ARS Acquires Assets in South Florida from Regional Bank

Austin, Texas — Asset Revitalization Solutions announced today it has acquired sub- performing commercial real estate loans in South Florida, raising the total amount of Florida investments to $32 million in assets. HUD-subsidized residential real estate and an industrial warehouse secured the loans.

Based in Austin, Texas, Asset Revitalization Solutions first began investing in Florida by acquiring $18 million in commercial real estate loans. Combined with the company’s initial acquisition, it also acquired $10 million in distressed loans in January 2012, expanding Florida investments to nearly $30 million.

“We continue to invest in Florida and pursue nonperforming loan portfolios in Florida because all of the fundamentals for our business are strong there,” said Cathy Vann, chief executive officer of ARS. “We can help banks with their balance sheet improvements, we have great people on the ground there, our key strategic partner Shay Financial is located there.”

Asset Revitalization Solutions was founded in 2009 by Jay McEntire, Cathy Vann and Jeff Price, who invested in underperforming and distressed commercial real estate loans, sourced both directly from banks and from secondary auctions by regional financial institutions, the FDIC, and special servicers. Over the past 20 years, the team has been involved in commercial real estate, investment banking, and the liquidation of more than $15 billion in distressed assets.

Asset Revitalization Solutions developed its expertise and earned its reputation investing and managing for global investment firms such as AIG, Goldman Sachs, Citicorp Securities and Credit Suisse. The team combines this experience with the high efficiency and high focus of a small investment group to maximize the return in distressed investing.

The company maintains offices in Austin, Texas, Monmouth Beach, N.J., and Miami, Fla. The firm is an affiliate of Miami-based Shay Investment Services, Inc., a thrift holding company founded in 1981 with subsidiaries engaged in commercial banking, institutional asset management and securities brokerage.

MEDIA CONTACTS:
Carol Cassil
501-664-5672 ext. 24
carol@thomathoma.com

John Mark Adkison
501-664-5672 ext. 14
johnmark@thomathoma.com