Foreclosed Properties Management

Commercial banks, life insurance companies, and mortgage companies have over the years requested RPR manage/lease foreclosed properties of all property types and sizes.

Reliance Property Resources expeditiously takes over and works diligently to keep the property fully functional for the lender until the property is sold. We make every effort to provide a seamless transition with no lapse in service for each tenant. We introduce ourselves to each tenant, fully inspect the building envelope and individual tenant spaces, and oversee any repairs or upgrades to rectify any physical deficiency or to improve curb appeal.

Reliance Property Resources endeavors to obtain lease files, accounting date, building and space plans, property surveys, warrantees or guarantees and any available documentation to assist in the transition or disposition of the property.

For example, in 2009, Reliance Property Resources managed three foreclosed shopping centers, a medical office building foreclosure and a large manufacturing facility foreclosure, all of which were put on the market and sold. During the 1980's, Reliance Property Resources had a portfolio of nearly 2 million square feet owned by savings and loans, the RTC and the FDIC.