Applied Service Group and Brij Capital merge forces

FOR IMMEDIATE RELEASE March 25, 2013

(New York, NY) With the growing number of property owners with commercial buildings falling into default because of the economy, prices are currently 42% below the 2007-2008 peak. The principals of Applied Service Group and Brij Capital have combined their efforts to assist these owners through various loan resolutions.

 Millions of commercial real estate from apartment buildings to strip malls are in default or various stages of foreclosure. Thousands of owners have notes that are due to be paid in full because of balloon payments. With lending criteria still restrictive and many properties still underwater, there is a great demand for loan workouts and resolutions.

 It is estimated that approximately $1.5 Trillion in commercial real estate mortgage notes will mature, balloon payments will come due, and owners will need to either pay off the mortgage, refinance, or in the majority of cases they will end up losing the property to their lender in a foreclosure unless they execute a loan workout.

 Applied Service Group, a New York and Atlanta based company, has been working with business and commercial real estate owners for over 5 years originating mortgages and funding business loans. For the past four years, they have modified over 300 residential properties and look to take that expertise to modifying and restructuring loans for commercial real estate owners. “We look forward to combining our forces with Brij Capital because this is a huge market that needs a lot of attention and expertise in handling distressed situations,” states Senior VP Loan Consultant Carl Agard of Applied Service Group.

 Brij Capital, a New York based company, has been instrumental in providing financial solutions for commercial real estate buyers and investors for over five years. Together with Applied Service Group they look to assist distressed property owners through, loan workout, modifications, debt restructuring, refinancing, and short payoffs.

 For more information, contact:

 

Applied Service Group

Carl Agard
Senior VP Loan Consultant
347-581-1611
www.appliedservicegroup.com
cagard99@aol.com

 Brij Capital

Ray Acevedo
President
718-795-5611
www.brijcap.com
racevedo@brijcap.com