ATLANTA, Dec. 26, 2014 /PRNewswire/ -- After almost five years of operation, the Metro Brokers Bank Asset Team has sold its 4,000th property. The Bank Asset Team is a special division of Metro Brokers that handles assets and consulting for banks, lenders, asset managers, equity funds, investment firms and government institutions.
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The 4,000th listing sold by the Metro Brokers Bank Asset Team was located on South Atlanta Street in Roswell, Ga. This commercial listing – which sold for $1,417,500 – is 8.7 acres of vacant land. The selling agent for the property was Brad Harper of Metro Brokers' Corporate office located in Atlanta.
Since its inception in February 2010, the Bank Asset Team has managed more than 5,000 properties in a variety of categories: Land, retail, homes, apartments, lots, subdivisions, office space and more. In addition to providing marketing services such as listing and selling, the Bank Asset Team also offers valuation, preservation, property management, HOA, vendor management and more services through a single point of contact.
"A variety of institutions are continuing to move towards using asset management companies like the Metro Brokers Bank Asset Team that allow them to take a hands off approach," said President and CEO Kevin Levent. "This has reduced their personnel expense and liability by transferring the workload to our company. We are more efficient and effective at disposing of assets, which allows them to concentrate on what they do best: Investing."
The Bank Asset Team started out with servicing other real estate owned (OREO) assets from FDIC Loss Share institutions, but soon expanded to handle legacy and non-Loss Share assets as well as providing consulting services. Currently, the division handles assets from more than 20 banks, lenders, government institutions and investment firms. While the program began in Georgia, it has since spread nationally with properties focused in the southeast: Virginia, North Carolina, South Carolina, Tennessee, Alabama, Mississippi and Florida.
"Our client engagement model is unique for two reasons," said Joel Strimban, Senior VP of the Bank Asset Team. "1) It's a totally integrated model with full-time, dedicated subject matter experts in key areas, and 2) the program is custom designed and optimized to fit each institution's goals and objectives. Our clients, consisting of some of the largest regional banks and investment firms in the southeast, have been very pleased with our performance."
Metro Brokers – consisting of two brands: Better Homes and Gardens Real Estate Metro Brokers and Coldwell Banker Commercial Metro Brokers – has a specialized Bank Asset Team to handle assets for banks, lenders, asset managers, and equity funds. The company has managed over $1 billion in assets and processes approximately $50,000,000 in new assets each month.
Metro Brokers is currently the largest real estate company in Georgia – and a top 40 real estate brokerage nationally – with more than 1,800 agents and 9,000 units in annual sales.
For more information, visit www.metrobrokersforeclosures.com or call 770.390.8111.
CONTACT:
Tyler Brenner
404.257.2381
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SOURCE Metro Brokers
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