Sierra Consulting Group and its professionals have been serving as court appointed receivers for many years. As receiver, we operate and manage both distressed real estate and operating companies at the request of lenders and owners. Lenders select Sierra both for our extensive experience as well as our ability to quickly protect and preserve the lender’s collateral. Owners appreciate our cost effective services and ability to quickly assess the situation and offer solutions.

Our receivership engagements include partially-built construction projects, distressed real estate and operating companies. We have provided our services for nearly every property type, including retail centers, multi-family projects, office buildings, industrial parks, hotels, time-shares and single-family developments. For operating companies, our engagements have included retailers, manufacturers, developers and other businesses.

Most of our real estate receivership assignments are requested by lenders, but we are also brought in by partners or other interested parties where an independent third-party is needed.

With real estate, we are often brought in before a foreclosure to take control of a property and preserve the lender’s collateral, which includes the collection of rent and the payment of operating expenses. With partially constructed projects, we manage the project and oversee its completion. Many times after a secured lender has foreclosed, they are in the need for someone to manage and lease the property until it can be sold, as well as someone to find a buyer. Sierra’s real estate team includes experienced property managers, brokers and other real estate professionals. We can assist in the leasing and sale of properties through our in-house property managers and other real estate professionals, as well as through our many relationships with third-party brokers, buyers and tenants. Click here for additional information on Sierra Real Estate Solutions.

With operating companies, we are hired by both owners and lenders to take control of businesses and make sure monies are flowing to the proper parties and minimize the decline in enterprise value. Our engagements often arise from litigation where a responsible person is needed to ensure the assets of the company are not diminished until the litigation matter is resolved, but we are also brought in to help avoid litigation by serving as an impartial party during a partnership dispute. Our team includes experienced forensic accountants that can determine whether improper payments have been made and we work closely with outside legal counsel to recoup any such payments. Many times the professionals at Sierra are assigned the task of operating a business, and thus we have served as CEO, CFO and COO for a wide variety of companies and industries. Whether we are retained by a lender or an owner, we can quickly take steps to preserve the value of an operating company and assist in the turnaround and restructuring of the company.

Sierra Consulting Group can provide cost-effective receivership services for almost any situation and more likely than not, its professionals will have pre-existing experience for the particular circumstance, property type or industry involved.