SIOR Chicago Hosts Distressed Assets, Receiverships Event

The Chicago Chapter of The Society of Industrial and Office Realtors (SIOR) hosted its Speaker Series Luncheon at The Glen Club in Glenview, Illinois. Ryan Moen, SIOR, Vice President of SIOR Chicago Chapter and Principal and Co-Founder of Versa Real Estate Services, welcomed Kirsten Bowersox, Principal and COO of Xroads Real Estate Advisors and Adam Toosley, Partner with Smith Gambrell Russell, to discuss the state of receiverships, REO and distressed assets. 

Key takeaways included how many assets described as distressed should more accurately be described as value impaired. The discussion also covered distinguishing between stressed and distressed assets is vital, particularly in the commercial mortgage-backed securities market.

The luncheon focused on ways asset foreclosure timelines can also vary, with some lenders opting for swift foreclosure while others prefer placing them under receivership for longer periods, and the importance of quick decision-making and how substantial financial resources are required for participating in foreclosure sales, favoring those with immediate capital access, therefore limiting the buyer pool.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!