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Chemical Bank initiates '800' number for REOs.

Chemical Bank's Real Estate Finance Group has established a special REO Sales Center equipped with a toilfree "800" number to facilitate the sale of its portfolio of owned commercial real estate assets. John T. Sawyers, vice president, has been named to oversee operations.

For example, investors who have interest in purchasing shopping centers in Florida or apartment buildings in the Midwest will be shown properties that fit these categories. Assets for sale include all forms of commercial real estate as well as blocs of residential cooperative and condominium apartments.

The Sales Center is also proactive in matching new product to investors. As assets flow into the real-estate-owned category, qualified investors receive periodic updates about new REO properties that fit their investment criteria. In this way, Chemical's trained sales officers are able to control the flow of information and insure that investors hear about new properties.
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Title Annotation:creates Real Estate Owned Sales Center
Publication:Real Estate Weekly
Date:Apr 28, 1993
Words:145
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