Providing Asset Management and Advisory Services to TIC Owners

Bridger Asset Management LLC ("BAM"), a division of Bridger Commercial Funding, to date has been retained as an asset management and special situation management specialist by a number of TIC investor groups. BAM staff are specialists in managing disruptions like those that TIC investors face because of a Sponsor's bankruptcy or financial or other difficulty.

BAM provides asset management and advisory services during the transition period and following. The terms of our engagement are flexible to meet TIC owners' varying requirements. For further information on our experience and ability to assist you, please contact:

Paul O'Rear, Senior Vice President
415-289-3239
porear@bridgerfunding.com
or
Peter Grabell, Executive Vice President
760-230-1387
pgrabell@bridgerfunding.com

The Asset Manager's Role

DBSI TIC investors engage an Asset Manager to provide comprehensive oversight of their property investment. Bridger's responsibilities as Asset Manager include:

  1. Identify the tenants-in-common group, establish a structure for disseminating information, conduct periodic telephonic meetings to update the group, recommend courses of action, and coordinate group decision-making.
  2. Monitor the status of mortgage loan payments to the loan servicer and assess the balances of escrow accounts held by the loan servicer.
  3. Monitor the payment status of property tax and insurance obligations.
  4. Review organizational documentation to establish the rights and obligations of the parties to the transaction.
  5. Review mortgage documentation to assess investor options.
  6. Monitor the status of the sponsor, evaluate and make recommendations to the group on addressing sponsor-related risks.
  7. Negotiate on behalf of the group with the mortgage holder and its loan servicing representatives to gain forbearance for possible loan defaults or delinquency.
  8. Conduct or coordinate a comprehensive physical inspection of the property and provide an assessment of tenancies, property condition and the market.
  9. Determine the rental collection status at the property and assess actual operating performance of the property.
  10. Advise in the selection of legal counsel experienced with TIC transactions, provide counsel with direction and monitor their work.
  11. Take appropriate steps to appoint a receiver at the property if needed, or otherwise trap all cash generated.
  12. Advise in the selection and approval process for replacement property managers.
  13. Direct and monitor the actions of the replacement property manager.
  14. Examine or arrange for expert advice on potential tax implications of specific proposed actions of group investors.
  15. Develop capital plans to support the investment including the funding of tenant improvements, leasing commissions and property maintenance.
  16. Provide or arrange for expert advice of any necessary “forensic accounting” to analyze historic cash flows.

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