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The First 30 Days of a Distressed Asset Takeover: What to Do First and What to Resist

When a new management company takes over a distressed multifamily asset, there’s enormous pressure to show results fast. Ownership wants to see rents increase. Lenders want to see a turnaround plan. The temptation is to walk in on day one with aggressive pricing changes and new vendor contracts.

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As originally published on citybiz.co