Aimbridge Prism Lender Services has extensive experience assisting lenders, servicers and hotel owners with their non-performing hotel loans going through foreclosure, bankruptcy, workouts, and receivership.
We have the knowledge, resources and tools required to make quick assessments and execute strategies needed to stabilize and/or reposition a hotel quickly.
Our deep experience and broad presence across the country enables us to quickly mobilize a team to takeover a hotel and begin the process of stabilization, reorganization, and eventual disposition in a very efficient and cost-effective manner, and our large network of hotel investors helps to provide a successful exit.
Contact us at: Development@aimbridge.com
Our Lender Services Expertise
- Deep understanding of the REMIC environment and its inner workings
- Extensive experience in cases filed in both state and federal courts
- Experience as a Chief Restructuring Officer for the US Bankruptcy Court
- Understanding of negotiated franchise agreements and Property Improvement Plans (PIP’s) with all major brands
- Seller experience in Receivership Sales
Prism Lender Services has been appointed Hotel Receiver or Real Estate Owned (REO) over 300 times, across 35 States.
We have never been appointed gas station receiver, strip mall receiver, or office building receiver, and we are proud of that record. We do one type of receivership - hotel receivership - and we do it better than anyone else.
Prism Lender Services powered by Aimbridge
Prism’s receiver/lender services expertise powered by Aimbridge's expansive management resources gives us the ability to solve your distressed loan problems in any market, nation-wide, with local market knowledge, in an expedient manner.
The Receivership Process
The goal of hotel receivership is to secure and stabilize a hotel to protect the value of the asset. This is accomplished by making management and other necessary physical and operational changes to enhance the hotel's profitability and cash flow, thereby increasing the property's value. The receiver is not an agent for the lender; it is an intermediate third party hired to protect the property and has a duty to both the lender and the borrower.
When is Receivership a good option?
A receiver is a valuable tool for a lender or special servicer when time is of the essence and the value of the collateral is at risk as a result of not acting quickly. Some lenders believe that this potential damage to the collateral needs to be physical and must be able to demonstrate willful misconduct of the borrower. This is not the case in most jurisdictions and simply illustrating that as an income producing property, any dip in revenue, as a result of borrower indifference, can have a material effect on the value. Additionally, the complexity that is inherent in the Franchise Law and Liquor License Law often illuminates the need for the court to act quickly to preserve both of those elements. An absentee borrower, even for a short period of time, can dramatically damage the income stream of the hotel.
What are the hazards of choosing the wrong Receiver?
Choosing an unqualified receiver can have devastating results. Choosing an inexperienced receiver in hospitality is comparable to hiring a podiatrist for your brain surgery. The idiosyncratic nature of hospitality franchise law absolutely requires best-in-class expertise, and that's just what Prism Lender Services offers. Here you'll find the most experienced receivership company, as well as experts in the hospitality industry.
Repeat assignments with key clients are testimony to our successful performance:
Allied Capital | AREA | Bank of America | Berkadia Commercial Mortgage | C-III Capital Partners/Centerline | Clarion Partners | CW Capital | FDIC | GE Capital | Greystone | ING | iStar Financial | KeyBank | LNR Partners | Marathon | Midland Loan Services | Orix Capital | PNC Bank | Royal Bank of Scotland | Situs | Textron | Washington Mutual | Wells Fargo
