09/16/2026
Simon PLC Attorneys & Counselors is pleased to share the successful $75 million sale of a multifamily property under the receivership and guidance of Frank R. Simon, Nationwide Receiver and Managing Member.
For more than a year, Receiver Simon and his team provided hands-on oversight of the property, working closely with the management company, which did a phenomenal job executing the operational strategy and strengthening the performance of the asset. During the receivership, occupancy was stabilized and improved to more than 96%.
Receiver Simonβs oversight also extended to construction of the propertyβs anchor restaurant and coordination with the City on various incentive and permitting matters. Together, these operational, capital, and development initiatives helped strengthen the property and position this beautiful asset for a successful disposition.
Our sister company, Simon Property Disposition LLC, was also involved in bringing the asset through the disposition process.
We congratulate the buyer on a successful acquisition and appreciate the professionalism and diligence demonstrated throughout the transaction. We are confident their continued investment and stewardship will further improve the property for its residents and the surrounding community.
We also congratulate and thank the lender and its attorneys, whose collaboration and support were invaluable throughout more than a year of receivership oversight and in bringing the parties to a successful $75 million sale.
This result demonstrates what can be accomplished when experienced receivership oversight, strong property management, strategic capital improvements, municipal collaboration, engaged stakeholders, and a coordinated disposition strategy work together toward a common objective.
Simon PLC Attorneys & Counselors
πΌ Frank R. Simon β Nationwide Receiver, Managing Member
π§ [email protected]
π simonattys.com
π 248-720-0290
Nationwide Receivership Services:
https://simonattys.com/nationwide-receiver/