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BLOOMFIELD, NJ-Locally based Prism Capital Partners, LLC has launched a third-party consultation and property management services program for commercial lenders holding distressed and/or REO assets. The new service enables loan underwriters, servicers and officers the ability to leverage the in-house resources of Prism.

“Our CPMS program responds to the continued erosion in market conditions for commercial real estate assets,” says G. William Roesch, a Prism principal and the firm’s chief financial officer. “This program is intended to provide lenders or servicers with a strategic alternative to continuing with the incumbent sponsors/ managers of a troubled asset and as a viable supplement to their own internal staff resources. We know that many assets could land back in lenders’ hands–it is our goal to provide in-depth market knowledge, strategic planning, execution and timely resources to assist these market participants with maximizing their recovery from these assets.”

Some of the program highlights include asset management and strategic business plan formation and execution, the implementation of industry best practices for preventative maintenance and operations and detailed and transparent financial accounting and reporting. The CPMS program also offers capital improvement planning and implementation, a hands-on team of professionals and resource allocation for properties with limited staffing requirements. Prism also provides in-house leasing and marketing services.

“While Prism traditionally is not a third-party provider, our roots as an investment firm and our history of partnering with sophisticated institutional partners make this a logical extension of our activity,” Eugene R. Diaz, a Prism principal, tells GlobeSt.com.

Formed in 2002, Prism has grown into a full-service, vertically integrated real estate company specializing in asset management, property management, financial reporting, construction management, leasing and marketing. Its portfolio of properties under management is upwards of two million square feet within varying asset classes, including office, retail, industrial, mixed-use and land holdings.

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