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Asset Management Firms Team Up in Minority Business Joint Venture

""UrbanAmerica Advisors"":http://www.urbanamericaadvisors.com and ""Green River Capital"":http://www.greenrivercap.com have created a joint venture minority business enterprise (MBE) called UrbanAmerica Res Services.
[IMAGE] Headquartered in Dallas with offices in Salt Lake City, Atlanta, and New York City, ""UrbanAmerica Res Services"":http://www.uaresservices.com is a network of 7,000 deal sourcing, loss mitigation, asset management, and valuation professionals.

UrbanAmerica Advisors is a registered investment advisor specializing in urban center real estate investment, development, and asset management. Green River Capital is an REO asset management and loss mitigation provider for mortgage servicers, investment firms, and banking institutions.

The new company combines UrbanAmerica Advisors' national infrastructure and local community development relationships with Green River Capital's


services for management of REO properties and short sales nationwide.

Richmond S. McCoy co-founded and chairs UrbanAmerica Res Services. An industry veteran with 30 years of real estate experience, he also co-founded UrbanAmerica in 1998. He has led equity-raising efforts totaling $520 million as well as the deployment of that capital into more than $2 billion of assets over the last 12 years, according to a statement from the companies.

""We've observed that there is insufficient participation throughout this services sector by minority-owned companies and real estate brokers,"" McCoy said. ""These are the very people who can most effectively impart solutions in the communities disproportionately affected by the crisis.""

Christopher West, president and CEO of Green River Capital, is co-founding partner of UrbanAmerica Res Services. He has more than 22 years' experience in the REO and mortgage servicing industries.

""We expect our partnership with UrbanAmerica to enhance and extend the value that both companies offer to the financial industry,"" West said. ""UrbanAmerica Res Services is ideally positioned to maximize value for investors while providing a solution in situations where connecting with borrowers can be difficult and to create outcomes that will aggregate the efforts towards neighborhood stabilization.""

About Author: Heather Cernoch


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