LOS ANGELES-Locally based Richard Hollowell has been named managing director/national real estate practice lead for BBK, a global restructuring, turnaround management, and bankruptcy advisory firm. He will lead nine real estate and workout advisory professionals who serve BBK as managing directors from offices in New York City, Chicago, Dallas, Denver, Detroit, Phoenix, Nashville, and Los Angeles.

He tells GlobeSt.com that in his role, he will "focus on assisting both debtors and creditors challenged by the protracted real estate down-cycle, as well as portfolio property owners who are suffering under diminished cash flows, value diminution, and incresing vacancies. Loan restructuring, bankruptcy advisory, asset dispositions, and court appointed receiverships are among our core services."

The company’s service platform includes: court appointed receiverships; development of loan exit analyses; CMBS and bank CRE loan restructuring; bank C&I loan workouts; bank acquisition due diligence; portfolio analysis and valuation; bankruptcy advisory/out-of-court restructuring; non-performing loan and REO sales; project build-out oversight; expert testimony; 363 trustee sales; and property reuse analyses. Formed in 1977, BBK’s industry specialties include automotive, aviation, manufacturing, healthcare, marine, banking, hospitality, and governmental, among others.

For more than 35 years, Hollowell has specialized in the evaluation management and disposition of real estate-related assets. He is recognized for advisory work provided to FDIC-insured

banks, thrifts, pension funds, insurance companies, and federal agencies—including the FSLIC, RTC and FDIC.

Among his private sector clients, he has worked with land developers, homebuilders, commercial property developers and investors, and closely-held portfolio property owners. His experience includes shopping centers, office buildings, industrial facilities, multifamily apartments, planned unit developments, hotels, condominiums, and historic redevelopments.

Among his career affiliations, he served as national president of Real Estate Recovery Inc. He also served as a managing director for Alvarez & Marsal Real Estate Advisory Services; as well as the J.E. Robert Cos., G.E. Capital, National City Bank and Jacobs Visconsi & Jacobs Co.

 

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