"I've known Frank for 20 years; I've watched his company grow," Moore tells GlobeSt.com. "He saw a void there in the services he could offer and wanted to take it to the next level. It fell together quickly. It's an opportunity I would have been crazy to pass up."
Moore tells GlobeSt.com he was nine months into the formation of an asset management group at C&W's Las Vegas office – working with banks on their REO or potential REO properties, analyzing what they could expect to get putting them on the market, and providing expert witness testimony – when Gatski approached him about expanding the service offerings at his firm.
"What we are really want to do is sit down with individual owners and assess the building they have as an investment and really figure out why they have it--for their children's college, for their future inheritance, retirement," he says. "Many times the small investor doesn't really have an answer, it's just their investment. We will help them put together an exit strategy so that they can get out of the investment at the right time because many people miss that window, and in some cases the results are devastating."
Gatski says his personal goal in launching the new division is to bring forward the knowledge and experience that can help clients solve complex issues. "Rob adds a tremendous amount of depth to the brokerage side of our company," he says. "We are providing a higher level of advice and counsel for our clients than ever before."
Moore says he's on salary and the service will not cost the client a dime. Of course, he says he stands to make a commission if he ultimately participates as the broker in any eventual transactions. "That transaction could be a 1031 exchange into a less speculative commercial real estate investment or, depending on the investors' goals, I might advise them they ought to be in treasuries, not real estate," Moore says. "I'd have no problem doing that."
The plan is to be proactive in providing the service to clients. "We want to keep our head down through 2009," he says. "We are looking at the performance of each of our existing clients' buildings in order to suggest economic enhancements and help them plan their future during the difficult economic times this market is going through."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
