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Local Real Estate Company Grows During ‘Great Recession’ By Developing Receivership Niche
Banks Appoint Stillwater Companies to Manage Insolvent Properties
Founded and led by Jerome Stewart, a former banker, Stillwater has just completed three receivership assignments in Merritt Island, Tampa and St. Cloud for local banks. Stillwater has picked up five new receivership assignments over the past two months and has been nominated for three more pending court appointment. The assignments have Stillwater working all over Central and Southwest Florida.
“Our lender clients have come to appreciate the benefits of having us oversee and manage the properties during foreclosure. With our combination of construction and property management experience, we have been able to add value to a number of situations where properties were suffering from extensive deferred maintenance,”
In 2012, 75 percent of work coming into Stillwater is with lending institutions and represents a wide variety of brokerage listings, property management, receiverships, construction management, and real estate consulting and inspection services.
“We differentiate ourselves by tackling all kinds of situations for our clients, such as moving abandoned equipment, performing maintenance, securing building envelopes, curing notice of violations and handling building clean outs,” said Stewart. “Our competition does not offer the range of services that we do. We focus on being problem-solvers for our clients, which is what has led to our growth in this niche.”
ABOUT STILLWATER COMPANIES:
Stillwater Companies, www.stillwatercompanies.com, is composed of two affiliated companies engaged in real estate brokerage and general construction.
Stillwater Companies Realty, LLC is a full service real estate brokerage actively listing and selling commercial and residential properties. The realty division performs property management and leasing service, and has specialists with deep expertise in residential project and land listings, and waterfront and marina projects, mobile home parks, apartments, and condo projects.
Stillwater Companies Construction, LLC is a licensed and insured general contracting company. In addition to ground-up new construction, the construction division does renovations, additions, remodeling, and repairs. In addition, the company has done multi-family residential and small commercial buildout, tenant finish work and single family residential. Stillwater possesses experience rebuilding fire-damaged homes and completing partially finished lender foreclosures.