Special Assets

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Overview

The Special Assets group at Besen & Associates provides a comprehensive range of business lines related to the valuation, restructuring, and disposition of small balance loans, including all types of real estate instruments from lender workout through bankruptcy resolutions. Our advisory services are tailored to execute the optimal exit strategy for the holder of the special assets. We provide comprehensive advisory services and transactional experience on behalf of private, corporate and institutional lenders and investors.

Representative Services

Structured and Non-Structured individual and portfolio loan sales
Property and Portfolio Valuation Relative to Workout vs. Foreclosure Strategies
Performing, Sub and Non-Performing Loan and Loan Portfolio Sales
Recovery Maximization Advisory
Tri-Party Short Sale Executions
Structured Joint Venture and A/B Loan Portfolio Sales
UCC Foreclosure Sales
Bankruptcy Related Valuation and Recapitalization
Financing Strategies for REO & Loan Acquisitions
Combined Property Level and Loan Level Valuation Strategies

The Special Assets group provides mortgage loan sale advisory services for individual and portfolio loan trades in the secondary market with assets located throughout the New York metropolitan area. Our targeted marketing process is designed for optimum precision and results, including overseeing of the valuation, underwriting and placement of the assets. The principals of the group have been responsible for over $1 billion in loan sales and related advisory assignments. Dispositions of whole loan and REO properties are completed through both structured and non-structured sale transactions.

Asset Types

We represent leading community, regional and national lenders as well as private equity and hedge funds in the sale of:

Performing loans
Credit-impaired performing loans
Sub-performing loans
Non-performing loans
“Kick-out” loans
Real estate owned (REO)

Small balance commercial (SBC) loans are an underserved niche and our core competency. Small loans ($750,000 on average) are originated by banks with $100 million to $10 billion assets under management and secured by all asset types with full recourse to the borrower.

Besen & Associates has been active in the disposition of non-performing loans and REO assets since the late 1980’s, when the firm was hired by the Resolution Trust Corporation (RTC), and it was one of a select group of commercial brokers/loan sale advisors exclusively representing Freddie Mac in the sale of hundreds of distressed assets.

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Executive Management

Executive Managing Director

Phone:

732 933-2735 Direct

917 686-7153 Cell

Email:

jhorn@besenassociates.com

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Jonathan B. Horn serves as Executive Managing Director of Special Assets at Besen & Associates. He has over 14 years of commercial real estate finance experience and has been involved in an excess of $1 billion of total transaction volume. His advisory and transactional experience encompasses all asset types across all performance classes including: commercial and residential mortgage loan sales and advisory, structured finance advisory, REO & investment sales, bridge debt placement and JV equity raises. He has been retained to represent community, regional, and national financial institutions in the disposition of assets throughout the Northeast.

As head of the group, Jonathan oversees the advisory team and is directly responsible for new business development and marketing. He has opened the New Jersey office for Besen & Associates and will oversee day-to day operations there. He supervises all steps in the transaction process including origination, underwriting, due diligence, marketing, and execution. In his role, Jonathan is focused on developing and maintaining client relationships among private, corporate, and institutional investors.

Prior to joining Besen & Associates, Jonathan founded Helios Capital Advisors where he served as Senior Managing Director and was directly responsible for executing the firm's trades which exceeded over $500 million. Jonathan was previously the Senior Managing Director at a private equity firm in New York, where his group was responsible for the firm's U.S. investments focusing primarily on the acquisition of large pools of performing residential whole loans. He began his real estate career as Director of Investment Sales with Murray Hill Properties in New York. Jonathan holds a Bachelor of Arts in Political Science from New York University.