Expert Experience

With more than 20 years in the commercial real estate lending business, Real Estate Recovery Services Founder Tim Patrick has a wealth of experience in real estate loan workouts, asset management and asset recovery.

Before launching his business, Patrick spent 10 years at Seattle-based HomeStreet Bank as Vice President and Manager of Construction and Portfolio Lending. Previously, Patrick worked at Union Bank of California and Security Pacific Bank, where he handled $2.2 billion in loan commitments and successfully resolved $300 million of troubled commercial real estate loans.

Patrick’s areas of expertise include managing loan workouts and liquidating real estate owned (REO) properties. He has managed and liquidated more than 100 different properties for lenders, including warehouses, office buildings, neighborhood retail properties, multifamily projects, a golf course, single-family lots, condominiums and houses. He oversaw the completion, lease-up and sale of an incomplete super regional mall with a loan of $112 million for rehabilitation and expansion. The mall was sold to satisfy the debt.

Real estate Recovery Services works with banks, non-bank lenders, developers and borrowers. The firm’s goal is to provide cost effective, goal-oriented receivership services.