Over the past 18 months CPM Real Estate Services has been working closely with banks and other lending institutions on properties that are in serious default or have been foreclosed on. Each of these cases is unique and every property produces new, unchartered situations for CPM to tackle. If there are tenants at the property they are often frustrated and concerned. As commercial tenants their entire livelihood is often tied to their leased premises. Typically the property has been neglected, tenant issues have not been addressed and lease terms have been broken.
As the management company we work towards resolving open issues and attempt to establish some stability for the tenant(s). However, being a third-party company coming into such a precarious situation is often challenging – trust is typically not a luxury during the initial stages of these relationships. In working with commercial tenants we are sensitive to their needs while still enforcing the lease terms and working within the guidelines set by the Lender. This balancing act is tenuous. Our first priority is to identify the Lender’s goals and execute a strategy to accomplish them. Ultimately, our objective is to turn this negative situation into a more positive experience for all involved parties.
Whether we are working with banks, investment groups, or private owners, the priority is the same – protect the investment. CPM coordinates maintenance and repair issues, facilitates harmonious relationships with tenants, enforces lease terms, and assesses and prepares for the future needs of the property. If you have questions about commercial leasing, management, or sales please contact the Commercial Division Manager, Jayme Palodichuk 541-842-2418.