The commercial real estate industry faced unprecedented headwinds in 2009 amidst frozen capital markets and a global economic crisis second only to the Great Depression. Yet in the middle of the economic tumult and industry shakeup, NAI Global reports significant advancements were made in this historic year.
“NAI Global continued to grow, innovate and implement new programs and services to help our clients navigate today’s challenging market conditions,” said Jeffrey M. Finn, NAI Global President & CEO. “We begin the New Year larger, stronger and better positioned than we were at the start of 2009. We are proud of our achievement in this very difficult operating environment.”
Among NAI Global’s 2009 highlights:
- NAI Global won significant assignments and preferred provider relationships with two of North America’s largest financial institutions for disposition of their REO portfolios.
- NAI Global was the top mover in the 2009 Watkins Research Corporate Real Estate Services Survey. NAI ranked #1 among networks and #3 overall based on performance. Conducted every two years by the Watkins Research Group, the survey polled 200+ respondents in a ranking of commercial real estate service providers on delivery of results, adaptability of services, rationality of pricing, reputation and financial strength.
- NAI Global and its member firms received new corporate services assignments and expanded existing relationships with Amway, Albany International, Colgate-Palmolive, DuPont, GTECH, Invensys, LG, Mattel, McDonald’s, Progressive Insurance, Wal-Mart, State of Pennsylvania Liquor Control Board and the US Postal Service.
- Anticipating financial institutions’ need to dispose of commercial real estate assets quickly and efficiently, NAI Global pioneered the online commercial real estate auction and sealed bid marketplace with its Commercial Property PowerSale™ platform and held three Commercial Property PowerSale™ events.
- NAI Global completed its first loan sale, a portfolio representing $120 million in unpaid principal balance, and structured strategic alliances to service this important need in the industry.
- NAI Global concentrated its resources in loan sales, asset management, receivership, valuation and REO to create the new Special Assets Solution Group in the U.S. and the European Valuation Group in Europe. Both groups provide a comprehensive service offering to banks, financial institutions, special servicers and other holders of distressed assets in the wake of the financial markets crisis.
- Broadening the brand’s global reach, NAI upgraded major market members in Moscow, Korea, Tokyo and Toronto, while adding 20 new member firms across the network.
- NAI member firms NAI Robert Lynn of Dallas, TX, and NAI DESCO of St. Louis, MO, combined to represent Sherwin-Williams in one of the largest industrial leases of 2009, a 1.22 million-square-foot distribution center in Effingham, IL.
- NAI Global improved its market position, visibility and stature in its owned offices in Las Vegas and New York City while closing significant transactions.
- Building its expertise, NAI Global added strength and depth to its management team and promoted several key staff members, including Edward Finn as Chief Operating Officer. NAI also added new talent with the addition of Paul Waters, FRICS, CRE, CCIM, SIOR to lead U.S.-originated corporate business development and Prashant Salvi as Regional Director for India.
- NAI created the Gerald C. Finn Lifetime Achievement Award in honor of the company’s founder and chairman, and named Peter O. Hanson, SIOR as the first recipient.
Issued by NAI Global www.naiglobal.com / Published to the Site www.naibaltics.com by NAI Baltics – commercial real estate services in Latvia, Lithuania, Estonia. Your trustworthy partner, advisor and consultant in the Baltics and Worldwide. http://www.naibaltics.com