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Seeing the Brighter Side

Jack Studnicky is a trusted veteran real estate specialist and consultant.

Troubled assets spell big biz for specialists

February 24, 2010 01:06PM
By Jennifer LeClaire

When it comes to maintaining troubled assets, vulture
investors are circling South Florida properties.

And there are a number opportunities out there. The area is currently home to $12.4 billion in troubled commercial real estate assets, according to data analysis firm Real Capital Analytics, and more lenders are foreclosing with the goal of reselling the properties to willing buyers.

That spells big business for distressed asset and receivership
specialists, workout pros and other commercial real estate experts who can navigate the troubled waters of these property types.

“The Chinese word for crisis is opportunity and the future for
seasoned commercial brokers with workout experience has never been brighter,” said Miami real estate consultant Jack Studnicky, vice president at International Sales Group. “Lenders will have to sort out the real and reputable from the promoters who launched their firms in the last two years.”

Studnicky said brokers who see the long term value in protecting
assets, banks and their own reputations will emerge as winners in the current cycle. He warned against “fire sale” pricing that ultimately harms the entire market.

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