San Francisco, CA, August 04, 2011 --(PR.com
)-- Many investors are seeking opportunistic commercial real estate assets in today’s distressed market. But, gaining access to quality, off market assets, non-performing notes and foreclosures, can be daunting. Banks, unaccustomed to selling real estate have found themselves overwhelmed with requests and underwhelmed with the quality of pretend “buyers.” As a result, banks have become skittish and prefer to work directly with an elite group of vetted, well-capitalized investors with an established track record of acquisitions. Investors without such connections often end up bidding on listed or on-market properties that are not the opportunity buy the investor was seeking. Such listed assets have already been heavily shopped and thoroughly picked over.
COMAC (Commercial Off Market Assets & Capital) is an established firm that sources bank assets direct from the banks for direct principal buyers. At the core of this model is a nationwide network of area managers whose sole function is to develop relationships with Asset Managers at specifically targeted financial institutions. The model has provided a steady flow of assets for qualified buyers.
Now, COMAC has introduced the Elite Program. Using its deep lender relations, COMAC takes a qualified investor’s proof of funds, track record and acquisition criteria directly to the top banks in order to move the investor “to the front of the line” and gain early access to distressed opportunity buys, before they are released to the general public. A minimum of $200M (USD) hard funds to deploy by December 31st is needed to qualify for the Elite Program.
In a 2011 Distressed Debt report by Ernst & Young, it was noted that “…distressed investors who stay active in the game are finding more success.” Many, including COMAC, believe that even more assets will become available off market in the Q3 and particularly Q4 of 2011 and will continue into 2012. It is estimated that about $1.3 trillion dollars of commercial debt comes due between now and 2013. Some of this debt may be already financially distressed while some may be perfectly performing, but is hampered by an impending maturity date. Because of the decline in value combined with new lower loan-to-values ratios, much of this debt will not qualify for refinancing and these distressed notes will become available to strategically-placed cash buyers.
“COMAC’s Elite Program immediately puts our nationwide network of lender relationships to work for qualified investors,” noted COMAC Founder and CEO, Terry Robinson. “Within a matter of days, we can place an Elite Program investor in direct contact with specifically targeted banks across the country, after following bank protocols.”
With the Elite Program, COMAC not only introduces investors to banks and sets up a pipeline of assets to purchase, but COMAC screens properties and assists with the entire acquisition process. Only a small group of non-domestic investors will be accepted into the program.
Please contact Kathy Heshelow or Robert Bright today to discuss the Elite Program or further information about COMAC.