Sperry Commercial Global Affiliates Launches Commercial Property Resolution Team
Irvine, Calif. (May 30, 2023) — Sperry Commercial Global Affiliates (SperryCGA), a National commercial real estate firm, has announced the launch of its Commercial Property Resolution (C.P.R.) team. The C.P.R. team consists of consultants known to maximize the value and return of capital from commercial assets that may have a loan maturing, a low DSCR or high LTV. The team provides immediate underwriting solutions nationwide to real estate clients and financial institutions to address these challenged assets.
“By expanding SperryCGA’s consultancy services into a full-service national solution platform, we demonstrate our ability to adapt quickly to changing market dynamics while providing essential services to investors, lenders and special servicers,” said Mark Hinkins, CCIM, FRICS, President of SperryCGA. “SperryCGA’s franchise model has emerged as a competitive alternative to larger commercial real estate firms.”
With the help of strategically engaged partners, SperryCGA’s C.P.R. team will provide custom solutions to its clients based on their needs and business goals. Furthermore, the team will provide various options and creative strategies to protect the client’s interests as top priority.
Our National strategic partners include 1st Service Solutions, specializing in loan workout solutions and our preferred transaction platform is Ten-X, the world’s largest, online commercial real estate exchange. Other regional and local strategic partners include receivers, attorneys, and property managers.
“Our goal is to provide unparalleled services to our clients and act as their trusted partners throughout the entire process,” said David Baird, National Director of Institutional Investments at SperryCGA. “We are focused on a team approach to provide the best services nationwide, ensuring that our clients can make informed decisions about their commercial properties.”
“Overall, it is estimated that approximately $400 billion of commercial real estate loans will mature in 2023 and $500 billion will mature in 2024. At the same time, interest rates are increasing, property values are declining, vacancy rates are rising, regional banks are failing, inflation is soaring, and a recession is probable” said Ann Hambly, CEO and Founder of 1st Service Solutions. “There has never been a more important time than now in our industry to equip clients with workable solutions as they face this uncertain future. I am thrilled to be a part of this incredible resolution team.”
“Ten-X is very excited to be chosen as the preferred digital transaction platform for Sperry CGA’s newly launched Commercial Property Resolution (C.P.R.) team.” Said Brandon Lewe, VP of Sales at Ten-X, “ Over the past 14 years the Ten-X platform has been leveraged by Brokers and Investors to transact over $31B worth of commercial real estate online. We look forward to expanding our relationship with Sperry’s new C.P.R team and provide best in class service to their clients.”
SperryCGA has been built on the cornerstone of cooperation. The consultants on the C.P.R. team embrace this philosophy to maximize the resolution of their clients’ assets.
About Sperry Commercial Global Affiliates, LLC
Sperry Commercial Global Affiliates, LLC offers the highest level of commercial real estate services available through thoughtful, cooperative, and ethical practices. The firm is headquartered in Irvine, CA, with 61 affiliate offices across the United States. The first international affiliate office was opened in April, 2021 in Mexico City. CEO Rand Sperry specifically designed the company’s value-based franchise model to be able to weather the economic downturns and negative real estate trends that have occurred throughout history.
About 1st Service Solutions, Inc.
1st Service Solutions is the nation’s leading borrower advocacy firm founded in 2005 by Ann Hambly. To date, the firm has advocated on over $35B of commercial real estate on behalf of owners. The firm specializes in assumptions and workouts on all property and loan types nationwide. We equip owners with the necessary insight, analytics, and knowledge of the rule book to allow them to make fully informed decisions.
CoStar Group (NASDAQ: CSGP) is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Included in the S&P 500 Index and the NASDAQ 100, CoStar Group is on a mission to digitize the world’s real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives. Ten-X, a brand within CoStar Group, is the world’s largest, online commercial real estate auction platform. The Ten-X platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close deals.
David Baird, David.Baird@SperryCGA.com, 702-349-4920
Cheryle Powell, Cheryle.Powell@SperryCGA.com, 720-330-4333