Receivership and workout consulting services
Dan Whitaker Consulting provides professional receivership and workout consulting services delivering efficient and positive outcomes for all parties.
Dan’s extensive background in commercial real estate includes accounting (CPA), lending (including special assets workout), development, negotiating and structuring leases and property sales, and management of significant environmental mitigation matters. Dan’s experience covers all asset types including retail, industrial, office, apartments, and mobile home parks. Dan’s projects often involve complex financial and governance challenges. He is also experienced in environmental remediation and cost allocations involving multiparty coordination and collaboration. He has a unique skill set for resolving some of the most challenging problems. A proven team leader, Dan brings together the right members with clear direction and support, delivering successful conclusions.
REAL ESTATE RESOLUTION EXPERIENCE
Olympia Office Building – Client owned a 65,000 s.f. office building in Olympia that was 100% leased to state agency, whose lease was ending soon. Similar to a receiver, Dan was hired to review the situation, develop, and analyze options ranging from attempting to keep the agency, to a complete conversion to multifamily. Based on his analysis, Dan assisted the owners in successfully selling to a local investor.
Equity Partner – A family which had significant property holdings, contributed its main real estate asset for a position in a new development project. The project became problematic and, like a receiver would be, Dan was brought in to unwind and protect the family’s investment. Dan’s research uncovered fraud and embezzlement on the part of the developer, which led to a successful lawsuit and judgement in favor of the family.
Client Loan Extension – A client had multiple loans coming due with a local bank. The situation was intensified by the client’s past, which included late taxes to the IRS, bank account seizures, contaminated property, and un-kept promises to the bank. Dan stepped in and working with the borrower, laid out a plan to correct the issues, developed policies to keep commitments and started work to address environmental issues. The bank was happy with the progress, agreed to a short extension which was later successfully refinanced.
For Receiver’s Counsel, Dan has established relationships with Jay Kornfeld, Bush Kornfeld and Jennifer Faubion, Cairncross & Hemplemann.
Other Firms Dan has enjoyed working with include:
Legal – Real Estate & Transactions
Bob Fikso, Fikso Kretschmer Smith Dixon Ormseth PS
Legal – Environmental
Doug Steding, Northwest Resource Law
Mark Hatley, Arcina Risk Group
Laura Bachman, The Bachman Group
Commercial properties – Azose Commercial
Properties Multifamily properties – Redside Partners
Many industry contacts to select the right firm for the situation
INSIGHTS FROM DAN
Need to know what's going on with real estate portfolio management? Want to know the latest trends about leasing, banking or finance? Check out Dan's blog to find out about his insights into this industry.
“I work with a lot of good people that have high integrity, but I think of Dan at the top of that list. He’s never going to cut any corners, and he’s going to be completely honest with you. I think that’s his greatest strength.”
Tim Brown, Senior Analyst, Moran & Company