"ITC Crossing North is a newer, well-located property and it isunfortunate when properties such as this slip into receivership,"Levin's executive vice president and head of the company's REOpractice, Robert Carson, tells GlobeSt.com. "But the court's orderwill protect the lender, and enable us to lease about 20,000 squarefeet of vacant space. We will also ensure that day-to-dayoperations are carried on. In turn, this gives the tenants a levelof confidence they need to have in the shopping center."

Levin Management expects that we will see more similarsituations in the near future. According to Carson, "Based onmortgage financing that was done during the height of thecommercial real estate market between 2004 and 2007, and based onthen-current values, which have since declined, receivershipsituations will soon begin to occur with greater frequency, and weare positioned to mobilize quickly on these assignments."

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