman of Asset Revitalization Solutions and CFO/Head of Strategy for Shay Investment Services. “We’re currently in discussions with several Florida banks and are looking forward to working with them.”

Led by Vann, Asset Revitalization Solutions’ leadership team has liquidated more than $15 billion in distressed assets over the past two decades. The firm has been actively bidding on loans and portfolios of loans and plans to eventually build a $1 billion portfolio of distressed assets.

With 25 years’ experience in distressed asset management beginning in the mid 80s working out assets for failing thrifts and the RTC, Vann raised institutional capital and began acquiring distressed assets from the RTC in the early 90s in partnership with Citi, Goldman Sachs, Credit Suisse, and AIG.

Vann formed Asset Revitalization Solutions with Jeff Price, a founding member of AIG Global Real Estate Investment Corp., with more than 30 years’ experience in commercial real estate development and finance; and McEntire, who has 25 years’ experience as an investment banker and executive including more than $1.7 billion in M&A transactions in banking, real estate, health care, and energy.

For more about Asset Revitalization Solutions, visit http://www.arscre.com.

MEDIA CONTACT:
Mark Rushing
501-664-5672 x 24