La Jolla Pacific, Ltd. to Address Opportunities and Corresponding Strategies for Dealing with REO Properties During Several Upcoming Workshops for Financial Institutions and Other Relevant Parties
Leading construction risk management firm La Jolla Pacific, Ltd. today announced several upcoming workshops on the topic of REO (real estate owned) properties and distressed assets.The workshops, spanning August - September, will bring together industry experts and focus on practical solutions for minimizing risk and maximizing asset value.The first is scheduled for August 5th and will be hosted by the California Bankers Association (CBA).Topics to be discussed include issues relating to the transition from lender to owner, proper asset due diligence, and legal liabilities.
“Banks, receivers, and investment firms are facing critical decisions regarding how best to handle REO properties and non-performing assets,” said Don Neff, CEO/President of La Jolla Pacific.“We are pleased to be able to work with other leading real estate experts and organizations to provide critically needed educational opportunities.”
La Jolla Pacific is collaborating with real estate law firm Cox, Castle & Nicholson LLP, sales/marketing solution provider CADO Real Estate Group, and London insurance broker Jansen & Hastings for solutions and content for upcoming events.“REO properties frequently contain design flaws, construction defects and other asset preservation and build-out challenges,” said Jeff Masters, a partner with Cox, Castle & Nicholson LLP.A critical but often overlooked part of the equation is the insurance component, including vacant property coverage (property and premises liability), builders risk, and wrap policies (including coverage for work already done).“The risks associated with assets now owned by banks, receivers, investment firms, and developers require insurance to make sure that the unique risks associated with these types of properties are covered,” said Paul Jansen, Chairman of Jansen & Hastings Intermediaries.
“The goal of these educational workshops is to help owners of REO properties assess what they have, make informed decisions, and fully manage the asset throughout the process,” Neff said.
About La Jolla Pacific, Ltd.
With an extensive background in direct construction experience, Irvine, Calif.-based La Jolla Pacific Ltd. is a leader in construction risk management, third-party peer review, sustainable building consulting, quality assurance, and forensic services.
For information, visit www.lajollapacificltd.com,www.coxcastle.com,http://www.cadorealestate.com,www.jansenandhastings.com or contact Cassie Cherry at (949) 336-8913.
Contacts:
La Jolla Pacific Ltd.
Cassie Cherry
Director
of Marketing & Media Relations
949-336-8913
ccherry@lajollapacificltd.com