Receivership

Capital Asset Management Company, in addition to its hotel management services, provides receivership services.
Capital Asset Management Company based in San Diego County has expertise in the management of hotels in transitional and distressed circumstances and has extensive experience being appointed receiver. With our expertise we are able to provide efficient and cost effective Receivership Services for lenders that are preparing to foreclose and sell a property. Lenders obtain the following complete receivership services with our Southern California based Capital Asset Management Company:

Capital Asset Management Company Receiver Services at the Property

As receiver, Capital Asset Hotels and Resorts management appears at hotel with order to take immediate possession of all real and personal assets. These assets include securing cash on property and seizing all accounts. Capital Asset Management Company will provide a detailed inventory and provide the courts with this information. Importantly, The Capital Asset Management Company stabilizes the employees for efficient takeover and continued service. Additionally, The Capital Asset Management Company sends notification of receivership status to franchiser, all vendors, lessees, and other interested parties. Utilizing our management know-how and our company’s flexible structure, we are able to take over operation of the property. Capital Asset Management Company makes sure that our team is present at the hotel at the time of takeover to become familiar with its operations and implement the necessary changes. The appropriate background checks are performed on all employees.

Capital Asset Management Company Post-Takeover Services

The Capital Asset Groups management team understands that the asset's financial welfare depends on sound operations. As receiver, The Capital Asset  Groups ongoing duties include but are not limited to: protecting the franchise, dealing with any outstanding state and local sales and occupancy taxes, property tax, handing any pre-takeover lawsuits, claims, or outstanding insurance matters, obtaining control of any deposits from utilities and/or governmental entities, and managing pre-takeover vendors and lease-holders. We also make sure that the assets of the property, both physical and monetary are protected and accounted for. Financial and accounting work for the property is done by experienced staff in our offices. The accounting system that Capital Asset Hotel Management utilizes permits our clients to view financial data over the internet using a web browser, allowing the interested parties to stay up to date with the business of their asset. Additional reports are prepared and submitted as necessary.

Capital Asset Management Company Reporting

The Capital Asset Management Company as receiver will prepare a monthly receiver's report as directed by the court and issues a final accounting to the court after foreclosure

Why prefer Capital Asset Management when you think of Hospitality Company?

Capital Asset Hotel Management is able to efficiently develop and execute the necessary hotel business plans that increase the efficiency and appearance of a hotel. This helps the selected hotel broker show the hotel in the best possible light to prospective buyers. We work hard to help effectively dispose of the hotel asset.

Receivership Services generally cost no more than regular management services for other hotels managed by our southern California Hospitality Company. The exception is when extra court appearances are required or when borrowers challenge the Receiver entity on some matter. In that case reasonable hourly rates are charged. We give the idea of all the related concerns in advance.  

Our responsibility as the appointed receiver is to find the best management solution for each asset in order to maximize its financial performance.  Our receivership services include a detailed ‘Takeover Report’, which provides vital information about the asset, as well as timely, accurate, detailed accounting and reporting.

 

Receiverships and Asset Management is one of the primary services offered by Capital Asset Management Hospitality Company. We recognize our principle receivership responsibility is to protect, preserve and maintain the asset as well as those specific responsibilities as contained in the order appointing receiver. With the receivership services our Hotel Management Company will take care of following:

 

  • Third party independent control as a fiduciary of the court
  • Possession and preservation of the asset for completion of receivership
  • Supervision and direction of daily "on-going" activities of the property
  • Full review of all contractual services about our hospitality services
  • Bidding and awarding of service contracts and independent outside services
  • Full accounting of all income and expenses
  • Authorization, control and payment of payables
  • Understanding of institutional requirements, policies and goals for the receivership
  • Specific recommendations for extraordinary maintenance requirements
  • Proactive management to establish the confidence of tenants and others
  • Reports tailored to the needs of the court and secured creditors for receivership
  • Full cooperation after the receivership period to continue stabilization of any tenant base and property operations

Our Receivership Services include:

  • Consulting
  • Seizure of Assets
  • Court Reports
  • Contracts & Leases

Consulting

Working with the lender's asset manager prior to legal filings, we review the property to provide the information needed to make informed decisions. This review takes the form of a Property and Financial Assessment that identifies the operational status of the property, its potential value and the risks associated with asset.

To assist asset managers our San Diego based hospitality company performs the following consulting services:

  • Valuations: partner with Real Estate Broker to determine potential recovery
  • Property & Financial Assessments; make a hands-on assessment of operations, its competitors, location, and profit and loss statements.

Seizure of Assets


A vital initial part of maximizing recovery is to know where to look for hidden assets, how to go about obtaining them, and getting the banks to provide the information. Capital Asset hotel Management Company has a great deal of expertise in locating and seizing all assets of the receivership/bankruptcy estate, including taking possession of and accounting for all:

  • Bank Accounts
  • Cash Banks
  • Petty Cash

After seizure of assets, we conduct full and accurate auditing of accounts receivable and accounts payable to determine the true financial assets and liabilities.

Court Reports      

                                                                      
Capital Asset Management Company assist the lender's legal counsel to prepare the Order Appointing Receiver to ensure that all issues and contingencies are addressed to minimize additional filings. Our Hospitality Group prepares and files all Receivers’ documents including opening, interim and closing reports. We also handle the negotiation and/or termination of contracts required, and works to quickly wind up and seek court approval and discharge of the receivership upon foreclosure or re-conveyance.

To maximize recovery, Capital Asset Management Group’s Receivership services/Trustee Team assures the performance of the following actions:

  • Assisting counsel in preparing the ‘Order Appointing Receiver’ to assure the court addresses all contingencies in the first hearing, and to avoid repeated trips to court.
  • Preparing and filing all Receivers documents and serving all appropriate parties.  These include opening, interim, and closing reports.
  • Contract renegotiation or termination, as appropriate
  • Upon foreclosure, quickly winding up the receivership, preparing the final accounting, transferring licenses and franchises to the new owner, preparing and filing final reports, and securing the courts approval and discharge.
  • All court-required operational bankruptcy reports are prepared by Capital Asset Management Hospitality Group’s Management and Accounting teams.

Contracts and Leases


The terms of contracts and leases can have a major impact on the value and recovery of the assets.  Challenges with contracts and leases, or the need to quickly renegotiate terms, require expertise.  Capital Asset Management Hospitality Group excels in this arena. Property leases and contracts have a profound impact on value of the asset and risks. Our Hotel Management Company reviews every lease and contract affecting the asset and either accept, reject or renegotiate the agreements in order to preserve value and mitigate risk for you.

Capital Asset Management Hospitality Group’s Receivership Team is highly experienced in dealing with these issues.  We handle these potentially complex business matters to make certain every detail is covered including:

  • Reviewing of insurance policies and coverage’s
  • Reviewing, renegotiating, and accepting or rejecting equipment, ground and rental agreements, as each case dictates.
  • Handling all vendor contracts, whether they need to be notified, reviewed, renegotiated, and accepted or rejected.

By offering a combination of Receivership, Management and Disposition Services, Capital Asset Management Hospitality Group can get more business done efficiently with fewer errors, thereby saving, time, money and reducing risk.  As well as help to protect the lender from liability.

From the issuance of the order appointing receiver to the final accounting and termination of the receivership, experience and knowledge of aspects of receivership administration gives us the ability to successfully administer receivership cases. For more information about these services, please Contact Us.

Our Services include Single Asset/Portfolio Due Diligence, Transaction Support, Investment Analysis, Market Study Coordination, Highest and Best Use Analysis, Brand/Operator Contract Review, Assumable Financing Review, Post-Acquisition Strategy, Asset Manager Selection, Exit Strategy and Oversight.

 

Our restructuring and repositioning services include Strategic Crisis Advice, Foreclosure/Bankruptcy Strategy, Brand/Operator Renegotiation, Investment Preservation Analysis, Financing/Equity Partner Negotiation, Securitized/Whole Loan Review, Mezzanine/Partnership Secured Debt Review, Post-Acquisition/REO Strategy.

 

The transaction structuring services offered by our Southern California based Capital Asset Hospitality Management Group include Brand/Operator Identification, Management Agreement Negotiation, License Agreement Negotiation, Technical Services Agreement Negotiation, Third Party Lessee/Operator Identification, Third Party Contract Negotiation, Third Party Coexistence, Third Party Services Agreement Negotiation.

 

Under the predevelopment phase of project execution services Capital Asset Management Hotel and Hospitality Company offers services such as Budget Creation & Management, Consultant Selection & Contract Negotiation, Contractor Selection & Contract Negotiation, Site Analysis & Investigation, Site Planning & Facilities Programming, Entitlement/Permitting Process Management, Architectural Design Process Management, Interior Design Process Management, Bid Review & Analysis, OCIP/CCIP Analysis & Negotiation.

 

In the construction phase of your real estate get services from Capital Asset Management Hospitality Company in the easiest way according to your budget preferences. We offer Construction Oversight, Quality Control Management, Project Cost Control & Reporting, Draw Request/Capital Call Preparation, Partner/Lender Reporting, Consultant Oversight & Contract Administration, Schedule Development & Management, Residential Sales Center, Model Unit Coordination, Model Room Coordination, FF&E & OS&E Management, Pre-Opening Coordination, Residential Finish-out, Owner Upgrade Coordination, Turnover Management services.

 

Please Contact Us for more information.

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