McGladrey Performs Seller Due Diligence for $1.7 Billion
Structured Loan Sale
Chicago – September 2, 2010 – RSM McGladrey, Inc., a leading professional services firm operating under the McGladrey brand, recently announced the completion of the seller due diligence for a $1.7 billion structured sale. The due diligence project included detailed analyses of more than 200 loans and 100 real estate-owned assets across the United States. It also required verifying and organizing asset information and presenting in a concise manner to aide the due diligence process of investors.
“We’ve seen a steadily growing number of banks disposing of assets through structured loan sales over the past several months, particularly at the regional bank level,” said Jose Vivar, a real estate practice director at RSM McGladrey, Inc. “Organizations that work closely with a third-party partner for structured sales often realize quicker turnaround times. Since our team assembled a large set of complex data in such a short timeframe, our client was able to complete its transaction faster than anticipated.”
McGladrey assurance, tax and consulting services meet the diverse needs of clients in the real estate industry. We have provided transaction support services — including due diligence for sellers and buyers — to clients for more than 20 years.
McGladrey is the brand under which RSM McGladrey, Inc., and McGladrey & Pullen, LLP, serve clients’ business needs. Together, they rank as the fifth largest U.S. provider of assurance, tax and consulting services, with 7,000 professionals and associates in nearly 90 offices. The two firms operate as separate legal entities in an alternative practice structure. McGladrey & Pullen is a licensed CPA firm that provides assurance services. RSM McGladrey is a leading professional services firm providing tax and consulting services. Both firms are members of RSM International, the sixth largest global network of independent accounting, tax and consulting firms. For more information, visit the McGladrey website at www.mcgladrey.com, join our Facebook fan page at McGladrey News and/or follow us on Twitter @McGladrey.