Receiverships

In 2012, Brad Scherer of Atlantic Western was the court appointed receiver for Sabadell Bank on this 87,000 sf warehouse property in Palm Beach County. After addressing many property issues, resolving the foreclosure and securing title in less than 12 months, Atlantic Western successfully brokered the asset sale for the bank.

Brad Scherer, President of Atlantic Western, is an admitted and recognized expert in commercial real estate matters in both Federal Court as well as State Court, and an experienced Florida Court Appointed Receiver. To date, he has been nominated/appointed as a receiver in over 20 different cases and matters in State Court jurisdictions including Broward, Palm Beach, Martin & St. Lucie Counties in Florida.

For specific examples of Atlantic Western’s Commercial Receivership experience please refer to the Experience Section of this website.

Atlantic Western understands the powers and duties of a receiver are directed by state and federal courts through specific court orders and we have a solid track record in following and executing such assignments.

We provide the requisite legal knowledge and experience required to effectively function as a Florida court appointed receiver on complicated real estate matters. When appointed by the court, Atlantic Western provides the benefits of using a court appointed receiver including:

• Protecting the real estate collateral from waste or destruction and preserving the core value of the collateral, particularly in cases of prior fraud or mismanagement.
• Coordinating forensic accounting, auditing as well as traditional accounting services with CPA firms.
• Managing Cash Flow to pay critical expenses in connection with approved budgets.
• Identifying issues of critical concern, and the development and implementation of comprehensive operating and strategic plans including:
  • A Comprehensive Analysis of the Real Estate, its Operations, Management and critical areas of Exposure.
  • Sub-contractor, employee, and cost-effective vendor engagement, management and supervision.
  • Identifying and addressing code enforcement and permitting issues.
  • Identifying, Budgeting and Executing Preventative Maintenance and/or Critical maintenance and Repairs.
  • Permitting, Design, and Construction Services.
  • Development Entitlement Preservation.
  • Commercial and Tenant Build Outs.
  • Securing Deposits, & Aggressive Rent Collection.
  • Managing Existing Tenant Relationships.
  • New Tenant Leasing & Value Enhancement.

In 2009, Atlantic Western was engaged by Scotia Bank as the lender representative in connection with the bank’s $119mm foreclosure on this 420 unit condominium in Palm Beach County. After securing title, serving on the Condo Board and re-positioning the asset, Atlantic Western also assisted in successful bulk –sale and recovery for the lender

• • Preparation and submission of detailed monthly operating reports
  • Aiding in the windup or liquidation of the business real estate.

Clients and the courts benefit from our specialized knowledge of working out sub-performing real estate, honed over decades of experience, making Atlantic Western a powerful and effective resource for these engagements.

BRADLEY A. SCHERER
SELECTED RECEIVERSHIP & EXPERT WITNESS EXPERIENCE
Noteworthy Appointments & Nominations

For more information or to contract Atlantic Western Companies as a Court Appointed Receiver in Florida please contact us by phone or through our website.

For specific examples of Atlantic Western’s Commercial Receivership experience please refer to the Experience Section of this website.