DALLAS, Dec. 9, 2010 /PRNewswire-FirstCall/ -- GearingStone, LLC (GS), a Dallas-based commercial special servicing company announced it has established a preferred provider relationship with Grubb & Ellis Company (NYSE: GBE) one of the country's largest commercial real estate services firms.
As a preferred provider, GearingStone will engage Grubb & Ellis, which offers a fully integrated scope of services to financial institutions managing distressed assets, to provide leasing and disposition, BOVs, consulting, property management, project management, valuation and other services.
"We are excited to expand our service offering to include the Grubb & Ellis professional network and proprietary research," said Alan Gearing, President of GearingStone. "Grubb & Ellis' services are 100% complementary to GS' special servicing platform and human capital network spawned from our related FDIC receivership work. Together, we can provide clients with a fully integrated scope of services for distressed asset management that covers the entire United States. We feel that this is the most dynamic management solution for small- to mid-sized balance commercial assets that exists in the marketplace today."
Gearing added that the relationship will serve as yet another business model differentiator and competitive advantage for GearingStone and enables GearingStone to effectively manage small- to mid-sized balance commercial loans and OREO on a national scale. "By tapping into Grubb & Ellis' service offerings, we are able to provide a unique mix of workout/resolution expertise coupled with strong real estate valuation and management capabilities," he said.
GearingStone's relationship manager at Grubb & Ellis is Scot Farber, Executive Vice President, Investment Services.
"We are thrilled that GearingStone has selected Grubb & Ellis as a preferred provider. Our Financial Services Asset Management practice, which utilizes Grubb & Ellis' national platform to provide banks and special services throughout the United States integrated receivership, property management, valuation, note sales and transaction services, uniquely positions us in the marketplace and is consistent with GearingStone's desire to offer comprehensive services to its clients. We believe that working together we can maximize the value of real estate owned assets."
As part of the relationship, both GearingStone and Grubb & Ellis have agreed to introduce each other to their respective clients and in certain instances engage in joint marketing of their services.
GearingStone is a Dallas-based special servicing company specializing in small to-mid sized balance commercial real estate and commercial & industrial loans across the United States. The firm's specialized business model and deep rooted experience with resolving failed bank assets has positioned the platform for significant growth in the current cycle.
For more information: http://www.gearingstone.com
About Grubb & Ellis Company
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds.
For more information visit http://www.grubb-ellis.com
SOURCE GearingStone; Grubb & Ellis Company