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4/02/08
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With all the trouble in the credit and real estate markets, even some of the best sponsors and most prudent lenders are having issues with distressed assets. Fortunately, The Bascom Group announces its timely launch of Bascom Portfolio Advisors (BPA), a joint venture with Jane Hoffner at the helm. In anticipation of looming credit problems stemming from impending loan maturities, potential capital imbalances and decreasing property values, BPA offers workout expertise. Through a range of consulting services, BPA will evaluate distressed assets, identifying financial, operational and market driven issues and present effective solutions to optimize asset values and minimize losses. BPA has resources in place to implement work out solutions, including, asset management/oversight, new capital infusion, and assistance with liquidation.
BPA will integrate Jane Hoffner’s 20+ years of real estate investment, management and work out experience with the extensive resources of The Bascom Group and its affiliated entities. Ms. Hoffner has a track record of optimizing asset values through up and down real estate cycles; her work out experience started with the FADA at the commencement of the savings and loan debacle of the late 1980s and continued at Hanford Healy, managing loan workouts and running the REO department. Ms. Hoffner has managed acquisitions and dispositions for Prudential Real Estate and O’Donnell Armstrong and Partners, a commercial real estate developer. She has spent the past 12 years working for Lehman Brothers, evaluating and overseeing a wide variety of complex real estate transactions.
The Bascom Group, in its 12 year history, has successfully purchased and repositioned distressed properties with in-fill locations. Implementing institutional quality property management and adding extensive capital improvements, Bascom has improved operating performances. To date, Bascom has acquired in excess of 50,000 units in over 200 renovation projects.
When asked about her decision to partner with The Bascom Group in this venture, Ms Hoffner responded, “In all my years of experience I have evaluated numerous properties, deal structures, and sponsors, and I have always been impressed with Bascom’s ability to execute a business plan.” She continued by saying, “we are offering solutions to those that may be overwhelmed by the voluminous amounts of distressed assets the market is producing; partnering with Bascom adds additional expertise as well as capital and operating prowess.”
David Kim, Managing Director of The Bascom Group added, “We have been very fortunate and successful operating our businesses. With Ms. Hoffner as our partner, we see this as a great opportunity to diversify our service offering and abide by our principle belief of promoting better places for communities.”
Please direct any inquiries to:
Jane Hoffner
Managing Director
Bascom Portfolio Advisors
26 Corporate Park # 200
Irvine, CA 92606
949-955-0888 ext 30
jhoffner@bascomgroup.com
David Kim
Managing Director
The Bascom Group
26 Corporate Park # 200
Irvine, CA 92606
949-955-0888 ext 15
dkim@bascomgroup.com
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