Andrew Van Tuyle
LOS ANGELES – April 7, 2021 – PRLog — So far, the COVID-19 pandemic hasn’t spawned the waves of property distress that were initially predicted. However, once lenders can pursue remedies, Andrew Van Tuyle, senior managing director of investments for BH Properties, expects the floodgates to open for loan sales in judicial foreclosure states and situations where bankruptcy appears imminent.
Speaking to an audience of the American Bankruptcy Institute, Van Tuyle, who oversees the Value Add and Bankruptcy divisions of the company, and is responsible for identifying potential acquisitions, stalking horse bids, debtor in possession financing, and other related opportunities, said that pressure from lenders or creditors or investors has been mitigated or delayed by all the government intervention programs.
“So debtors have been less inclined to file because of the lack of pressure, said Van Tuyle. “When CECL [Current Expected Credit Losses] and TDR [Troubled Debt Restructuring] relief expires, borrowers will begin to experience more pressure, which should result in more bankruptcies.”
Every time it appears that there will be some activity around distressed debt in the market, a stimulus package is released, which inevitably delays transactions. When loans have traded, they’ve usually been for 90 cents on the dollar or even more. The problem is that buyers expect 60 to 70 cents on the dollar, causing gridlock in the market.
“The reality is though that so few deals are hitting the market, that bid sheets are as deep as they’ve ever been,” Van Tuyle said. “So either the loan sales aren’t trading, or a buyer is stepping up and getting the bid over 90 cents.
“Many of these lenders and special servicers aren’t staffed to take on the sheer number of loan defaults that they have. They will probably be too overwhelmed to deal with the number of problem loans they’ll face,” he continued.
In other cases, lenders don’t want to deal with the hassle or public relations fallout of foreclosures.
“We don’t think that lenders are going to want to be the big bad bank that got bailed out in the last financial crisis and is foreclosing on the poor borrower that was negatively impacted by COVID at no fault of their own,” he added.
Even beyond staffing crunches, servicers have other reasons to rid themselves of loans quicker than they did during the Global Financial Crisis (GFC).
“CMBS 2.0 also has created some changes from the GFC that will put pressure on special servicers to move quicker than they did last time instead of milking the process,” Van Tuyle says.
Add it all up, and once the government support eases up, there should be opportunities to buy, he concluded.
About BH Properties
Founded 23 years ago by real estate entrepreneur Steve Gozini, privately held BH Properties (http://www.bhproperties.com), is a vertically integrated real estate investment company focusing on the acquisition and management of a geographically and product diverse portfolio of assets. The Los Angeles-based company, with offices in Phoenix and Dallas continues to focus on value-add transactions, distressed debt, special situations and ground leases. Today the company owns and operates nearly 10 million square feet across 19 states.
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A Mother’s Love
Through the Eyes of Her Child, a new book by Dr. Lydia Pettis Patton, has been released by Dorrance Publishing, Co.
About the Book
Having forty years of experience of inspiring, nurturing, guiding, and raising children, from her own children to her grandchildren, Dr. Patton captures holistic parenting during the era when parenting is critical to the success of a child.
About the Author
Dr. Lydia Pettis Patton is the former city manager of Portsmouth, Virginia and the first woman to serve in post after 263 years. She serves as a motivational coach for the I.C. Norcom high school football team, inspiring and motivating athletes to successful pathways in life.
A Mother’s Love
Through the Eyes of Her Child is a 130-page paperback with a retail price of $13.00. The ISBN is 978-1-6491-3103-4.It was published by RoseDog Books of Pittsburgh, Pennsylvania. For more information, or to request a review copy, please go to our virtual pressroom at www.dorrancepressroom.com or our online bookstore at http://bookstore.dorrancepublishing.com/
Princess of Bosou Islands: Making of Alicestria Montgomery Bosi, a new book by Herman III, has been released by Dorrance Publishing Co., Inc.
About the Book
This is the story of the rise of Alicestria Montgomery Bosi, the Princess of Bosou. A young woman of just twenty years old, she is thrust into power through the support of her family, friends, and the people of the Islands of the Bosou Plate.
With dreams of Bosou and the other Gods, Princess Bosi understands that her life is not all that it seems, but when she discovers that she is a product of the Gods, her identity and her path forward will be indelibly transformed.
About the Author
Herman III is a builder, toy maker, storyteller, and Christian. He credits his late father for his many interests, describing him as a man of many talents.
Princess of Bosou Islands: Making of Alicestria Montgomery Bosi is a 204-page paperback with a retail price of $16.00. The ISBN is 978-1-6480-4109-9. It was published by Dorrance Publishing Co., Inc of Pittsburgh, Pennsylvania. For more information, or to request a review copy, please go to our virtual pressroom at www.dorrancepressroom.com or our online bookstore http://bookstore.dorrancepublishing.com/
Caring for Your Friend with Dementia, a new book by Jo Ann Rosenfeld, M.D., has been released by Dorrance Publishing Co., Inc.
The author writes, “It can be very difficult to see the beginning signs of dementia in one of our loved ones. We may not know just if and when they require assistance beyond our control.”
Caring for Your Friend with Dementia is about how to care for a person with dementia. It also includes the author’s medical thoughts and advice she gives to her patients.
About the Author
Jo Ann Rosenfeld, M.D., is an American Academy of Family Medicine Board certified family physician with 42 years’ experience. She graduated from Johns Hopkins School of Medicine and finished a residency at Case Western Reserve University Hospitals. She has practiced inner-city and rural health. One of her first interests was Women’s Health and she published 6 textbooks on women’s health with Cambridge University Press, after more than 60 research articles. She was Professor of Family Medicine at East Tennessee State University and Assistant Professor of Medicine at Johns Hopkins School of Medicine. She now spends time in private practice, palliative and hospice care, and pain management. She lives in Northern California.
Caring for Your Friend with Dementia is an 86-page paperback and eBook with a retail price of $11.00. The ISBN is 978-1-6491-3500-1. It was published by Dorrance Publishing Co., Inc of Pittsburgh, Pennsylvania. For members of the press, to request a review copy, visit our virtual pressroom at http://dorrancepressroom.com/caring-for-your-friend-with-dementia/ or to buy the book visit our online bookstore at http://bookstore.dorrancepublishing.com/caring-for-your-friend-with-dementia/
Diva Queens: The Promised One, a new book by Rodd Symien, has been released by Dorrance Publishing Co., Inc.
About the Book
“Diva Queens: the Promised One is book number 6 in a 13 book series, including extra short stories and a profile book on the main characters. In book number 6 Queen Martha Ruth Ark, along with a circle of valiant warriors are on a mission. Their mission is to fight Queen Matilda and her army of Shadow Knights. In Diva Queens: the Promised One, not only is Queen Matilda on a quest for revenge, but she is also in search of a book called: the Ancient Text.
This is a book written for readers who like fun-loving action and adventure with a wide variety of complex characters. That said, the Diva Queen series has many other, deeper meanings as well. These things will unfold in all the other books to come.”
Diva Queens: The Promised One is a 200-page paperback with a retail price of $16.00. The ISBN is 978-1-6461-0475-8. It was published by Dorrance Publishing Co., Inc of Pittsburgh, Pennsylvania. For more information, or to request a review copy, please go to our virtual pressroom at www.dorrancepressroom.com or our online bookstore http://bookstore.dorrancepublishing.com/
April 6, 2021 – PRLog — An eight-time NBA All-Star, Steve Nash has been named the newest TNNS Global Brand Ambassador.
“TNNS Pro will not only change the way we think about tennis but TNNS Pro is also building a better future for the sport,” said Steve Nash .
An eight-time NBA All-Star, Nash is a Canadian professional basketball coach and former player who is currently the head coach of the Brooklyn Nets. Nash played 18 seasons with the Phoenix Suns, Dallas Mavericks and Los Angeles Lakers. He won back-to-back MVP awards in 2005 and 2006 while playing for the Suns, becoming just the 10th player in NBA history to win the award in consecutive seasons. A five-time assist champion, Nash currently ranks third in NBA history with 10,335 career assists.
“A character in one of Shakespeare’s plays once said, some are born great, some achieve greatness, and some have greatness thrust upon them. Any of these could apply to Steve Nash.” said Nick Williams, one of the Co-founders of TNNS Pro. “We are extremely pleased to have Steve become our TNNS’s Global Brand Ambassador. We are using the most innovative blockchain technologies to develop a new generation of tennis that can contribute to the sport”
“Steve is a remarkable talent and we know he is only going to continue to rise to new heights,” said Tsolak Gevorkian, the CEO of TNNS Pro. “When we first approached Steve about a partnership nearly a month ago, we were drawn to his confidence and fierce ambition as much as his power to hold nothing back. He loves to express himself with sports and is a constant inspiration to his fans on living boldly. It’s that authenticity and unapologetic spirit that we admire, and we are thrilled to welcome him to the TNNS family.”
“Steve is a passionate athlete who advocates for others. He brings an exceptional level of enthusiasm and passion to everything he does and displays graciousness and humility everywhere he goes,” said Sam Chow, the COO of TNNS Pro.
About TNNS Pro
TNNS Pro is the first company that will reward non-professional tennis leagues and tournaments with innovative blockchain technology that will bring value to tennis players to use and love. Each club or association that joins will be given a supply of TNNS Tokens to reward its members and fans. We see the future where non-professional leagues or events will reward their winners with TNNS Tokens and there is a limited supply of anywhere in the world. Making the world of non-professional feel the competitiveness of the professionals.
For tennis players, fans, event organizers, brands and sponsors that will offer discounts on products and live virtual tickets, so that you can create a lively atmosphere for your favourite player and feel like you are there in the front row and you can even cheer on your favourite players from thousands of miles away. Be part of the environment, in the main live tennis events. Each court can have 100,000 to 200,000 live viewers with TNNS tokens.
We are also interested in talking to brands and event organizers. Our goal is to give you a complete experience within the TNNS token ecosystem. If you would like to partner with us, please feel to contact us firstname.lastname@example.org