Irvine, Calif. – (May 4, 2016) Resolution Capital Management, SA, a joint venture between Distressed Capital Management, LLC and Residential Mortgage Solution, LLC, is a child borne from the two California based asset managers. RCM is the next step for the two, as they bring their focus to the distressed residential non-performing loan markets in Central and Eastern Europe.
“We were excited when DCM approached us with this auspicious partnership. They saw value in my team’s long history and experience in valuing assets from the bottom up,” said Jack Getzelman, President of RMS. “Fusing RMS’s command on valuations and M3 technology on one hand, and DCM’s deep understanding of securitization and foreclosure on the other, gives RCM the muscles to take on the Central and Eastern European market.”
The decision to start its operations in Poland was made back in March 2015, after more than a year of research and due diligence by DCM for the best country to enter into in 2016. The research focused on three main driving points: foreclosure timelines, the value of the assets, and ‘time to sale’ statistics. The results surprisingly placed Poland at the top, with Romania and Hungary following as close seconds. While the rest of the players followed the obvious plays in Italy, because of its 10 year backlogs, RCM skipped over the herds that were stuck in Spain and Italy and became the first to access the Polish market a year before anyone else.
“Our initiative was to understand not what the market is today, but what it would be two years from now,” says Matthew Browndorf, Chief Investment Officer, “expending our resources to do independent research unearthed maiden territory. It is now proving its worth as we are currently closing our first two trades of the year.”
Last week, RCM secured its lease for its offices in Wroclaw, Poland and made some aggressive executive hirings to manage its operations across the Atlantic.
Distressed Capital Management, LLC
Distressed Capital Management, LLC (“DCM”) is an emerging asset manager focused on real estate development, securitization and performing and nonperforming commercial and residential real estate loans (“NPLs”). DCM boasts top talent with a management team responsible for over $30b USD in securitizations and best exemplifies the vertical integration of Plutos Sama’s holdings in its cross-utilization of services with Wilson Keadjian Browndorf, LLP and BP Fisher Law Group, LLP. For more information please visit http://www.distressedcapital.com/
Residential Mortgage Solution, LLC
Residential Mortgage Solution, LLC is an asset manager that offers a turn-key solution for Servicer Surveillance to oversee and manage sub and non-performing residential mortgage assets. They also provide REO Asset Management services to ensure that REO portfolio owners receive timely, decision-quality analysis for effective liquidation strategies in real time.
RMS’ skilled oversight team is enabled by its revolutionary, web-based search and analysis engine called Mortgage Market Management, or M3. RMS utilizes its sizable advantage with M3 to mitigate loss, enhance loan portfolio performance and protect the value of its customers REO portfolio. For more information please visit http://www.residentialms.com/