The Real Deal Miami

Boca management group aims at distressed properties

December 19, 2008 11:19AM

In response to deterioration and plunging values among foreclosed
properties, Portfolio Property Management Global will set up a division
to serve banks and other lenders with distressed, foreclosed and real
estate-owned properties. Marsha Bass, president of PPM Global, said the
company will offer its usual slate of property due diligence and
analysis services, along with handling deferred maintenance issues that
can cause value and tenant rolls to slip. She believes the need for the
added service will increase in 2009, with real estate value losses
estimated to grow into the hundreds of billions of dollars. Established
in 2005, PPM Global manages 3.4 million square feet of commercial real
estate valued at $4.3 billion in Florida and six other states.