ATLANTA, Ga. --- Lavista Associates, Inc., one of Atlanta’s leading commercial real estate companies, was assigned 24 new commercial REO properties during the third quarter as REO activities continue to increase.
Tom Davenport,(top right photo) president of Lavista Associates, Inc., said the continued acceleration of REO activity is undeniable.
“Lenders faced with a growing number of troubled assets are seeking effective providers of property management, leasing and disposition services,” Davenport said.
Davenport said the trend will likely continue well into next year.
“Lenders will continue to take back more commercial assets and look to dispose of them,” Davenport said. “Investors and users are taking advantage of unprecedented buying opportunities and we expect this to continue as well,” he added.
“We are providing lenders a single resource to effectively administer REO assets from receivership and the preforeclosure process through all phases of disposition,” Davenport explained.
Lavista has recently disposed of a variety of property types, including office, self-storage, industrial, mixed-use and multi-tenant retail for multiple lenders and special servicers across North Georgia.
Lavista Associates negotiated sales of commercial assets over the past 90 days in Acworth, Alpharetta, Augusta, Decatur, Fayetteville and Suwanee. Lavista has represented 21 different community, regional and national banks, insurance companies, special servicers and the FDIC.
For more information, contact:
Tom Davenport, President, Lavista Associates, Inc. 770-448-6400; tdavenport@lavista.com
Kimberly Steele, Director of Marketing & Administration, Lavista Associates, Inc. 770-729-2824; ksteele@lavista.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com
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