Fameco Real Estate, L.P. Creates Distressed Asset Group to Deal with Challenged Retail Properties

  In response to the financial and credit crisis, Fameco Real Estate announced the formation of the Fameco Distressed Asset Group, a focused initiative to provide targeted brokerage and management services to owners of challenged retail properties.  The Fameco Distressed Asset Group will provide services to assist clients in repositioning, workouts, valuations and stabilization/maximization strategies for underperforming and/or distressed retail real estate assets and will offer its property management and third party leasing to institutional clients and explore receivership opportunities. Fameco’s Distressed Asset Group is uniquely positioned to create value-enhancing and value-recovery strategies for clients by using its unparalleled market and tenant knowledge and decades of experience in the development, leasing and management of retail properties primarily focused in the mid-Atlantic region of the United States, but extending throughout the country. Jonathan Rome, Fameco’s General Counsel, will spearhead this effort.

  Rome has more than 15 years of relevant real estate experience including years of hands on experience negotiating and documenting forbearance and loan modification agreements on behalf of institutional lenders and individual and institutional borrowers. He stated that “the Fameco Distressed Asset Group is backed by the full service platform of Fameco Real Estate incorporating its expertise, knowledge and industry relationships to improve the position of any retail or mixed use asset.”  

  Fameco specializes in retailer representation, owner representation, investment sales and management services in Pennsylvania, New Jersey, Delaware and beyond. The firm is the exclusive representative for over 200 shopping centers and retail properties totaling 17 million square feet, manages more than 11 million square feet of retail space and exclusively represents more than 75 retailers expanding in the tri-state area.   Fameco’s Investment Sales Team has completed transactions in excess of $1 billion.  Fameco is the ChainLinks member shareholder in the Delaware Valley. ChainLinks is the nation's largest retail-only real estate provider with 62 regional brokerage firms in the U.S. and Canada.

August 14, 2009