The Society of Industrial and Office Realtors (SIOR) Chicago Chapter recently held its Speaker Series Luncheon at The Glen Club in Glenview, Illinois. Ryan Moen, SIOR, Vice President of the chapter and Principal/Co-Founder of Versa Real Estate Services, welcomed Kirsten Bowersox, Principal/COO of Xroads Real Estate Advisors and Adam Toosley, Partner at Smith Gambrell Russell. They discussed the current state of receiverships and REO properties.
During the event’s keynote presentation it was noted that many assets labeled as distressed are actually value impaired. The speakers also emphasized the importance for lenders to distinguish between stressed and distressed assets in order to make informed decisions within commercial mortgage-backed securities markets.
Attendees learned about variations in asset foreclosure timelines with some lenders opting for swift foreclosures while others prefer placing them under receivership for longer periods. It was also highlighted how quick decision-making is crucial during these processes as well as having substantial financial resources available when participating in foreclosure sales.
Don’t miss out on networking opportunities with your peers at Connect Midwest: Multifamily Affordable Student & Senior Housing Trends on June 4th 2024 at W-Chicago City Center Hotel located in Chicago IL where G.Joseph Cosenza will be presented with a Lifetime Achievement Award followed by a Keynote Interview discussing his role as Vice Chairman of The Inland Real Estate Group LLC And President Of Inland Real Estate Acquisitions LLC . Register today!
