Office Property Dispositions After Bankruptcy

An institutional bank sought the appointment of a receiver after the borrower filed Chapter 11 bankruptcy. The collateral was over 450,000 square feet and included five industrial/flex office properties located throughout Indiana. The motion to appoint a receiver was granted and HRE’s team of receivership and fiduciary services specialists oversaw the stabilization of these assets. They retained and managed the local property management team, hired leasing agents, leased up and successfully managed the disposition process of four of the five assets. The one unsold asset was leased by the Indianapolis SWAT team for emergency response training.