RPR in the News




FORECLOSED PROPERTIES FIND THEIR WAY TO RELIANCE PROPERTY RESOURCES


HOUSTON, Texas - November 17, 2008 - Foreclosed properties are being offered to Reliance Property Resources to manage at an increasing rate. In recent months, Reliance Property Resources has added 4 foreclosed properties to its portfolio of properties to manage as their owner’s struggle and lenders are left with few options. “With foreclosures on the rise, we have been asked to step up to the plate and take on more foreclosed properties during this time of financial market chaos in order to keep the properties viable and functioning to hold, preserve, and enhance, if possible, until the properties can be sold”, affirms John H. Anderson, President of Reliance Property Resources. Once the foreclosed property is in the hands of Reliance Property Resources, every aspect of management to include finding new tenants for these foreclosed properties is taken care of for the banks and mortgage companies holding these foreclosed properties. “We have been to the movie before and are poised to provide all services required by lenders of foreclosed properties”, adds Jack Murray, Vice President of Engineering & Construction.

Reliance Property Resources was founded in 1980 as a full-service commercial real estate company to provide management, leasing, brokerage, engineering and construction services to a broad range of investor and institutional clients. Currently, the firm has a portfolio of 20 commercial properties in Houston and the surrounding areas. During the 1980’s, Reliance Property Resources had a portfolio of nearly 2 million square feet owned by savings and loans from around the US, the RTC, and the FDIC.

# # #

 
If you would like more information about this topic or to schedule an interview with Margarita Grillo, please call 713-464-4618 or email
Margarita at m_grillo@rprc.com