Fameco to lease retail component of St. Joe’s medical center
Plymouth Meeting, Pa. — Fameco Real Estate, LP said it has been appointed by St. Joseph’s Regional Medical Center, in Paterson, N.J., as exclusive leasing agent for the new retail component to be constructed at the St. Joseph’s Regional Medical Center and Children’s Hospital campus.
St. Joseph’s has embarked on a five-year $250 million facilities expansion project, which will include 20,000 sq. ft. of approved high-profile retail space. The space will be contiguous to the recently completed main lobby as well as the new 1,122 car parking garage, now under construction. The retail space will have storefronts along Main Street and be available for occupancy in early 2012.
Hilco Real Estate launches managed asset resolution arm
Northbrook, Ill. — Hilco Real Estate said Thursday it has formed Hilco Real Estate Managed Asset Resolutions to provide turnkey loan servicing to lenders and other real estate investing entities on their most deeply-distressed loans and REO assets.
Jerry T. Hudspeth has joined Hilco as CEO of the new group. Joining Hudspeth on the leadership team are Ronald M. Lubin, Edmund H. Terry and Michael Tsandilas.
“Deeply-distressed assets need specialized attention and unique skills to maximize value,” Hudspeth said. “Traditional servicers and lender workout groups cannot afford, or are often simply unable, to properly service these assets.”