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In a difficult market or
during trying economic
times, the standard
methods of recovering
from a challenged asset
or defaulting loan
generally yields less
than a favorable result.
The market may accept
such actions as outside
normal control; however,
how would the market
react if all investments
were recovered from your
projects? Such an effort
is not just an option;
it is service termed
Recovery to financial
investment firms, banks
and other equity and
debt entities for the
sole purpose of
assisting in recovery of
loan/equity proceeds and
activities to facilitate
this recovery.
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Within 18 months of
engagement, Ridge
recovered nearly all of
a $241 million potential
loss, improving and then
selling all remaining
assets collateralizing a
loan that was in
default. The project
included 2 million
square feet of condo,
hotel, retail, and
parking, and 5 land
parcels in downtown
Chicago. The assessed
net value at engagement
was $65 million.
Including the initial
fee, the client received
a profit from this
situation as a
replacement for a $200
million loss.
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