LOS ANGELES-Locally based National Asset Services, which has $2 billion in assets under management, has formed a series of strategic alliances with receivership companies to provide asset management services designed to safeguard the values of properties and retain tenants during the receivership process. Karen Kennedy, the company's president and founder, explains that NAS has established the new alliances because, "Lenders and other firms involved in proceedings against distressed commercial property must often rely on the services of court-appointed receivers who can protect the property's value by stabilizing operations and retaining tenants."

Kennedy, who also has experience as a court-appointed receiver for commercial properties, says that receivers of distressed office, retail, multifamily and student housing properties are turning to the partnership approach because so many properties across the US are underperforming.

NAS manages both sole owner and multi-owner properties. and offers a wide range of strategic asset and property management capabilities including: Real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; receiver and real estate owned services; loan modification and workout solutions; exit and hold strategies; leasing marketing plans; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services and cost segregation services.

NAS declined to name the receiverships with which it has alliances, citing confidentiality. However, the company also has established strategic alliances with operators, among them Asset Campus Housing, the Real Estate Group, Greystar, Riverstone, Campus Living Village, the Shopping Center Group and Alliance.