Tag Archives: The Terranova Group

The Terranova Group has launched a program to purchase troubled assets from the portfolios of community banks while raising capital to support the banks' stability and recovery. After conducting an analysis of a bank's REO portfolio and nonperforming assets, Terranova will advise and execute a disposition strategy in which the troubled assets are acquired from the bank's portfolio.

The Terranova Group, a third-party provider of specialized asset management and disposition services, recently hired Richard Parvey to join its executive team as director of land development. A 20-year industry veteran, Parvey brings a wealth of land acquisition and development experience to his new role, where he will be responsible for helping financial institutions move bank-owned and non-performing developments off their books.