Monday, August 15, 2011

Practice What You Preach

The Peak Corporate Network entities’ expertise is in both distressed and fully-valued residential and commercial real estate. With a list of specialized services under one roof that includes distressed note acquisitions and joint venture opportunities, loan servicing, financing solutions, commercial and residential mortgage services, foreclosure services as well as 1031 exchange services, to name a few, the Peak Corporate Network truly has no peers. The question becomes, can it in fact, deliver on its promise to be a one-stop resource for ‘Everything Real Estate?’ When we look at how the Peak Corporate Network relocated to its new headquarters earlier this year as an example, the answer is a resounding “yes.”

In January, 2011, the Peak entities relocated to the prestigious Warner Center in Woodland Hills, California. This relocation leveraged virtually every service in its platform of services. Here’s how:

One of Peak’s core strengths is the ability to identify distressed investment opportunities with growth potential. The mortgage on Peak’s soon-to-be-new headquarters was in default and Peak successfully acquired the note from the lender at a 50% discount. Utilizing its default servicing and foreclosure units, a foreclosure solution acceptable to both Peak management and the delinquent borrower was developed. Purchase financing was secured through Peak’s commercial financing unit, and escrow services were facilitated through the Peak affiliate.

Recognizing the property’s potential as both a corporate headquarters and for its ability to generate a strong ROI through rental income, Peak management rehabbed the entire 47,000 square foot structure utilizing internal contracting resources. Once completed, Peak took half of the building for its corporate offices and leased most of the remaining space. Peak is now, in addition to being an owner-resident, an owner-landlord managing the asset.

Next in the process was disposing of Peak’s original headquarters building. Peak’s commercial real estate brokerage specialists acted as listing agent and the property was sold within six months of the move. Employing the same value-added strategies as it does for its clients, Peak negotiated the sale of the property under the IRS’s 1031 Reverse Exchange provisions allowing for a “like-kind” exchange.

The Peak Corporate Network entities not only effect creative and flexible ideas and solutions through the pooling of resources and the array of services provided, in this scenario, Peak clearly demonstrates an affinity with its client base to experience the range and depth of ‘Everything Real Estate.’

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