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[IMGCAP(1)]SANTA ANA, CA-Commercial real estate services firm RiverRock Real Estate Group has expanded its team for assisting clients with distressed assets with the hiring of managing director Camilo Fabros and director William Gloege. The RiverRock division, which was formed last year, is called the Value Maximization Unit and provides services to assist clients in repositioning, workouts and stabilization/maximization strategies for underperforming and distressed assets.

Fabros, who was a vice president with Colliers International before joining RiverRock, will help complete forensic property diagnostics and opinion of values for clients. This process reviews and analyzes the physical aspects, financial operations, debt, leasing, and market position of assets. Using the information, the team provides recommendations on how to protect, operate and maintain property value and achieve the goals of the client.

At Colliers International, Fabros was a member of the Private Client Advisors Investment Group and National Apartment Advisors Group.  Before Colliers International, he was an associate with Insignia/ESG in Downtown Los Angeles specializing in institutional multifamily investment sales and in Century City specializing in office properties.

[IMGCAP(2)]Gloege will specialize in diagnosing the performance of assets and implementing strategies to stabilize and enhance property performance. His main focus will be evaluating and improving the leasing, operating and management of the properties in order to stabilize the assets and maximize their value.

 Before joining RiverRock, 10-year industry veteran Gloege was with Colliers International, where he specialized in office properties as both a landlord and tenant rep as well as and investment sales and finance adviser working with developers and owners. His career includes experience in the turnaround and value maximization of distressed properties on behalf of both financial institutions and individual owners of underperforming properties.

RiverRock’s Value Maximization Unit, which is headed by EVP Carla Gazzolo, was formed to bolster the firm’s asset management services, property management, construction management, project management, leasing, accounting and other services. Gazzolo comments that with the market in for more trouble before it gets better, “Our approach is designed to be in the best interest of the asset and the ownership.”

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