The Distressed Assets Association is Growing

In June of 2009 3 guys came together to discuss a new venture.

CREDAA is the brainchild of Scott Miller and Warren Samek, both National Commercial Account Executives with Fidelity National Title in Seattle, WA and JW Najarian, formally a commercial lender with Pathfinder Commercial Mortgage and the Founder of The Commercial Real Estate Professional Investor Group out of Los Angeles.

After the real estate and stock markets fell in September of 2008 the founders envisioned a commercial real estate collapse coming as the CRE market tends to lag just around 2 years from the residential market. We believe now that due to the magnitude of the market and residential market crashes, the commercial collapse is happening at a quicker pace.

Due to the TARP plan we believe the banks are holding troubled assets at an alarming rate and furthermore, that if these assets are held too long, that the market recovery will be much longer than it needs to be.

The founders came up with the idea that if the industry had a place to be able to work together at finding solutions, that the recovery could be sped up. The founders believe that an association of industry professionals and investors can, given the most current information, data and education, find and implement solutions that will help banks, brokers, lenders, investors and property owners re-work or get out from under troubled assets with the least losses.

CREDAA was founded in pre-launch on August 20^th 2009.

CREDAA now has twenty two commercial industry and business leaders from many diverse skill sets.

• CREDAA Advisory Board
• CREDAA Mission and Vision Statement
• CREDAA Main Page

It is CREDAA’s goal to provide brokers, lenders, banks, investors and other CRE industry professionals, education, solutions, resources and other support to help them in the disposition, acquisition, valuation and financing of CRE Distressed, Toxic, Unstable or troubled assets and non-performing notes. Become a membership of companies and individuals operating in the commercial real estate, investment, finance, and banking industries.

JW Najarian

CREPIG
CREDAA

Commercial Unstable, Distressed, Toxic, Non-Performing Notes, Assets, Property

There are a lot of terms being thrown out today when discussing the commercial real estate market’s unstable asset classes. Which one is the proper term to use?

To me they all mean the same thing and if you look up the definitions they only vary slightly, but the street seems to have mad a differentiation between Distressed Assets meaning; probably bank owned REO and Non Performing which seems to speak to notes in pre foreclosure. I use unstable assets to mean both REO and Non-Performing, which is probably wrong and CNBC and MSNBC seem to like the terms Toxic Assets to describe these asset classes. I am sure that the word toxic seems to conjure up more evil and enticing response for the media.

I would love some clarification on what terms you are using and what is the correct usage of the terms.

I will post the best answer on The Commercial Real Estate Distressed Assets Association Website. www.CREDAA.com

CREDAA is in pre-launch and is looking for members that engage in the disposition, acquisition, valuation, finance, development or outcome of these various classes of commercial assets.

JW Najarian
Co-founder CREDAA
Founder CREPIG