Lavista Associates Reports Sales of 36 Commercial REO Properties in 2010 That Total More Than $24 Million

ATLANTA, Ga. --- Lavista Associates, one of Atlanta’s leading commercial real estate companies, reports it sold 36 commercial REO properties in 2010 with 10 of those sold in the month of December alone.

Tom Davenport, president of Lavista Associates, Inc. said proceeds from sales of REO properties in 2010 totaled more than $24 million.

Lavista Associates represented 11 banks and lending institutions in the sales, Davenport said.

Commercial REO assets sold in 2010 included 20 office buildings, two office condominium projects, seven retail strip centers, one convenience store, five industrial properties, and one self-storage facility.

Lavista Associates is currently responsible for the marketing of 54 REO properties representing eight financial institutions. The firm is currently engaged in the marketing, sales and management of 37 office condominium projects.

“Our REO work saw substantial growth in 2010 and we expect that trend to continue in 2011,” Davenport said.

Lavista Associates recently added three major REO clients---First Citizens Bank, BB&T, which awarded assignments to Lavista Associates in the fourth quarter of 2010, and Ameris Bank, which selected Lavista Associates in December.
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For more information contact: Tom Davenport, President, Lavista Associates, Inc. 770-448-6400; tdavenport@lavista.com; Kimberly Steele, Director of Marketing & Administration, Lavista Associates, Inc. 770-729-2824; ksteele@lavista.com; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

About Lavista Associates, Inc.: Serving Atlanta for over 38 years, Lavista Associates, Inc. is one of metro Atlanta’s leading commercial real estate companies, representing clients in the sale and leasing of a broad spectrum of commercial, industrial, office and retail properties. The firm’s goal is excellence of service to its clients resulting in the highest value for their real estate holdings.