MIAMI, FL— Miami-based Easton Lynd Management, the commercial property management division of The Lynd Company, has been tapped by Berkadia Commercial Mortgage LLC to manage a portion of its distressed property portfolio throughout the United States.
Berkadia, based out of Horsham, Pennsylvania, is a top-rated, special servicer of commercial real estate loans owned jointly by Warren Buffet’s (top right photo) holding company, Berkshire Hathaway Inc. and Leucadia National Corp.
Berkadia has a portfolio of $240 million, making it the third largest servicer in the United States. Easton Lynd has more than 30 years managing commercial properties with 9.7 million square feet currently under assignment nationwide.
Easton Lynd’s first assignment with Berkadia is a 44,000 square foot stand-alone retail building in Clearwater, Florida, that the loan servicer took back in January 2010. Circuit City had occupied the space prior to its filing bankruptcy and going out of business.
Zac Gruber, (middle left photo) regional vice president in charge of Easton Lynd said a property manager plays a vital role for a loan servicer when it comes to maximizing a property’s value.
“Timing is very important in distressed situations,” said Gruber. “As a manager, you have to act quickly and be able to identify any issues that are causing the property to lose money. You then have to analyze, prioritize and execute what needs to be done to turn the asset around. It takes a well-trained staff to make this happen.”
Easton Lynd Management, a division of San Antonio, Texas-based The Lynd Company, is one of the country's fastest growing and most advanced commercial real estate management companies.
For more information log on to http://www.thelyndco.com/.
Media Contact: Todd Templin, Boardroom Communications, 954-370-8999 or 954-290-0810, ttemplin@boardroompr.com
Easton Lynd LLC, Zac Gruber, Regional VP, 305-591-9727, zgruber@eastonlynd.com
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