Contact

Paul O'Rear, Senior Vice President, at (415) 289-3239 or porear@bridgerfunding.com

Asset Management Strategy and Services:

Bridger Asset Management (BAM) provides transitional and ongoing asset management for investment property owners, and specializes in turnaround situations and tenant-in-common ownership. We fulfill a mission-critical role in protecting your property investment following a significant impairment event that disrupts income generation and that threatens property valuation, such as sponsor or general partner insolvency, manager non-performance, lease abrogation, loan acceleration, or other emergency situation.

BAM's top priority is to protect your property from the effects of a detrimental event. Once we re-stabilize your property, we then shift to a traditional role, executing a long-term asset management plan to enhance investor value.

The Bridger commitment is straightforward: we are accountable, accessible, and affordable.

The principal elements of our asset management strategy are:

1. Define and clarify the critical issues. We will address them immediately and comprehensively, prioritizing actions to take to ensure property stability;
2. Communicate regularly, clearly presenting the issues faced by the property owners;
3. Develop resolutions that, to the extent possible, best protect and preserve the owner's investment; and
4. Implement appropriate actions.

Bridger's asset management group provides owners with comprehensive oversight of all property elements through:

Situation Assessment

• Review operating statements and rent rolls to determine where revenue should be enhanced and where expenses can be pruned.
• Confirm the status of loan payments, escrows and reserves with the Lender. Confirm the status of property tax payments and casualty insurance policies and premiums.
• Review organizational and mortgage documentation to establish the rights and obligations of the parties.
• Assess the status of rental payments at the property and work to capture the flow of funds.

Situation Management

• Coordinate the investor group and provide a structure for communication, decision-making and strategy implementation within the group
• Disseminate information, chair conference calls to update investors and provide a secure website where property, loan and legal information can be obtained, and questions posed.
• Aggressively negotiate with the lender for forbearance for any loan defaults and modifications to loan covenants.
• Advise in the selection of legal counsel, provide direction and monitor their work, focusing on expense control.
• Provide valuation opinions and analysis of current rental rate trends, vacancy rates, cap rates and absorption rates.

Property Management

• Conduct a comprehensive physical inspection of the property and provide an assessment of tenancies, property condition and the market.
• Evaluate and where needed modify rent collection procedures to ensure the security and control of payments.
• Evaluate the performance of the current property manager and if a replacement is necessary, interview candidates and present recommendations to investors.
• Review, negotiate and monitor operating and capital expense budgets.
• Recommend the most advantageous structures for long-term investor value enhancement, including negotiating refinancing or ultimate sale of the property.

Tenant Lease Administration

• Advise on leasing agents to negotiate new leases and renewals for the investor group. Review leasing proposals and negotiate terms.
• Develop leasing strategies to address above average vacancies due to market or property weaknesses.
• Budget for TI and LC reserves to minimize cash flow peaks and valleys.
• Coordinate the release of reserve funds from lenders, when available

Financial Reporting

• Provide timely, accurate financing accounts and meaningful status reports
• Engage tax advisors, as needed, to avoid pitfalls that might jeopardize the tax-deferred status of 1031 investors

Business Profile:

• Founded in 1998 as a Commercial Real Estate Loan Originator and Asset Management Advisor
• Private company with majority ownership held by Management Principals; minority ownership by Bank of America and JMP Capital
• Active client relationships with over 2,500 commercial banks and 15 real estate investment groups
• Currently providing asset management services on 12 TIC properties groups totaling 1,016,285 SF and valued at over $100 million.
• Over the past 10 years, commercial mortgage origination of 1,080 loans totaling $5 billion, and representing over 28,000,000 SF of office, industrial and retail space and more than 140,000 multifamily units.

Geographic Coverage:

• National presence with six regional offices located in California, Illinois, New Jersey, Texas, and Washington DC
• Nationwide network of over 75 third-party service providers supporting valuation, title, tax, due diligence, property management, appraisal, engineering, environmental and leasing activities

Commercial Real Estate Expertise - Senior Staff with average experience of over 20 years each in the areas of:

• Asset Management
• Commercial Loan Origination and Underwriting
• Commercial Loan Servicing
• Loan Sale Advisory and Auction
• Loan Syndications
• Loan Workouts
• Property Sales & Acquisitions
• Property Management
• Property Leasing
• Investor Due Diligence

Access to Capital Markets

• Correspondent relationships with nine national or regional lending platforms offering permanent commercial real estate loans on office, retail, multifamily, hotel and industrial properties.
• Loan origination access to over 150 registered commercial banks nationwide
• Leading direct lender in the secondary market through commercial mortgage-backed securitization
• Established balance sheet mezzanine lender

Investor Reporting / Systems

• Web-based project management reporting to investors using Bridger Basecamp platform
• Real Time Capital Markets Reporting at www.bridgerfunding.com
• Property Management Report interface with third-party property management firms
• Controlled accounting and cash receipt / disbursement program utilizing Microsoft Navision enterprise accounting system. Accounting system enables for segregated accounting of multiple properties, tenants and investors.