Fameco creates distressed asset group

Plymouth Meeting, Pa. Fameco Real Estate said Friday it has formed the Fameco Distressed Asset Group, focused on providing targeted brokerage and management services to owners of challenged retail properties.

According to Fameco, the new group will assist in repositioning, workouts, valuations and stabilization/maximization strategies for underperforming and/or distressed retail real estate assets and will offer its property management and third-party leasing to institutional clients and explore receivership opportunities.

Jonathan Rome, Fameco’s general counsel, will spearhead the effort.