Lavista Associates, Inc. has been assigned 26 new commercial REO properties from Atlanta-based Community and Southern Bank. They represent multiple asset classifications and are located throughout North Georgia. The firm is engaged to manage, lease and market for sale the portfolio which is expected to grow in 2012.
Don Perry, CEO of Lavista, said the firm’s service offerings and commercial experience in this arena proved beneficial in his firms’ selection. “Having assisted other loss share banks with their commercial properties, we understand the process and have tailored a delivery model well-suited for this type of engagement.”
The firm has assembled a large team of associates to work on the management, accounting, reporting and marketing requirements. “Having experts in each of these disciplines brings value to our customers,” added Perry.
Lavista disposed of 75 commercial properties in 2011 for over 10 lenders, including office, office condominium, warehouse, retail, specialty retail and mixed-use. The lenders included community and regional banks, national banking institutions and several life insurance companies.