Highgate Launches Expanded Receivership Services

February 16, 2021 9:53 AM EST

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Leading U.S. hotel operator demonstrates proven expertise to stabilize distressed assets

NEW YORK--(BUSINESS WIRE)-- Highgate, the premier global real estate investment and hospitality management company, announces its receivership and loan resolution capabilities with the formation of a dedicated team that brings decades of expertise as court-appointed receivers and operators for hotels with distressed assets requiring lender involvement. The platform will be led by industry veterans Richard Millard and Joseph Klam.

“Our team brings unparalleled experience to complex assets across all hospitality verticals and unique market situations, providing thorough counsel and execution throughout the process,” said Richard Millard, Managing Director at Highgate. “In every stage of the asset lifecycle, we are a trusted partner to lenders, owners and other interested parties in recovering lost value and stabilizing properties.”

Highgate, through its affiliates, has developed a workout process that supports the asset as a result of having been both the receiver and operator for numerous banks, special services agencies, lenders, and federal agencies.

Using exclusive resources and data, Highgate works diligently to recommend cost-saving strategies and additional revenue sources for underperforming hotels. A dedicated team including accounting, payroll, insurance, compliance, engineering, human resources, and sales and marketing carefully works with local teams to manage, preserve and maximize property value.

In addition to Highgate’s proprietary revenue management technology and distribution services, its global buying power and centralized purchasing system help to secure best-in-class pricing on products and services, while its institutional accounting platform navigates complex finances and legal compliance.

With a large national presence across all asset segments, Highgate is in position to quickly facilitate operating agreements and transition control for hospitality assets seeking immediate relief.

For more information on Highgate’s Receivership and Loan Resolution capabilities, visit Highgate.com or contact Richard Millard at rmillard@highgate.com.

About Highgate

Highgate is a leading real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in major U.S. gateway cities including New York, Boston, Miami, San Francisco and Honolulu, with a growing Caribbean and Latin America footprint. The hospitality forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in New York, Chicago, Dallas, London, Miami, and Seattle. www.highgate.com.

Amanda Lewis / Michelle Kelly
The Zimmerman Agency
850.668.2222 • alewis@zimmerman.com

Source: Highgate

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