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Apartment Realty Advisors' Corson

'You may have an asset where the conditions are such that your best option is to get rid of it now.'

By Sule Aygoren Carranza | Updated on January 05, 2009

Investment sales brokerage firm Apartment Realty Advisors, based in Atlanta, has formed a national Distressed Assets Solutions Group (DASG) to provide assistance to servicers and lenders who find themselves burdened with distressed multifamily assets. To lead the new division, the firm has tapped Chicago-based principal Debbie Corson.While ARA professionals have been providing valuation, workout and note sales services in various markets for years, the DASG formalizes the services under one structure. The team consists of 27 specialists who focus on conventional multifamily, land, student and seniors housing assets. Recently, GlobeSt.com spoke with Corson about market conditions, the formation of the DASG, its strategy and what to expect next year.

GlobeSt.com: Tell me a bit about why and how ARA formed the Distressed Asset Services Group.

Corson: Obviously the economy and the tight credit markets have taken a toll on people’s ability to get financing. We’re seeing a lot more distressed assets, not just in the markets that have had a lot of employment loss, but across the country. Many of us at ARA have been through this type of market in the past and have a lot of experience in dealing with distressed assets, so we felt the timing was right to set up a group to help the lenders and servicers with working through their assets.

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