Diversified Realty Advisors Announces Strategic Alliance with J.H. Cohn
12/17/2009
Diversified Realty Advisors, the banking industry’s one-stop real estate advisory group, today announced that it has entered into a strategic alliance with J.H. Cohn, one of the top 15 accounting and consulting firms in the United States. This extraordinary collaboration will provide the most comprehensive array of advisory services in the industry to banks and lenders in need of turnaround solutions for non-performing real estate assets.
The strength of the strategic alliance lies in the experience of both companies in devising and executing creative and results-oriented solutions that are able to effectively address every need of a bank or lender’s distressed real estate portfolio.
“We are very excited to announce this new alliance with J.H. Cohn,” stated Nicholas Minoia, managing partner of Diversified Realty Advisors. “As a result of this relationship, banks and lenders now have a one-source solution to evaluate their real estate needs and provide them with valuable advice and true guidance in executing the most advantageous approach to turn around their distressed assets and portfolios.”
With expertise handling entire distressed real estate portfolios for banks, Diversified Realty Advisors has developed a strong track record in this area by leveraging its background in all facets of real estate development, including managing the construction of partially-built development projects, to turn around troubled real estate.
A nationwide leader in its field, J.H. Cohn is equipped to provide portfolio consulting services and deep expertise in commercial work-outs, commercial real estate, and residential mortgage finance strategies. J.H. Cohn is positioned to offer smart, tactical options to assist banks and lenders in managing the complex choices surrounding their distressed portfolios.
“Our team is extremely knowledgeable about and sensitive to the circumstances facing community banks and lenders today as they navigate through complex real estate and financial issues that are placing significant stress on their balance sheets,” stated Jim Newfrock, a J.H. Cohn principal. “As a result of our strategic alliance with Diversified Realty Advisors, we are able to bring a level of service to the table to address and solve these complex issues directly.”
With its ability to deliver an independent, non-conflicted evaluation of assets and liabilities, the team is well positioned to execute the full range of real estate management, work-out, and advisory services specific to community banks and lenders.
“While many firms today provide asset management services, that approach alone is not going to provide banks and lenders with the complete arsenal of resources required to foster immediate results. We can provide guidance to banks to assist in determining hold/manage and disposition strategies,” stated Jonathan Stein, managing partner of Diversified Realty Advisors. “Through this strategic alliance with J.H. Cohn, our service platform has the ability to address every aspect of a bank’s challenged portfolio.”
The principals of Diversified Realty Advisors have a combined 50 years of hands on experience in a comprehensive array of real estate disciplines, including loan workouts and modifications, REO/foreclosure, construction management, environmental cleanup, property sales/management, real estate auctions, condominium association transitions, distressed portfolio acquisition, real estate development, legal/mortgagee in possession, financial analysis and feasibility studies, land use approvals, bankruptcy workouts and lease negotiations.
About Diversified Realty Advisors
Diversified Realty Advisors (DRA) is a full-service real estate advisory group servicing the banking industry. The managing partners of DRA have a combined 50 years of experience in all areas of real estate and are able to provide the full range of real estate advisory services and workout solutions for lenders. For more information, visit www.DiversifiedRA.com or call 908-273-2400.
About J.H. Cohn
J.H. Cohn LLP is one of the top 15 accounting and business consulting firms in the United States, with offices in New York, New Jersey, California, and Connecticut. As the Firm celebrates its 90th anniversary this year, its philosophy has remained constant throughout: A highly personalized approach to each client, with intelligent guidance and solutions.