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Firms Mining Opportunity from Distress

TAMPA, FL-Plasencia and Bainbridge are the latest to launch distressed-asset divisions.

By Carl Cronan | Updated on January 16, 2009

(Carl Cronan is editor of Real Estate Florida.)

TAMPA, FL-Commercial real estate firms throughout Florida are continuing to expand services to include distressed properties in response to the ongoing recession. Locally based Plasencia Group has reinstituted its distressed hotel advisory practice, while Wellington-based Bainbridge Cos. has launched its own distressed property services entity.

Plasencia Group, founded in 1993, has provided similar services during three past market downturns to owners and lenders of distressed hotels and resorts. Those services include valuation analysis, portfolio reviews, portfolio and property strategy, asset management, capital expense analysis, and intermediary and receivership services.

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