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 Kearny Street Portfolio
 
In June 1993, Kearny Street Real Estate Company acquired a $1.4 billion portfolio of non-performing loans and real estate from Bank of America. The portfolio consisted of over 120 individual properties located predominately throughout the Western United States. Kearny designed and implemented individual strategies for each asset and liquidated these assets over a six-year period. The Kearny Street investment returned nine times the equity invested to its owners.

During the life of the portfolio, Kearny owned fee title to over 50 individual properties, totaling 5.6 million square feet. Kearny was particularly successful in evaluating the underlying real estate in the portfolio, foreclosing on assets and rehabilitating and repositioning the real estate.

Kearny also developed sophisticated reporting and management systems to ensure that cash was immediately captured and properties received the highest quality oversight.

 
 
   


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