MIAMI—Call it yet another sign that distressed assets are flushing through the Florida sales cycle. Continental Real Estate Companies (CREC) brokered the sales of 15 lender-owned assets valued at nearly $100 million in the four quarter of 2011.

The deals come after three years of market instability that saw the value of Florida’s distressed real estate top $12 billion while asset values dramatically declined. During those 36 months, CREC's distressed asset practice managed 35 court-appointed receiverships, ultimately positioning the firm to maximize asset value and dispose of the properties via sale.

“There is no slowdown in sight as it relates to transactions this year,” CREC chairman and co-founder Warren Weiser tells GlobeSt.com. “For us, 2010 was a good year, 2011 was a robust year and right now, our pipeline for 2012 will be equally as strong, if not stronger."

In one of the most recent transactions, CREC represented BACM Forum Way Office in the $15 million sale of the Sabadell United Bank Building and the Horizons Building, both in West Palm Beach, to an affiliate of Pebb Enterprises. The two office buildings total 177,000 square feet.

CREC also represented CS Pines Plaza in the $9.6 million sale of Pines Plaza, a retail shopping center totaling 68,170 square feet in Pembroke Pines. Morris Pines Associates purchased the property, which is home to Office Depot, Buy Buy Baby, and Aldi Supermarket. CREC was previously charged with leasing the property on behalf of the lender and achieved 100% occupancy, maximizing asset value and paving the way for the eventual sale.

CREC also executed seven multifamily and land transactions in recent months representing $50 million in closed sales. The transactions have been broadly represented across Central, North, and South Florida including Duval, Monroe, St. Lucie, Seminole, Miami, Broward and Palm Beach. CREC has executed vacant land, partially completed, fractured condominium, and negative cash flow transactions.

“We’ve reached a point of stabilization in underlining rents for these assets, we continue experiencing capital interest in Florida real estate, which boosts pricing, and there is willingness in the lending community to transact on these properties,” Weiser says. “So far, the first quarter of 2012 for the company looks similar in volume to the fourth quarter of 2011.”

As Weiser sees it, the market is taking its first steps toward a long-term recovery. He expects 2012 to witness increasing volume as loan maturities increase and distressed properties continue to work their way through the system. CREC has an additional 15 lender owned assets valued at nearly $100 million currently on the market and sees no signs of a slowdown in its transactional pipeline.