Rhyne Brown
Scope of Service Experience Rhyne Brown is an Executive Vice President of NAI Global and leads NAI's Special Asset Solutions team, providing clients with a single point of access to NAI's comprehensive range of real estate services. NAI's Special Asset Solutions team provides a full range of services including property management, asset management, leasing, project management, auctions, real property and note sales. Education Mr. Brown is a honors graduate of the University of Maryland, with post graduate work there, as well as at the Massachusetts Institute of Technology and Georgetown University Law School. Background & Experience Prior to joining NAI in 2000, Mr. Brown was CEO of Lease Audit Analysis Services, Inc., in Washington D.C., a specialist in the forensic auditing of commercial real estate operating expenses. For lease audit consulting, Mr. Brown's clients have included IBM, The World Bank, First Union Bank, Bank America, PNC Bank and many others. He has also held the position of principal of Thomas R. Brown & Associates, a land planning and development consulting practice specializing in development feasibility analysis. In his 35 years in the real estate industry, he has worked for the U.S. Department of Housing and Urban Development and the Montgomery County, MD. Department of Housing and Community Development. Mr. Brown is also an active investor and principal in various real estate holdings. Professional Affiliations & Designations NAIOP American Bankers Association Significant Transactions Mr. Brown has represented clients in the acquisition or sale of over one billion dollars in real estate in his 35 year real estate career. Major NAI projects include work for DHL, Starwood Hotels, Sodexho, International Paper and 30 other international business firms. Mr. Brown has special expertise in representing banks and investment firms selling distressed assets including REO and notes.
Posts by Rhyne Brown
Missing Details in Foreclosures can be Costly
Aug 4th
NAI Global is very active in helping banks sell distressed assets. Most observers would agree in the last 20 years United States banks have become more complex. Lines of business have grown; transactions have become increasingly complex with multiple borrowers with divergent interests; multi-tiered loan structures became common and crafty lawyer inspired special provisions are sprinkled in here and there. During the same time period, however, commercial real estate transactions have also become far more complex. The complexity of transactions is a significant management problem in and of itself. Information overload often forces bright, hard working bank employees to make mistakes just because the time or experience is not available to fully understand the details of a transaction. More >
Real Costs to Banks to Foreclose on Commercial Real Estate Assets
Jun 4th
The Joint Economic Committee of Congress has calculated that the average foreclosure costs for a single family home in the United States is $77,935. While there is no comparable national statistic for commercial assets the author is aware banks understand that the cost to carry an asset plus the cost of lawyers, brokers, appraisers, property managers, asset managers, security, landscapers, taxes, insurance and eventually the costs associated with selling a commercial property at the end of the day is very substantial. More >
Effective REO Strategies
Apr 14th
One distinguishing feature of banks and servicers that do a good job in selling notes and REO is that they develop an effective strategy to respond to offers once they are received. Selling the bank’s interest in distressed assets places many banks into a situation that requires a higher level of responsiveness to close a transaction than banks are used to. Banks are not built for speed, they are built to ensure that risk is property identified and to try and insure good investment decisions for shareholders.
When offers come in the marketplace assumes a timely reply. There are a limited number of quality buyers with the equity and depth to close in the market. We have seen quality offers to buy REO assets fail because a bank could not act or even reply in less than 60 days. Our advice to the banking community is to have a process that answers or rejects offers in 10 days or less. As all those contracts say, “time is of the essence.” More >
