Hilco Advises Adoption of Crisis Tested, Three-Pronged Focus for Bank OREO Departments During Current Period of Extraordinary Economic Volatility

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Apr 08, 2020, 15:28 ET

NORTHBROOK, Ill., April 8, 2020 /PRNewswire/ -- Hilco Global has issued a timely perspective specific to OREO asset managers and their teams nationwide, to assist in productively guiding their early and ongoing actions through the very challenging economic upheaval associated with the COVID-19 pandemic.

Titled, "Lessons Learned By a Bank OREO Asset Manager During the Great Recession," and authored by David Gottlieb, managing director at Hilco Real Estate, the perspective delivers an insider's take on how past cyclical volatilities in our economy have provided highly relevant lessons that can and should be leveraged to ensure successful outcomes for banks in the weeks, months and even years ahead.

Referencing actions - both taken and not taken - by OREO asset managers during the financial crisis of 2008 and the ensuing Great Recession as a benchmark for how to effectively navigate numerous real estate challenges stemming from the current pandemic, Gottlieb's perspective advocates adherence to three key principles: proactivity, realism and preparedness.

"The tendency during this time will be for OREO departments to underestimate the amount of time it will take to work through their portfolios once the recovery from this crisis begins," says Gottlieb. "A short-term crisis doesn't necessarily equate to a short-term recovery in real estate, particularly when you factor in what the full portfolio may look like some months down the road."

To obtain a copy of the perspective or schedule an interview with David Gottlieb, contact Gary Epstein- Chief Marketing Officer, Hilco Global at [email protected].

About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and then monetize that value. Hilco Global has a 30-year track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 600 professionals operating on five continents.

About Hilco Real Estate: Hilco Real Estate (www.hilcorealestate.com), a Hilco Global company, is a national provider of strategic real estate disposition services. Acting as an agent or principal, Hilco Real Estate uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, Hilco Real Estate exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate