Receiver of 6 Midland, Texas Office Buildings
Operations Management, Leasing, Strategic Plan

The Bottom Line:
The owner of six large office buildings in the Central Business District of Midland, TX stipulated to the appointment of a receivership. Stapleton Group was selected to take control of the portfolio as Receiver and lead the sale of the leveraged buildings.
Actions:
As Receiver, we successfully took over operations, deployed a new management team, completed on-going deferred repairs and maintenance, and launched a successful leasing campaign. We hired listing agents and currently are working with them and the Special Servicer to effectuate a creative recovery strategy, which will involve the assignment of outstanding loans secured by the buildings.