Daymark Realty Advisors Unaffected By Bankruptcy Filing of Former Owner Grubb & Ellis

Feb. 24, 2012 - PRLog -- Daymark Realty Advisors, a leading provider of strategic asset, property management and structured finance solutions for owners of commercial real estate, today announced that it remains unaffected by and entirely unaffiliated with former owner Grubb & Ellis Company’s Chapter 11 Bankruptcy filing on Monday, February 20, 2012.

In August 2011, San Diego-based Sovereign Capital Management Group and Infinity Urban Century, a New York City-based investment affiliate of the Infinity Group, completed the purchase of Daymark Realty Advisors, Inc. from Grubb & Ellis Company.  With the completion of the acquisition, Grubb & Ellis fully exited the tenant-in-common business and Daymark became entirely independent from Grubb & Ellis.

The strategic joint venture between Sovereign Capital and Infinity Urban Century has emerged as one of the leading players in the securitized tenant-in-common investment market. In the process, Daymark has been operating under the direction of a new board of directors and executive management team.

Since the August acquisition, Daymark Realty Advisors has seen its portfolio of approximately 130 assets reinvigorated with new capital and a new leadership team of industry experts.  According to Todd Mikles, Daymark’s CEO, the new leadership team has been implementing an aggressive business plan focused on stabilizing and recapitalizing Daymark’s portfolio of properties, allowing them to survive in this challenging economic market.  

“Despite the obstacles we’re facing under the current market conditions, we’ve been able to make significant progress over the past six months,” says Mikles.  “We have strengthened and capitalized on deep lending relationships by successfully restructuring and refinancing several property loans within the portfolio that were previously facing maturity or potential default.  Daymark has bolstered communications with its investors by providing more information, transparency and timeliness than ever experienced under previous ownership.”

Looking ahead, Daymark has been thoroughly evaluating and analyzing each of the properties within the portfolio with respect to cash flows, debt, and valuation, and plans to announce a number of strategic options to its investor groups in the coming weeks.  

Mikles concludes that as part of Daymark’s updated business objective to create solutions for both long-term and short-term ownership, as well as exit strategies through a fresh thought process and new capital, the company is seeking the best possible investment outcome for its investors in this very difficult real estate environment.

About Daymark Realty Advisors, Inc.
Daymark Realty Advisors, Inc. is one of the country’s leading providers of strategic asset management and structured finance services to private and institutional owners of commercial real estate. Daymark provides a fully integrated platform of services that focus on maximizing property value and performance, and offers proven expertise in the repositioning of distressed assets, debt restructuring and property recapitalizations. From six offices throughout the country, Daymark manages a nationwide portfolio of commercial real estate properties totaling approximately 33.3 million square feet, including more than 8,700 multifamily units, valued at $4.9 billion based on purchase price. For more information, visit www.DaymarkRealtyAdvisors.com or contact Jennifer Cho at (714) 975-2367.

About Sovereign Capital Management Group & The Infinity Group
Sovereign Capital is a San Diego-based real estate company with an established history of successful commercial property acquisition and management. Over the past ten years, Sovereign has assisted more than 1,500 tenant-in-common and other retail investors with the restructuring of assets negatively impacted by economic changes. The Infinity Group is a New York City-based private equity investment company with significant interests in commercial real estate. The firm’s property unit focuses on value-added asset repositioning and distressed real estate investments. The two firms formed a strategic joint venture for the acquisition of Daymark Realty Advisors, Inc.  For more information regarding Sovereign Capital and The Infinity Group, visit www.sovcapital.com and www.infinity-group.com.

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Daymark Realty Advisors, Inc. is one of the country’s leading providers of strategic asset management and structured finance services to private and institutional owners of commercial real estate.