Business Specialties Investments
May 28, 2009
A new joint venture aims to assist the Federal Deposit Insurance Corp. with real estate issues associated with the agency's expected take over and liquidation of hundreds of banks over the next several years. The new entity,Next Wave Advisors Inc. is a partnership between Third Wave Partners, Portfolio Property Advisors L.L.C. and The Moote Group. Next Wave, a certified FDIC contractor will provide services including bank workouts, asset valuation and repositioning, construction services, disposition and environmental due diligence. Next Wave will also act as principal to acquire or recapitalize FDIC assets. While Next Wave will look at individual opportunities on a case-by-case basis, the firm is focused primarily to take on assignments related to FDIC problem and failed banks.
A new joint venture aims to assist the Federal Deposit Insurance Corp. with real estate issues associated with the agency's expected take over and liquidation of hundreds of banks over the next several years. The new entity,Next Wave Advisors Inc. is a partnership between Third Wave Partners, Portfolio Property Advisors L.L.C. and The Moote Group. Next Wave, a certified FDIC contractor will provide services including bank workouts, asset valuation and repositioning, construction services, disposition and environmental due diligence. Next Wave will also act as principal to acquire or recapitalize FDIC assets. While Next Wave will look at individual opportunities on a case-by-case basis, the firm is focused primarily to take on assignments related to FDIC problem and failed banks.
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