Property Management (CON’T)
The Case Study of Northwood Commons demonstrates the impact of these management techniques. A number of long time tenants who renewed their leases, including Ed’s Fine Wines, Sole n Heel and Nicholas Financial stated in writing that NREV was the best manager which the center had ever had.
Commercial Receivership
NREV is a skilled asset manager, a requisite for a quality receiver. The receiver first protects and stabilizes a property in foreclosure, then seeks to maximize value of the Receivership Estate. The court order of appointment should grant sufficient flexibility and protection to allow a receiver to maximize a property’s value, while saving court time and legal expense resulting from possible motions and hearings. As Vice Chair of the Florida Bar’s Receivership Subcommittee, Monroe has insight into all phases of a receivership—from appointment to discharge, and recently spoke at a Florida Bar conference on receiverships. He has just completed a successful 22 month receivership for the country’s largest special service. NREV received favorable feedback letters from the special servicer, the City of Safety Harbor, numerous retail, restaurant, and office tenants, professionals and other property stakeholders.
Development
Peter Monroe has 15 years of experience as an owner/developer of shopping centers, office parks and triple net tenant projects. His skills as a Florida lawyer, Florida real estate broker and Florida Class A General Contractor complement his direct development experience. A map and listing of his Florida developments is included in the About NREV section of this website entitled “Developments and Projects Sold in Floridaâ€. These projects comprise over 600,000 square feet, and every project was profitable. In these projects, Monroe and his companies personally assumed all development responsibilities from design and development oversight to final sale, and all management responsibilities from accounting and property management to leasing and construction management. Details of all developments are available by contacting NREV.
In-house Legal Support
Commercial real estate experts understand that swift and accurate legal drafting of leases and contracts can often make or break a deal. As a Florida attorney, Monroe often drafts leases and contracts for his properties- saving owners significant legal fees and expediting transactions from leasing to sales. The Case Study provides detail as to how competent in-house legal skills accelerated the turnaround of the subject property. The quality and importance of NREV’s in-house legal skills has been emphasized in writing by the Special Servicer and several tenants.
