SACRAMENTO, Calif. (April 11, 2016) – Jeffrey Fanzo of ProEquity Asset Management Corporation has been named the court appointed receiver of River Park Offices.
The River Park Offices are a 70,945 SF class-C office complex located at 1540, 1555, and 1565 River Park Drive in Sacramento. Under Fanzo’s leadership, ProEquity will act as the exclusive management and leasing agent for the project. ProEquity has assumed immediate oversight and is working to stabilize the property’s operations.
ProEquity’s property management team plans to add value to the office complex by addressing maintenance issues, abstracting leases and establishing processes to improve tenant and client communication. During this time, the ProEquity leasing team will begin a campaign focused on acquiring new leases for the building, which consists of small office suites and private executive offices.
“ProEquity has a track record of successfully bringing receivership and REO properties back to stabilization,” said Michael Turner, ProEquity Managing Director. “Our management team on the operational, marketing and transaction side will continue to apply value-add strategy that has proven to be an instrumental factor in helping lenders and special servicers throughout the Western United States.”