National Asset Services Links With Receivers

LOS ANGELES-Locally based National Asset Services, which has $2 billion in assets under management, has formed a series of strategic alliances with receivership companies to provide asset management services designed to safeguard the values of properties and retain tenants during the receivership process. Karen Kennedy, the company’s president and founder, explains that NAS has established the new alliances because, “Lenders and other firms involved in proceedings against distressed commercial property must often rely on the services of court-appointed receivers who can protect the property’s value by stabilizing operations and retaining tenants.”

Kennedy, who also has experience as a court-appointed receiver for commercial properties, says that receivers of distressed office, retail, multifamily and student housing properties are turning to the partnership approach because so many properties across the US are underperforming.