NGA Role • Sumner Saeks, of New Growth Advisors, was appointed receiver in Hamilton County Common Pleas Court to maintain and sell the property formerly operated as Quality Inn Norwood. Problem • The hotel closed in June of 2014 amid litigation in State, Probate and Federal Courts. • For sixteen…
Fortress Storage Receivership (Milford, Ohio)
New Growth Advisors was recently appointed receiver in Clermont County Common Pleas Court of an operating self-storage facility in Milford, Ohio operating as Milford Fortress Storage after a large, national lender referral. NGA operated this medium sized self-storage operation, increased tenancy and monthly operating cash flow and sold the going-concern…
Ashley Brooks, Inc. and Golf Course Management (Bethel, Batavia and Amelia, Clermont County, Ohio)
NGA Role • NGA was appointed receiver over two golf courses, a closed manufacturing operation and associated real estate including a residential property on the manufacturing premises. Problem • Need to liquidate the manufacturing operation. • Sell off the manufacturing and residential real estate. • Operate the Batavia golf course…
Ole Fort IGA, Logan Street IGA and 709-711 Black Eagle Drive (Fort Recovery, and Celina, Mercer County, Ohio)
NGA Role • NGA appointed receiver by Mercer County Common Pleas court over the operating grocery store in Fort Recovery, Ohio and the shuttered former grocery store property in Celina, Ohio. • Subsequently the owner’s residential property was added to the receivership at the request of the secured creditor to…
P&P Develpoment Group, LLC (Cincinnati, Ohio)
NGA Role • Court appointed receiver in Common Pleas Court Hamilton County Ohio. • Obtain a receiver’s sale of this vacant building. Problem • Secured creditor foreclosed and wanted a receiver appointed to secure the premises and obtain a receiver’s sale of the property NGA Solution • NGA was contacted…
Amco Products, Inc. and NLR Properties, LLC (Dayton, Ohio)
NGA Role • NGA was appointed receiver in Hamilton County Common Pleas Court to operate and recommend to the court the whether the facility would be closed, sold as a going-concern or some alternative outcome. • Maximize recovery of asset value for all creditors. Problem • Amco Products saw many…
Screw Machine Products Company (Amelia, Ohio)
NGA Role • NGA was retained at the recommendation of the secured lender to provide turnaround consulting, management coaching and refinancing guidance. Problem • Third-generation managed company had fallen on hard times due to loss of major customers, lack of cash to purchase raw materials, lack of credit with vendors…
THR, Inc. Receivership (Hamilton, Ohio)
NGA Role • NGA appointed as receiver over certain real estate of this company by Butler County Court of Common Pleas. Problem • These distressed multi-family properties were in neglect due to lack of capital for repair and maintenance. • Affordable Housing deed restrictions posed challenges in marketing properties for…
David Robinson Receivership (Cincinnati, Ohio)
NGA Role • NGA appointed as receiver over these two multi-family apartment buildings by Hamilton County Court of Common Pleas. Problem • These two buildings were experiencing vacancy issues, operating problems and tenant distress. NGA Solution • NGA retained a management firm to provide day-to-day management in this multi-family situation.…
Darnell Walker Receivership (Cincinnati, Ohio)
NGA Role • NGA appointed as replacement receiver over this real estate Hamilton County Court of Common Pleas. Problem • NGA learned that original receiver had allowed this vacant property to be heavily vandalized and rendered unlivable. NGA Solution • NGA secured the property. • NGA listed this property for…
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