Liquidation Trustee Services, LLC to Serve as Trustee of New York City Area Real Estate Assets

BOSTON--(BUSINESS WIRE)-- Liquidation Trustee Services, LLC (“LTS”), a unit of Hilco Real Estate, LLC, has been appointed Trustee to coordinate and execute the orderly disposition of a portfolio of 61 mortgage and real estate-related assets located in Brooklyn, Queens and Long Island, New York, and held in trust for the benefit of Textron Financial Corporation, the lender to the originator of the portfolio. LTS, in concert with Hilco Managed Asset Resolutions, LLC, also a unit of Hilco Real Estate, will be responsible for maximizing the value recovered on the portfolio.

LTS Vice President, Michael Tsandilas, and Ben Spera, Managing Director of Hilco Managed Asset Resolutions, LLC, will coordinate the day to day activities of the engagement. Current plans call for a coordinated program of loan restructurings, foreclosure actions, workout negotiations and asset disposition sale processes.

Neil Aaronson, CEO of Hilco Real Estate, commented, “Our platform of services is ideal for situations involving distressed asset workouts, loan restructuring and expedited real estate asset liquidations. We have a long history of deploying our resources to aggressively maximize value for our clients.”

Ron Lubin, President of Liquidation Trustee Services, LLC said, “Dealing with troubled assets is in our DNA. Our team has a long track record of successfully resolving problem loans and maximizing asset value through disposition. We are very pleased to have been selected by Textron Financial Corporation to help reduce costs and maximize value.”

Barbara Gaulien, Vice President of Risk Management for Textron Financial Corporation, said, “We looked to Liquidation Trustee Services, LLC and Hilco because of their real estate-related disposition capabilities, particularly in bankruptcy scenarios. Their knowledge of the process and seasoned staff gives us great comfort that we will return the best possible result on this portfolio.”

About Hilco Real Estate

Hilco Real Estate, LLC, [www.hilcorealestate.com] helps businesses improve leverage and cash flow by repositioning and restructuring their real estate commitments. The company’s focus is on optimizing value in the shortest period of time. Core competencies include strategic advisory and consulting services, owned portfolio disposition, lease portfolio sales/assignments, lease termination, lease renegotiation, leasing/subleasing, sale of non-core owned assets, sale/leaseback transactions, and fee and appraisals for leased and owned assets. Based in Northbrook, IL (Chicago), Hilco Real Estate is a unit of Hilco Trading, LLC, [www.hilcotrading.com] a world leader in valuation, monetization and advisory services involving all classes of tangible and intangible assets.

Hilco Liquidation Trustee Services, LLCRon Lubin, President
[email protected]
617-451-5041

Source: Hilco Real Estate