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.
• NGA solicited interested parties in hopes of obtaining a reasonable offer for purchase.
• Mortgage creditor determined they preferred to purchase these two properties at Sherriff’s Sale and bring them into their Real Estate Owned portfolio (REO).
Outcome
• Property sold at Sherriff’s sale to mortgage creditor.
