40 years of Workout Advisory, Litigation and Commercial Receivership Experience

Atlantic Western’s principals have a 40 year track record of delivering specialized workout and commercial receivership services to banks, regulatory agencies, Wall Street based institutional funds and financial firms; on assets throughout the United States with a primary emphasis in South Florida. Our backgrounds as bankers and work-out specialists gives us the combination of a creditor’s perspective together with extensive operating experience – allowing us to provide the most cost-effective solutions on all types of real estate including retail, office, industrial, land as well as multi-family and residential development projects.

Sabell Industrial Recieverships

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 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 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.
Court Appointed Receivership South Florida

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

2013 502009CA028067XXXXMBP PALM BEACH COUNTY T. McCARTHY/E. FINE RESIDENTIAL PUD RECEIVER/MONITOR
2012 5020128CA008373XXXXMBAF PALM BEACH COUNTY JANIS BRUSTARES KEYSER INDUSTRIAL RECEIVERSHIP
2011 10-11704 CACE (11) BROWARD COUNTY JEFFREY STREIFELD OFFICE RECEIVERSHIP
2010 MARTIN COUNTY MCDONALD HOPKINS LAND RECEIVERSHIP JONES
WALKER
2010 502008 CA 40056 (AW) PALM BEACH COUNTY MEENU SASSER INDUSTRIAL RECEIVERSHIP
2009 PALM BEACH COUNTY STEARNS WEAVER OFFICE RECEIVERSHIP
2009 PALM BEACH COUNTY JONES FOSTER INDUSTRIAL RECEIVERSHIP
2008 PALM BEACH COUNTY ENTERPRISE BANK APARTMENT RECEIVERSHIP
2008 MARTIN COUNTY MCDONALD HOPKINS RETAIL RECEIVERSHIP
2007-8 PALM BEACH COUNTY NASON GILDAN CONDOMINIUM RECEIVERSHIP
2000 CL-004627-AW PALM BEACH COUNTY WALTER COLBATH OFFICE RECEIVERSHIP
1999 97-7244-CA-RWP LEE COUNTY CIRCUIT WILLIAM MCIVER RETAIL EXPERT WITNESS
1998 98-868-CA-09 ST. LUCIE CIRCUIT SCOTT KENNEY INDUSTRIAL RECEIVERSHIP
1997 CL-96-7830 PALM BEACH COUNTY JAMES CARLISLE RETAIL RECEIVERSHIP
1997 97-321-CA-09 ST. LUCIE CIRCUIT SCOTT KENNEY RETAIL RECEIVERSHIP
1997 97-261-CA-09 S T. LUCIE CIRCUIT SCOTT KENNEY RETAIL RECEIVERSHIP
1994 CL-93-10478-AI PALM BEACH CIRCUIT LUCY BROWN INDUSTRIAL RECEIVERSHIP
1991-5 FEDERAL BANKRUPTCY EXPERT Wit TAMPA/ORLANDO/FT. LAUD (NUMEROUS) VALUATION

For more information or to contract Atlantic Western Companies as a Florida Court Appointed Receiver 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.