Case Studies

State Court Receiver of Vacant Retail Building in Portland

J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida

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Home·State Court Receiver of Vacant Retail Building in Portland

The Situation

A vacant grocery store in Portland, Oregon, during the COVID-19 pandemic

How We Advised

As State Court Receiver, we improved the secured lender’s recovery by more than 100% by leasing the property and then selling it in a competitive process.

Our key actions resulting in the successful recovery included:

  • Took possession of a vacant grocery store.
  • Listed the property with a leasing broker and negotiated a 10-year lease with a national hardware store.
  • Monitored completion of the hardware store’s tenant improvements.
  • Maintained the property, including supervising the $400,000 rebuilding of its HVAC system.
  • Listed and coordinated the sale of the property, maximizing recovery for the lender. Managed multiple bids from buyers and selected the best buyer/bid based on proof of funds, surety of close, and price.
  • Successfully obtained Title Insurance, which is complex in receivership sales.
  • Obtained court approval to release the sale proceeds to the lender at the close of escrow, before the final accounting was complete.

Related Practice Areas

> Receiverships 
Federal and state courts, creditors, and legal counsel choose our team to serve as Receiver of distressed businesses and real estate entities. We stabilize operations and cash flow, safeguard business assets, and pursue methods to maximize financial recovery. Our multidisciplinary team applies a wide breadth of restructuring and industry experience as Receiver to take control of companies facing financial, operational, and legal issues.

 

> Chief Restructuring Officer (CRO) and Interim Management Services 
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value.

Key Contact

For additional information about the engagement or to learn more about our services, contact:

Our Experts