PHOENIX-1st Service Solutions has opened an office here and tapped Kevin Kopp lead it.
Kopp will serve as director of the office, which will focus on clients in Arizona, California, Colorado and Nevada. 1st Service Solutions assists commercial real estate borrowers with debt restructures, assumptions, defeasance, discounted payoffs and equity and debt solutions for non-performing loans. The firm is currently negotiating $4 billion in loans across the US.
Kopp and his partner Jeff Boyd decided to establish 1st Service Solutions Arizona after working with 1st Service Solutions and its founder and CEO Ann Hambly as clients. The duo have their own investment firm, North Coast Investors Group, which owns 11 shopping centers worth $150 million.
“The company helped us modify one of our CMBS loans, and we saw the value of what it provides,” Kopp tells GlobeSt.com. “Our experience as an owner that has gone through a CMBS loan modification gives us a ton of credibility with other borrowers because we’ve been there, done that.”
Kopp and Boyd will focus on business development activities, while 1st Service Solutions’ Dallas headquarters will continue to focus on execution and working with special servicers. “Our real goal is to build the brand out here and spread the word to borrowers in our four-state region,” Boyd tells GlobeSt.com. “There’s plenty to keep us busy since so many loans that are in default are in Western markets.”
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.
