Commerce Real Estate Solutions Launches Initiative for Troubled and Distressed Properties

John Taylor to Lead New Initiative

SALT LAKE CITY, June 9, 2010—Commerce Real Estate Solutions today announced that it has launched a new service line designed to help lenders with the marketing and managing of troubled and distressed commercial real estate assets.

There is currently $1.4 trillion of commercial property debt in the commercial mortgage-backed securities (CMBS) market, and over $1.8 trillion with banking institutions up for renewal in the next four years, according to Real Capital Analytics. Due to the tight credit markets, even some of those properties that are occupied and performing well will have difficulty with refinancing in the near term. These “troubled” assets combined with the already “distressed” commercial assets that have already been taken over by lending institutions will place enormous burdens on commercial lenders for the next three to five years as the fallout from the economic crisis works its way through the system.

To address the specific needs of these commercial real estate lenders, Commerce Real Estate Solutions will now offer a comprehensive service that brings together its regional reach, nation-wide partnership with Cushman & Wakefield, and its Receivership, Property Management, Valuation and Disposition services to provide clients with a one-stop solution to help them transform these challenges into opportunities.

John G. Taylor, MAI, CCIM has been promoted to Director of Corporate Services, and will oversee the new initiative. Taylor has over 23 years of commercial real estate experience, and has recently worked directly with Cushman & Wakefield’s Western Resolution Group in establishing a system of services to move these properties out of the lenders “troubled and distressed” portfolios and into the “performing” real estate categories.

“This is fundamentally different from what many real estate agents are doing to focus on distressed commercial real estate for listings and sales,” said Taylor. “Commerce Real Estate Solutions is integrating Receivership, Property Management, Consultation, and Disposition services into a single point of contact for Lenders. This way we have all the necessary resources working as one team to meet the ultimate goal of the client. Not all the services will be needed with each assignment/property, but we can draw on the network of services when necessary.”

“Adding the expertise of marketing and managing troubled assets to our service lines offers an even broader, more comprehensive portfolio of services to our local, regional and national clients,” said John Miller, Senior Managing Director of Cushman & Wakefield – Commerce. “We are pleased to be able to react swiftly to our clients’ needs, to the market and to the economy by offering this new initiative and by demonstrating our commitment to our clients based on the ever-changing business environment.”

“We are happy to bring the regional resources and expertise of Commerce Real Estate Solutions together with Cushman & Wakefield’s national reach to give our commercial lending clients the broadest, most comprehensive solution possible for marketing and managing of troubled and distressed assets,” said Commerce Real Estate Solutions President and CEO Mike Lawson. “This new initiative will also allow our company to respond dynamically to new trends as they arise. We are in a new economic environment that will continue to change the way commercial real estate and businesses work. With this effort, we now have another important tool to help guide our clients toward a successful future.”

About Commerce Real Estate Solutions:

Commerce Real Estate Solutions has been among the top commercial real estate brokerage firms in the Intermountain West and Pacific Northwest for over 30 years. Commerce Real Estate Solutions is headquartered in Salt Lake City, with offices in Provo/Orem, Clearfield, and St. George, Utah, Las Vegas, Nevada, and Seattle and Bellevue, Washington. We offer a full range of brokerage services, valuation and consulting, client representation and property/facility management. With over 260 brokers and staff members, Commerce Real Estate Solutions has the tools, resources, and experience to provide world class service to investment and corporate real estate clients on a global basis.

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