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RONALD GREENSPAN APPOINTED TO RTC 'SWAT'; PRICE WATERHOUSE EXPANDS WESTERN REGION REAL ESTATE WORKOUT SERVICES

 RONALD GREENSPAN APPOINTED TO RTC 'SWAT'; PRICE WATERHOUSE
 EXPANDS WESTERN REGION REAL ESTATE WORKOUT SERVICES
 LOS ANGELES, May 5 /PRNewswire/ -- Ronald Greenspan, director of workouts and restructurings for Price Waterhouse's Western Region Real Estate Group, has been appointed to the Resolution Trust Corp.'s newly formed Settlement and Workout Asset Team (SWAT).
 SWAT was created to speed up the RTC's processing of complex defaulted loans, credit relationships and defensive litigation, Greenspan said. Representing Price Waterhouse, Greenspan serves as the real estate and business adviser for the committee. Each region's SWAT consists of two senior RTC personnel, one outside legal consultant and one business advisor.
 In the first three months of SWAT's existence, the team has addressed more than $2 billion worth of troubled credits, ranging from developers with cross-defaulted commercial and residential properties, to entire master-planned communities in default, to multilocation resort proprietorships, to the multimillion-dollar subordinated debt of a large non-profit institution.
 Greenspan joined Price Waterhouse in 1991 to augment the firm's capabilities in the area of analysis and resolution of complex, troubled assets.
 He has more than 12 years of experience in a broad range of real estate consulting activities, including analyzing, structuring and implementing loan modification and workout agreements, structuring and negotiating real estate acquisitions, loan securitization and sale in the secondary market and litigation support.
 Greenspan began his professional career in the real estate and financial institution department of the Los Angeles office of a major New York law firm. Later, he assumed the helm of a nationwide real estate investment company that specialized in "turn-arOund" and "value- added" real estate opportunities. Following changes in the real estate investment market, Greenspan became executive vice president of a Southern California savings and loan. In this position, he was responsible for the development and sale of the institution's $120 million real estate portfolio and the structuring and negotiation of the institution's extensive joint venture and participating loan portfolio. After successfully developing and restructuring the institution's portfolio, he became the principal manager of a diversified commercial real estate development, construction and brokerage firm.
 Greenspan earned a bachelor of arts degree summa cum laude in economics from the University of California, Los Angeles, and graduated magna cum laude from Harvard Law School.
 Price Waterhouse is a leading worldwide professional organization of accountants, business and tax advisers and information technology consultants. Through a global network of firms practicing in 450 offices in 110 countries and territories, Price Waterhouse professionals provide advisory services to businesses, individuals, non- profit organizations and government entities. The U.S. firm, with 13,000 professionals in more than 100 offices, is part of the worldwide organization.
 -0- 5/5/92
 /CONTACT: Gregory F. Romano or Scott R. Heath of Berkhemer Kline Golin/Harris, 213-623-4200, for Price Waterhouse/ CO: Price Waterhouse ST: California IN: FIN SU: PER


JL-KJ -- LA049 -- 6697 05/05/92 15:27 EDT
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Publication:PR Newswire
Date:May 5, 1992
Words:478
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