Honolulu, HI, February 25, 2009 --(PR.com
)-- NAI ChaneyBrooks announced it is participating in the Commercial Property PowerSale™, an Accelerated Marketing Program created by NAI Global to help property owners and financial institutions dispose of troubled real estate needs.
NAI Global is the premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide. NAI ChaneyBrooks is the exclusive NAI member firm in Hawaii and Guam.
“The global economic slowdown and frozen credit markets have caused a major disruption in the property sales market and we are working closely with our clients to find the right marketing solution,” said Steve Sombrero of NAI ChaneyBrooks. “NAI’s accelerated marketing program is a boon for clients who need to sell an asset or portfolio quickly and confidentially. This is the right solution for these turbulent times.”
“Delinquencies are on the rise, and with an estimated $400 billion dollars of commercial real estate loans coming due in 2009, we believe there is an urgent need for nontraditional marketing approaches,” said Jeffrey M. Finn, President & CEO of NAI Global. “The days of buyers standing in line for each new offering ended abruptly with the credit crisis in 2008. With limited access to new capital, more and more property owners are faced with a difficult situation – what to do with their troubled asset as loans come due in a depressed economy and with a distressed debt market. Our Accelerated Marketing Program gives clients the opportunity to sell their asset quickly, reducing their holding costs and securing true market value for the property.”
The Commercial Property PowerSale™ employs a variety of accelerated marketing techniques that have proven effective in previous economic cycles when traditional sales channels are gridlocked. Property owners will have the option of offering their property for sale via a series of live online auctions, sealed bids or a unique combination of the two formats. Properties in the Commercial Property PowerSale™ benefit from an aggressive marketing campaign that includes focused print, broadcast and electronic advertising, and a direct-to-buyer outreach to more than 175,000 active buyers. Sellers are assured a shortened sales process and a date certain sale schedule. The three program options – Auction Marketing, Sealed-Bid and Sealed-Bid Plus™ – set up a competitive bidding environment that creates urgency, forcing buyers to act immediately.
“The Accelerated Marketing Program is designed to meet the demands of our clients – property owners and financial institutions – with troubled assets, as well as sellers with healthy properties that are having trouble finding a buyer in today’s market,” said Finn. “Together with our longtime partner, Higgenbotham Auctioneers International, we have successfully completed more than $2.3 billion in sales through accelerated marketing programs. We are able to leverage our knowledge and relationships with the most active buyers at any given time to help our clients achieve the best possible value for their asset, despite the current economic climate.”
The program is open to both private and institutional owners and will include the sale of both commercial real estate equity and loans. Sellers may submit an individual asset or an entire portfolio, and property types will include everything from office, industrial, retail, hospitality and multifamily properties, to residential subdivisions and land for development. Both performing and non-performing commercial real estate loans may also be offered for sale. The NAI team will evaluate each property and guide the seller through the program process, helping them to choose the sales vehicle that best suits their needs.
Property owners and financial institutions interested in learning more about the Commercial Property PowerSale™ should visit www.naiglobal.com/amp or contact Ronald K Adachi (S), Vice President, NAI ChaneyBrooks 808-544-1605
NAI ChaneyBrooks was founded in 1958. As a member of NAI Global, NAI ChaneyBrooks has a network of over 5,000 real estate professionals with 325 offices in 55 countries, which completes over $45 billion in annual transaction volume. NAI ChaneyBrooks’ extensive services include brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services
Contact: Ronald K. Adachi