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PHOENIX-After years of analyzing, managing and developing millions of square feet of its own retail and mixed-use properties as well as providing consulting services, Evergreen Development Co. has launched a new group to provide the same services to outside clients. Evergreen Commercial Advisers is geared to work with law firms, insurance companies, consultants and investors on everything from development to asset management.

Evergreen Commercial Advisors consulting manager Roger Arenswald says the market dictated the company’s decision to form the group. Given the current economy, there is going to be some opportunity in the field. “We’re not looking to purchase or snatch up distressed assets, but to take care of, or help people who have distressed assets analyze what they have, manage it, and continue to protect the value,” Arenswald tells GlobeSt.com.

Evergreen Commercial Advisors offers financial consulting and analysis; asset management and project management and development. The latter includes entitlements, permitting, construction management and even LEED certification strategy. Arenswald says Evergreen Commercial Advisors already has its first client, a bank that is foreclosing on land.

Though banks aren’t Evergreen Commercial Advisors’ sole market, Arenswald says the financial institutions have the strongest need right now for help. “Banks, primarily, are the ones holding onto a lot of these assets,” he explains. “They don’t want to be landlords. A year ago or so they could dispose of these assets quickly.” But with the markets today, quick disposal is not an option, he points out.

Nor are frozen credit markets the only problem. Arenswald predicts that the next half year will be very volatile on the retail side. Adding to the issue is that come 2010, a lot of notes are going to come due on retail assets, he says.

“In Phoenix, land has been the first part of this, and a lot of it has gone into foreclosure,” Arenswald comments. But despite the gloomy news coming out of the retail sector, “this really hasn’t hit the commercial side, not yet, but the malls, among others, are in danger,” Arenswald says.

He points out Evergreen Commercial Advisors can provide help during turbulent economic times because the company has been managing while offering consulting services to others along the way. “We’re experts in this,” Arenswald says. “We can help others with what we know.”

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