Real Estate Divestiture Services
ACO provides turn-key consulting and transactional services to corporations, estate and family trusts, and individuals requiring help in analyzing and selling excess and non-performing assets. ACO has extensive experience in all facets of real property dispossession including:
- Highest and Best Use Analysis - analyze asset and implement strategy to ensure that asset is sold as quickly as practical at maximum value to client.
- Zoning/Permitting - many assets will require planning or zoning work to ensure a timely and high-value transaction for the client. ACO provides advisory services in all types of zoning/planning processes, including subdivision, site plans, variances, etc.
- Property Management - ACO can provide asset management services during divestiture for clients who hold real estate. ACO has provided services for clients with vacant land, vacant residential and commercial buildings, as well as tenanted or occupied commercial and residential buildings. These services can include traditional property management, construction/fitup coordination and bookkeeping/financial services and reporting.
- Transactional Services - ACO provides brokerage services for clients directly for property in ACO's local market area or can find a qualified broker on behalf of the client and manage the process through closing in out of market locations.
- Woods Lodge, Schroon, New York - ACO is currently retained as the court appointed trustee to dispose of family held real estate assets in the Adirondack region. The real estate included commercial and residential buildings along with vacant land located within the Adirondack Park on the waterfront . ACO performed a highest and best use analysis, subdivided the lands, and hired a local broker to divest of the property on behalf of the client. ACO also has provided property management services and has successfully divested of the majority of this unique real estate asset.
- Sitterly Road, Clifton Park, New York - ACO represented a local lender to divest of this non-performing commercial real estate asset in southern Saratoga County. The building was a partially occupied commercial office in need of extensive repairs. ACO services included ongoing management of the building, oversight of improvements and maintenance in order to prepare the property for a sale, as well as traditional brokerage services to facilitate a successful transaction.
- Niagara Mohawk Power Corporation - ACO managed a statewide real estate divestiture program on behalf of a major upstate New York utility provider. Services included valuation and assessment, marketing and sale of excess real estate held by the utility company throughout upstate NY. At times, the sale of excess properties involved a highest and best use analysis along with project permitting and approvals. ACO also provided services as an outsourced real estate department, taking care of the client's internal needs relating to real property management.