Management of Distressed Properties
As an investor in real estate, Milan’s specialty has been turning troubled eyesores into thriving assets. We have filled more than one thousand apartments units in tough times and several hundred thousand square feet of office and retail space in projects with significant vacancy issues. We can put this experience to work for you in your troubled assets.
Milan Capital offers its services to fill the needs of lenders and banks when a commercial or residential property is in the foreclosure or bankruptcy process. Members of Milan’s senior management staff have the experience required to manage commercial or residential property while in receivership, under bank ownership (REO), or under the control of a bankruptcy trustee.
Milan will assess the property and quickly identify problems, whether structural, operational or fiscal. We then will implement a business plan that can quickly accommodate the sale of the property to a prospective buyer. We inspect the physical plant, review lease obligations and rent increases, ensure certificates of insurance are updated and in order, take control of pending legal matters, look at cost efficiencies to minimize expenditures without sacrificing service, renew expiring leases, and transition the property expeditiously to maximize revenue and minimize any potential losses.
In addition, Milan Capital commits to:
- Developing and implementing a property strategic plan
- Evaluating and creating marketing, advertising and leasing strategies
- Developing and implementing an optimal exit strategy
Proactive Operations & Maintenance
Developing and implementing a Preventative Maintenance & Operations Plan for your property is essential to delivering high-quality property management services. A strong operational plan, including preventive and proactive maintenance for the property and its systems, contributes significantly to maintaining the value of the asset.
Milan Capital will develop a maintenance plan for the property, working with engineering and maintenance personnel. We will implement the plan and ensure the quality of operational activities for your facility on a monthly basis. Milan Capital will also bid services regularly and seek economies of scale to ensure efficient and cost effective services without sacrificing the quality of those services.