Prism Capital Partners, LLC, of Englewood, New Jersey, has brought to the fore a new initiative. This happens to be a third-party consultation and property management services (CPMS) program meant for commercial lenders holding distraught assets and REOs.

"Our CPMS program responds to the continued erosion in market conditions for commercial real estate assets," said G. William Roesch, a Prism principal and the firm's CFO. "This program is intended to provide lenders and/or servicers with a strategic alternative to continuing with the incumbent sponsors/ managers of a troubled asset and as a viable supplement to their own internal staff resources."

It has been learnt, as per the very program, Prism will render clients with asset management and strategic business plan formation and execution, best practices implementation for preventative maintenance and operations, and financial accounting and reporting.

This must be kept in mind also that the CPMS program also proffers capital improvement planning and implementation, a hands-on team of professionals, and resource allocation for properties with limited staffing requirements, in addition to in-house leasing and marketing services, the company said.

Prism Capital Partners, LLC had its own commencement in 2002. The company had had its roots in an investment firm and by now, it has grown into a vertically integrated real estate company. The company, at the moment, has specialization in asset management, property management, financial reporting, construction management, leasing, and marketing. Its portfolio of properties under management surpasses 2 million square feet within a number of asset classes, including office, retail, industrial, mixed-use, and land holdings.