Court Appointed Receiverships

<p>Price Edwards &amp; Company principals have served as Receiver on over 50 retail, office, industrial, and multifamily properties across Oklahoma. Given the current realities of both the financing and tenant markets, lenders are now finding themselves in a position where they need to quickly gain control of assets in an effort to avoid further physical deterioration and loss of value. <br><br> Once installed as Receiver, via court order, Price Edwards &amp; Company and its staff will move to secure the property, gain control of all operating accounts, notify all vendors, interview and evaluate the level and competency of existing staff, document the current condition of the physical plant, review all vendor pricing and scope of services, obtain all relevant lease files and records, assure proper levels of insurance are in place, and begin to build a relationship with existing tenants or residents in an effort to stabilize property related income streams. Once these and a variety of other foundational measures are taken, a property specific asset plan can then be initiated. <br><br> Price Edwards &amp; Company is very familiar with the requirements associated with the court approval process, bonding requirements, the detailed financial reporting appropriate for this type of legal action, and the obligation to serve as an officer of the court until formally dismissed.</p><h2>Properties where Price Edwards has served as receiver</h2><table class="table" cellpadding="1" cellspacing="1"><tbody><tr><td colspan="2"><strong>Retail receiver list</strong></td></tr><tr><td width="500">Property Name</td><td width="81">Square Feet</td></tr><tr><td>Crossroads Mall, Oklahoma City, OK</td><td>1.2 Million</td></tr><tr><td>Alameda Square Shopping Center, Norman, OK</td><td>85,420</td></tr><tr><td>Berkshire Plaza Shopping Center, Edmond, OK</td><td>39,000</td></tr><tr><td>Brookwood, North I &amp; II Shopping Center, Oklahoma City, OK</td><td>58,429</td></tr><tr><td>Bryant Square Shopping Center, Edmond, OK</td><td>282,000</td></tr><tr><td>Canadian Square Shopping Center, El Reno, OK</td><td>133,779</td></tr><tr><td>Crossroads Cinema, Oklahoma City, OK</td><td>32,139</td></tr><tr><td>Crossroads Shopping Center, Oklahoma City, OK</td><td>31,269</td></tr><tr><td>Edmond Plaza Shopping Center, Edmond, OK</td><td>158,373</td></tr><tr><td>Kelly Plaza Shopping Center, Edmond, OK</td><td>85,365</td></tr><tr><td>Rockwell Plaza Shopping Center, Oklahoma City, OK</td><td>406,000</td></tr><tr><td>Southwestern Plaza Shopping Center, Oklahoma City</td><td>117,846</td></tr><tr><td>Walker Square Shopping Center, Oklahoma City, OK</td><td>136,000</td></tr><tr><td>Broken Arrow Associates, Broken Arrow, OK</td><td>10,000</td></tr><tr><td>Redbud Center, Broken Arrow, OK</td><td>6,600</td></tr><tr><td>Bradford Plaza, Stillwater, OK</td><td>96,000</td></tr><tr><td>Total Square Feet</td><td>1,678,220</td></tr></tbody></table><p>&nbsp;</p><table class="table" cellpadding="1" cellspacing="1"><tbody><tr><td colspan="2"><strong>Multifamily receiver list</strong></td></tr><tr><td width="500">Property Name</td><td width="81">Units</td></tr><tr><td>Autumn Creek Apartments, Oklahoma City, OK</td><td>152</td></tr><tr><td>Autumn Glen Apartments, Del City, OK</td><td>244</td></tr><tr><td>Brighton Place Apartments, Oklahoma City, OK</td><td>158</td></tr><tr><td>Brookwood Village Apartments, Oklahoma City, OK</td><td>1,141</td></tr><tr><td>Bryant Square Apartments, Edmond, OK</td><td>96</td></tr><tr><td>Cambridge Landaing Apartments, Oklahoma City, OK</td><td>400</td></tr><tr><td>Candlewood Apartments, Del City, OK</td><td>264</td></tr><tr><td>Cherry Hill II Apartments, Tulsa, OK</td><td>128</td></tr><tr><td>Chestnut Hill</td><td>110</td></tr><tr><td>Cimarron Apts FNMA</td><td>240</td></tr><tr><td>Cimarron Pointe Apartments, Oklahoma City, OK</td><td>252</td></tr><tr><td>College View Edmond</td><td>44</td></tr><tr><td>Country Meadows Apartments, Lawton, OK</td><td>201</td></tr><tr><td>Courtyard Apartments, Oklahoma City, OK</td><td>96</td></tr><tr><td>Eagle Pointe Apartments, Oklahoma City, OK</td><td>286</td></tr><tr><td>Executive Hills Series, Tulsa</td><td>131</td></tr><tr><td>Garden Haus Apartments, Oklahoma City, OK</td><td>252</td></tr><tr><td>Grandville Apartments, Oklahoma City, OK</td><td>240</td></tr><tr><td>Hidden Village Apartments, Edmond, OK</td><td>100</td></tr><tr><td>Hollybrook Apartments, Lawton, OK</td><td>20</td></tr><tr><td>Knight Lake Apartments, Oklahoma City, OK</td><td>160</td></tr><tr><td>Lakewood Park Apartments, Oklahoma City, OK</td><td>215</td></tr><tr><td>Lakeside Village Apartments, Oklahoma City, OK</td><td>150</td></tr><tr><td>Meadow Creek Apartments, Oklahoma City, OK</td><td>68</td></tr><tr><td>Midwest Territory Apartments, Midwest City, OK</td><td>176</td></tr><tr><td>Park Place, Oklahoma City, OK</td><td>260</td></tr><tr><td>Park West Apartments, Norman, OK</td><td>160</td></tr><tr><td>Pickwick Arms Tulsa</td><td>260</td></tr><tr><td>Plum Tree Oklahoma City</td><td>36</td></tr><tr><td>Rivera Park Apartments, Oklahoma City, OK</td><td>80</td></tr><tr><td>River's Edge Apartments Tulsa</td><td>48</td></tr><tr><td>Rockwell Plaza Apartments, Oklahoma City, OK</td><td>304</td></tr><tr><td>Southern Elms, Tulsa, OK</td><td>78</td></tr><tr><td>Springcreek Apartments, Oklahoma City, OK</td><td>336</td></tr><tr><td>Steeple Chase Oklahoma City, OK</td><td>224</td></tr><tr><td>Summerwood Apartments, Oklahoma City, OK</td><td>96</td></tr><tr><td>Tammaron Village Apartments, Oklahoma City, OK</td><td>400</td></tr><tr><td>Tanglewood Apartments, Lawton, OK</td><td>55</td></tr><tr><td>Timberwood Apartments, Oklahoma City, OK</td><td>128</td></tr><tr><td>Town &amp; Country Village,Oklahoma City, OK</td><td>200</td></tr><tr><td>Walker Place Apartments, Oklahoma City, OK</td><td>164</td></tr><tr><td>West Point Apartments, Oklahoma City, OK</td><td>82</td></tr><tr><td>Woodpark Estates Apartments, Oklahoma City, OK</td><td>207</td></tr><tr><td>Woodside Apartments, Midwest City, OK</td><td>188</td></tr><tr><td>Yorkshire Apartments, Midwest City, OK</td><td>111</td></tr><tr><td>Total Units</td><td>8,741</td></tr></tbody></table><table class="table" cellpadding="1" cellspacing="1"><tbody><tr><td colspan="2"><strong>Office receiver list</strong></td></tr><tr><td width="500">Property Name</td><td width="81">Square Feet</td></tr><tr><td>2525 NW Expressway Office Bldg, Oklahoma City, OK</td><td>82,000</td></tr><tr><td>Oklahoma Tower, Oklahoma City, OK</td><td>568,000</td></tr><tr><td>United Founders Tower, Oklahoma City, OK</td><td>160,000</td></tr><tr><td>Total Square Feet</td><td>810,000</td></tr></tbody></table>