ACG Management Company, the property and asset-management arm of Arthur Capital Group, Inc., today said it has introduced commercial real estate receivership services as a response to ongoing market weakness and a growing inventory of commercial properties facing foreclosure.
The company initially will focus on securing receivership appointments in the Chicago metropolitan area, but may increase its offering of receivership services regionally.
James J. Weber, JD, ACG’s general counsel and director of property management, recently was named court-appointed receiver for two Chicago area commercial properties as part of foreclosure proceedings against the owners of those properties, which are located in Skokie and Schaumburg.
“Banks and law firms involved in proceedings against distressed commercial property must often rely on the services of court-appointed receivers who can protect the property’s value by stabilizing operations and retaining tenants,” Weber said. “ACG’s lengthy experience in providing these services, as well as our legal and financial expertise, positions us well as a ‘trusted source’ for receivership services.”
Weber noted that ACG, through its sister company Leo Software, developed a comprehensive property-management system that ACG uses to support its operations. “Leo gives us a technological edge in both managing and marketing the properties we control under receivership assignments,” Weber said. “The use of superior information technology provides transparency to enable better decisions by lenders and property owners alike.”
ACG Management Company offers skills and experience covering property management, asset management, property accounting and financial reporting, facilities management, financial analysis, lending and valuation services, sales and marketing, debt and equity sourcing, and construction management.
The executive team at ACG Management includes experienced asset, property and facilities managers, as well as a licensed attorney, architect, real estate brokers and construction contractor. ACG’s senior staff has experience in the field dating back to the late-1980s savings-and-loan crisis, including dealings with the Resolution Trust Corporation that was formed to deal with the aftermath of the failed savings-and-loan industry.
About ACG Management Company
ACG Management Company, Arlington Heights, Ill. (acgmanagement.com), is the property and asset-management unit of Arthur Capital Management, Inc. ACG represents institutional owners in managing commercial real estate assets, including office and industrial buildings, medical facilities and retail property. Its management team includes James J. Weber, JD, co-founder, general counsel and director of property management; Paul Muessig, AIA, co-founder; Frank D. Collins, director of construction and facilities management; and Grace M. Rodgers, director of asset management.