Debt recovery
A written-off loan, bought at a discount and worked out with the borrower.
The shape the recovery line takes when a lender has written a loan off.
Programs
Built for the scenario.
A program is the shape one of our lines takes for a single scenario, run on the same underwriting, audit, and asset management. Shapes, not offers.
- Debt recovery
- Property
- Communities
- Structured, not formed
The shape a line takes
A loan its holder has written off, a storefront available for less than it costs to build, a block worth keeping open: when a scenario repeats, one of our lines takes a shape for it, and that shape is a program.
Property
Leased, performing property held for the long run, under the asset management line.
The shape asset management takes when a storefront, clinic or workplace can be had below what it would cost to build, with the rent doing the work.
Communities
The storefronts, clinics, and workplaces a neighborhood leans on, held and kept open.
The two together on one block, where the loan on a place a neighborhood leans on is worked out rather than foreclosed and the building is kept in use.
Programs sit inside the five lines and are narrower than them. Each runs on the holding company’s own underwriting, in-house audit, risk assessment, and active asset management; none is a separate strategy, a vehicle, or a pitch for one. Every program on this page is structured, not formed, and not an offer; no loan has been bought and no property is held.
Three programs
Recovery
Debt recovery
A written-off loan, worked out with the borrower.
A loan its holder has written off, bought at a discount and worked out with the borrower, so both sides come out ahead.
Property
Property
A building kept up and held for the long run.
Leased, performing property held for the long run, with the rent doing the work and the holding company doing the upkeep.
Main street
Communities
The places a neighborhood leans on, kept open.
The storefronts, clinics, and workplaces a neighborhood leans on, held as performing property and, when a loan has gone bad, worked out rather than shut down.
How a program is run
Source
A loan a holder has written off, or a property available for less than it costs to build, found by the line that already understands the scenario.
Underwrite
Priced by our own underwriting, audit, and risk assessment before capital moves; a loan that cannot be worked out is not bought, whatever the discount.
Operate
The workout with the borrower, or the upkeep and leasing of the building, run day to day by the holding company and checked in-house, not assumed.
Audit
Performance is checked in-house by the holding company, not reported up by the platform.
Who each program would serve
Each program answers to a different counterparty, and what it says to each one is honest about what stage this is.
A lender or servicer holding a loan it has written off gets a buyer that works the loan out with the borrower rather than a collector that shuts the borrower down. The owner of a storefront, clinic or workplace gets a buyer that holds the building and keeps it up rather than one that flips it. A neighborhood gets the places it leans on kept open. In every case the file is ours end to end: sourced, priced, and run on the holding company’s own controls.
None of these is a live relationship yet; this is what each program is built to do once one exists.
A lender or servicer
A buyer for a written-off loan it would rather not work out itself.
A property owner
A buyer that holds and keeps up, not one that flips.
A neighborhood
Storefronts, clinics, and workplaces kept open.
What each program asks before it acts
Debt recovery
Can this loan be worked out?
Three tests, or the loan is not bought.
Whether the security behind it can be traced, whether a workout beats what a foreclosure would recover, and whether the borrower is still reachable; a loan that fails any of the three is not bought.
Property
Is it worth holding?
The price, the tenants and the rent all have to fit.
Whether the price sits below what the building would cost to build new, whether it leases to businesses the neighborhood already has room for, and whether the rent carries it without counting on appreciation.
Communities
Does the block stay open?
A workout that keeps the doors open.
Whether the loan on a place a neighborhood leans on can be worked out rather than foreclosed, and whether holding the building keeps the storefront, clinic or workplace in use.