News

Fostering Junior Achievement

April 2013

Resolute Commercial Services, a leading integrated commercial workout firm whose services include receivership, corporate renewal, litigation support and distressed asset consulting, believes in nurturing the entrepreneurial spirit while ensuring responsibility and accountability at every turn.

It is no surprise then, that since launching in 2008, the Resolute team has helped take care of the projects and the people behind two million square feet of retail space, 500,000 square feet of office space, 2,000 apartment units, 600 hotel rooms, 35 gas stations/car washes and numerous stand alone businesses in Arizona and beyond.

But the firm's leaders don't limit themselves to solely nurturing those already involved in business - not by 4 longshot.

"We believe our community's young people truly want to learn how to apply responsible entrepreneurial thinking to their lives well before entering the workforce, “states Jeremiah Foster, principal and co-founder of Resolute. “That's why we are dedicated to Junior Achievement, where we can teach the younger generation firsthand how to understand the economy we live in and their place in it.”

"In 1975, the organization entered the classroom with the introduction of Project Business for the middle school grades,” explains Foster. "This program was a game changer and a clear response to the concerns of many business leaders who felt our youth were not being taught how the American economic system worked.”

Since entering the classroom, JAAZ has dramatically expanded its activities and broadened its scope to include in-school and afterschool students in grades K-12.  In addition, its experiential  programs, JA BizTown and JA Finance Park'', have been wildly successful at reinforcing students social studies, language arts, math and workplace skills by giving them real-life application in simulated cities outside of the classroom setting.

Junior Achievement of Arizona (JAAZ) is a non-profit organization headquartered in Tempe that has been educating K-12 students about entrepreneurship, work readiness and financial literacy since 1957.

As a result, in 2013 alone, JAAZ will engage more than 90,000 students statewide.

Foster, who has volunteered it, the classroom on behalf of JAAZ as well as given time as a mentor for both the Resolute team and colleagues, is proud to today serve as the board chair for the organization, leading is governance and policy strategies.

But it's not all business. We have plenty of time on the board to be a part of the interactive programs with the kids, nor not to mention supporting some great JAAZ fundraisers, too.” states Foster.
One of the most successful interactive programs in recent weeks was the 5th  Annual JA You're Hired! Challenge, which brought more Than 350 students from hit Arizona high schools together on March 27, for a series of workshops and competitions focused on:

• Job aptitude and competence
• Business networking
• Entrepreneurship
• Essential work-readiness skills

In addition, hiring managers from more than 50 Arizona companies -  including those from financial, education. technology, nonprofit, retail and business sectors, among others - were on site to talk with students throughout the day, some offering summer internships.

On the fundraiser side. JAAZ is proud to announce that the 16th Annual Junior Achievement Women's Golf Classic, which has been tiled as the premier 'novice-golfer friendly' women's networking event in the Valley, is set for April 22.

“Space is still available for players and sponsors to join this amazing group of top Valley businesswomen and community leaders for a fun-filled day at McCormick Ranch Golf Club," states Foster.  “Both breakfast and lunch are included as a part of the tournament, as well as on-course champagne, massages, cocktails, raffles, and lux silent and live auction items.”

Resolute Commercial Services Appointed Receiver of Americana Hotel

April 2013

Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed receiver of the Americana Hotel, 639 N. Grand Ave. in Nogales. After inspection, Resolute began initial work on issues surrounding the condition of the property. In addition, efforts were focused on property and operational concerns including management oversight, staff development, hotel marketing and financial management. The property requires a variety of overall improvements as well as new management techniques and a new marketing plan to help increase hotel revenue. Once issues are remediated, Resolute will be in charge of the selling the assets.

Loan Modification May Be Option if Loan Is Current

April 2013

As the economy slowly turns itself around for many, small businesses that have been hanging on even if struggling may have more financing options available to them than they’re aware of. For a business to be able to get any concessions from a bank, however, it’s imperative that it start talking to the bank before getting behind in payments on its business loans. That goes against instinct for many entrepreneurs, who may feel they’ll turn the corner if they funnel their resources toward paying vendors for supplies to keep the business going, believing they’ll then be able to pay their business loan, observes Joan Brubacher, CFO of Resolute Commercial Services, who has seen many small businesses take this approach and get in a hole they couldn’t dig themselves out of. “Once you’ve gotten to the point where you’re not making payments, you have severely limited your ability to come up with creative solutions to manage the problem,” she says.

Banks’ operations depend on their capital ratio, which is impacted by the health of their loan portfolios. Under the Dodd- Frank Act, once a debt has been classified a troubled loan — which is what a couple of missed loan payments will create — even the slightest loan modification must be reported to regulators. It then becomes an item considered in calculating a bank’s efficiencies. Banks are, therefore, loathe to have troubled debt restructurings (TDRs) to report. But Brubacher notes that options banks can’t offer after a business’s loan has been classified a TDR they have the flexibility to offer before it gets to that point, such as extending the loan, allowing interest-only payments for a period of time and reducing the interest rate. —RaeAnne Marsh

CORPORATE RENEWAL YEAR’S RESOLUTIONS

January 2013

In 2013, thousands of entrepreneurs will take critical steps in converting their troubled businesses into manageable new opportunities via corporate renewal. Understanding that times, technologies and customers change, savvy business owners with successful companies will also invest in corporate renewal in the coming year.

Simply put – corporate renewal gives businesses an action plan to evolve and change with the times while keeping doors open, debt minimized and – if needed – creditors at bay. In developing the plan, often an outside advisor will oversee the process and serve as a go-between among all parties, as well as act as an impartial outside voice.

Fueled for Success

December 2012

Joan brubacher is a gas. Well, she knows gas — and how to account for it. “Growing up in Kansas, my dad was a fuel distributor,” said brubacher, chief financial officer for Resolute Commercial Services, a Scottsdale-based receivership and corporate renewal firm. “he also loved math, just like me.”

At only 14, number-loving brubacher was working as her father’s bookkeeper. by college, the self-proclaimed tech geek would choose to crunch numbers for life, earning an accounting degree from Kansas State University.

Recruited by Ernst & Whinney (now Ernst & Young) out of college, gas would continue to drive brubacher: One of her first audit clients was a convenience store and fuel distributor.

And it wouldn’t be her last.

After putting in her time with the big Four — and getting married — brubacher joined her father in the family business as its CFO.

“My father, husband and I decided to grow the business together,” brubacher said. “In less than a decade, we grew from one to 19 locations statewide.”

Jeremiah Foster Named Board Chair for Junior Achievement of Arizona

October 2012

Jeremiah Foster, principal and founder of Resolute Commercial Services, has been named board chair for Junior Achievement of Arizona. As board chair, he will oversee the 48-member board of directors and lead the organization’s governance and policy strategies.

In addition to his involvement with JA, Foster, a Scottsdale resident, is active in the community through his involvement with Scottsdale Public Art Advisory Board, Arizona Town Hall, Urban Land Institute, Turnaround Management Association and Entrepreneur’s Organization (EO).

Foster holds a Bachelor of Science degree in engineering from the University of Arizona.

Resolute Commercial Services Appointed Receiver Of Lake Pleasant Heights Property

August 2012

Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed receiver of the Lake Pleasant Heights Property in Peoria.

Resolute will assist in the re-working of the Master Planned Development with the city of Peoria. The firm will also develop a water solution and transportation plan for the property. Once property development is underway, Resolute will be in charge of selling the assets to benefit the estate.

Resolute Commercial Services Appointed Receiver of Fountain Park Mobile Home Park Property

July 2012

Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed receiver of the Fountain Park Mobile Home Park, which is located at 261 & 381 North Fifth Drive in Show Low, Ariz.

After inspection, Resolute began work on major structural maintenance as well as health and safety repairs. The firm will also manage the property concerns of park tenants.

Resolute Commercial Services Expands to Northwestern Arizona

July 2012

Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has recently expanded into Northwestern Arizona, being appointed the receiver for property locations in Kingman and Bullhead City, Ariz., respectively.

In Kingman, Resolute has been appointed receiver of Kingman Place Apartments, a 25-unit apartment complex located at the northeast corner of Fort Beale Drive and Betty Lane. In Bullhead City, Resolute was also appointed receiver of Stoneridge Apartments, a 52-unit complex located on the northeast corner of Mohave Valley Highway and Central Avenue. The firm is currently working on correcting property management issues with both properties.

Ron Stone as Senior Managing Director

May 2012

Stone brings nearly two decades of experience in capital structuring, acquisition, underwriting, business modeling, entrepreneurial start-ups and on-going operational management to the firm. Prior to joining Resolute, he acted as chief financial officer of a boutique private equity firm. He has also been a partner in a homebuilding company and a national capital firm, respectively.

He holds a Bachelor of Science degree in Business Administration with an emphasis in Finance from the University of Southern California. Stone is a resident of Scottsdale.

Richard Winterich as Senior Managing Director

May 2012

Winterich brings more than 35 years of experience to the firm in the areas of mergers and acquisitions, receivership, debt restructuring, financial advisory services, strategic planning, cash flow management and expense control. Prior to joining Resolute, Winterich was chief financial officer and chief operating officer of Ensynch, a Microsoft Gold Partner recently acquired by Insight Technologies. He also held similar positions at Horizon Services, Mobility Electronics and Square D Corporation.

A Peoria resident, he holds a Bachelor of Science degree in Accounting from Baldwin-Wallace College.

Resolute Commercial Properties retained to sell the assets of Phoenix-based Bill Johnson’s Big Apple

April 2012

Pursuant to an Order of United States Bankruptcy Court for the District of Arizona, entered on
March 7, 2012, Resolute Commercial Properties is accepting bids for the purchase of the assets
of Bill Johnson’s Restaurants, Inc. (“BJRI”). The Order authorizes the sale of all of BJRI’s real
and personal property, including but not limited, to:

• Real Property
• Fixtures
• Furniture
• Equipment
• Inventory
• “Bill Johnsons Big Apple” Trade Name & Goodwill

BJRI employs approximately 225 people.

The deadline to submit bids is June 8, 2012.

Prospective bidders must register and execute the Confidentially Agreement prior to receiving
access to the electronic due diligence materials. For more information regarding qualification
and bidding process, please contact John Mitchell at (480) 947-3192.

Resolute Commercial Properties is a related company of Resolute Commercial Services.

Resolute Commercial Services Appointed Receiver of Sunset Plaza

January 2012

Resolute Commercial Services, an Arizona-based receivership/business consulting firm that expanded its business into Nevada in 2011, has been appointed receiver of the Sunset Plaza, an 8.903-square-foot retail center located at 1351 West Sunset Road in Henderson, Nev. The firm will also provide asset management guidance and will assist in resolving inherent property issues.

“The property requires a variety of overall improvements as well as signage to help direct visitors, especially given its potentially high traffic location near Sunset Casino and Sunset Mall,” said John Mitchell, co-principal of Resolute Commercial Services.

The firm has already successfully renegotiated two leases to recover aged balances and stabilized the rent roll for the longer term at 80% occupancy while recruiting a national credit tenant to expand and extend their tenancy. They also hired Grubb and Ellis to help proactively market the property, focusing on 100% occupancy.

Resolute Commercial Services Appointed Receiver of Butterfield Plaza

January 2012

Resolute Commercial Services, an Arizona-based receivership/business consulting firm, has been appointed receiver of the Butterfield Plaza, a 91,713-square-foot retail center in Benson, Ariz., located on the southeast corner of 4th Street and Cholla Avenue.

“Upon appointment, we found the center in average condition and are currently working on structural and accounting issues as well overall property condition improvement,” said John Mitchell, co-principal of Resolute Commercial Services.

Specifically, the firm is working on major construction defect issues such as the deterioration of the foundation; underlying settlement issues; and the repair of the overall condition of the property while addressing tenant concerns and ensuring all businesses within the center remain operational.

Resolute has been appointed receiver of the Bonita Plaza

December 2011

Resolute Commercial Services, a Scottsdale-based receivership/business consulting firm that recently expanded its business into Nevada, has been appointed receiver of the Bonita Plaza, a 28,407-square-foot retail center located at 3300-3310 South Jones Blvd. in Las Vegas. The firm will also provide asset management guidance and will assist in resolving inherent property issues.

“The property requires a variety of improvements in addition to securing leases from existing and new tenants,” said John Mitchell, co-principal of Resolute Commercial Services.

Resolute Commercial Services was founded in 2008 by Jeremiah Foster and John Mitchell and expanded into Nevada as well as California in 2011.

With a strong presence in Arizona, Texas and in Florida, the expansion into California and Nevada was a natural progression.

“PEOPLE TO KNOW IN COMMERCIAL REAL ESTATE”

December 2011

Resolute Commercial Services, a Scottsdale-based receivership/business consulting firm, is pleased to announce co-founder Jeremiah Foster was among the honorees at the 2011“People to Know in Commercial Real Estate” Awards, which was hosted by AZRE Magazine and took place November 10, 2011 at the Scottsdale Waterfront. Foster will also be recognized in Arizona Big Media’s annual “People to Know in Commercial Real Estate” resource guide as part of the honor.

Foster, a Scottsdale resident, was honored in the category of “Broker.” Other categories include Architects, Engineers, Attorneys, City Planners, Developers, Investors, Finance, Accounting, Contractors, and Up-and-Comers. Foster’s past honors include being named Real Estate Development “RED Award” for Rookie of the Year in the late-2000s.

Resolute Celebrates Third Anniversary

July 2011

Resolute Commercial Services, a Scottsdale-based receivership/business consulting firm has recently expanded into Southern California and Nevada.

Targeting lenders, bankruptcy counsel, developers, investors and operators, the company specializes in delivering constructive solutions to complicated real estate matters including receiverships, workout strategies, property management, development and asset acquisition/disposition.

In California, RCS has been appointed receiver on the 1,000 unit, 89,000-square-foot Caliente Springs mini-storage facility. Upon takeover, RCS performed financial and operations analyses and determined that the business is viable and that the company will do what it can to ensure Caliente Springs continues operation.

RCS was appointed receiver on the Bonita Plaza retail center in Las Vegas. The property requires a variety of improvements in addition to securing leases from existing and new tenants. RCS has assumed management responsibilities for this property.

Jerry Foster - Executive Profile

June 2011

Jerry Foster left the familiarity of the East Coast to study at the University of Arizona. "I had been an East Coast kid all my life, and I had an itch to see new things," he said. He liked the desert and stayed in Arizona after graduating in 1995. "I started parking cars at the Phoenician, much to the dismay of my mother," he said. We the summer heat set in, however, he found an indoor job working as an engineer for a startup at the Scottsdale Airpark. "I was a horrible engineer. It was not my passion, " he recalled. He worked in tech sales for a while, but the frequent travel didn't sit well with his then-fiance. So, he started his own business, but restlessness set in after a few years.

Receiver Firm is Kept Busy

October 2010

When John Mitchell started his receiver firm Resolute Commercial Services with Jeremiah Foster in 2008, they knew that business would increase as the the economy declined.

Receiver firms like RCS act as third parties, called in by the court to take over assets during litigation.

Since its start, the Scottsdale firm has been the third-party negotiator in more that 50 commercial foreclosure cases, often bringing solutions that satisfy both lender and Business owner.

"The first thing that slows down is home development, and we started to see the cracks in the economy at that level," Mitchell said, recalling the initial discussions about starting RSC with Foster in 2007. "We saw it was going to transcend all genres in real estate. Homes were first, then commercial followed."

Resolute Commercial Services Taps Wyche for TX Office

August 2010

DALLAS-Resolute Commercial Services has expanded into Texas, opening an office here and tapping industry veteran Roger Wyche to head it as senior managing director.

The Scottsdale, AZ-based company works with lenders, bankruptcy counsel, developers, investors and operators to provide receivership servicers, workout strategies, property management, development and asset acquisition/disposition.

Wyche is an 18-year veteran of the commercial real estate industry. Most recently, he worked at Beal Bank as a team leader that handled due diligence and underwriting for FDIC loan pools. He was previously employed by Goldman Sachs and has been involved in various capacities including broker, CMBS lender and underwriter of CMBS B-Piece bonds.

A New Lease. Tenants, Receivers Benefit from Retail-Center Forclosures

April 2010

In metro Phoenix's under-occupied, financially stressed shopping centers, the remaining tenants face yet another challenge.

Besides their own financial woes linked to the worst recession in decades, they often have to cope with their landlord's problems.

Rising vacancies and declining values prompted many landlords to postpone improvements, cut back on maintenance and scrap marketing plans aimed at drawing traffic to the developments.

Winco Scouts for Warehouse-Grocery Sites

February 2010

A new grocer looking at the Phoenix area could ratchet up already red-hot competition in what is thought to be America's most competitive grocery market.

Winco Foods, an Idaho-based discount grocery chain, has been scouting the area for sites for four to five warehouse-style food stores.

The employee-owned company is said to have inked a deal for a former Walmart location at Third Avenue and Bell Road in Phoenix for its first store, although Vice President Mike Read would neither confirm nor deny the location. He acknowledged, though, that the company was interested in the Phoenix area as an expansion market.

Resolute Commercial Services Announces Joseph Armbrust as Senior Managing Director

December 2009

Joseph Armbrust has been named Senior Managing Director for Hospitality, Food and Beverage at Scottsdale-based Resolute Commercial Services.

In this role, Armbrust will ascertain the issues related to staffing, internal controls, refurbishment, business/marketing plans, budgeting, and improvement of overall operating income of clients in the hospitality industry.

Armbrust brings more than 30 years of executive level hospitality management experience to the Resolute Commercial Services team. His career includes expertise in multi-property management, franchise operations, turn-arounds, conversions, property refurbishments, and management consulting. He has experience with everything from full-service convention hotels to limited service properties.

20 Minutes with Jeremiah Foster

December 2009

How have you changed your business strategy to reflect current economic conditions?
I was involved in selling commercial land at another firm when I realized in 2007 that the real estate bubble was going to burst. I created Resolute to turn the ship into a wave.

What resources did you use to help develop your business and marketing plans?
Experience–thankfully, my business partner is an "old pro" with 18 years in the workout business.

How do you use technology to promote your business?
We use an internal Web site and wiki applications to help us track ideas, manage projects and organize customer databases. We also have also shifted our marketing focus to be heavily focused on electronic means.

Resolute Commercial Services Announces Teresa Nguyen as Director of Property Management

November 2009

Resolute Commercial Services announces Teresa Nguyen as Director of Property Management.

Targeting lenders, bankruptcy counsel, developers, investors and operators, the Scottsdale-based company specializes in delivering constructive solutions to complicated real estate matters including receiverships, workout strategies, property management, development and asset acquisition/disposition.

In her role, Nguyen is responsible for the property management of the firm’s commercial retail portfolio. She brings more than 10 years of real estate experience in both residential and commercial properties. She also has experience in the escrow industry serving as the branch manager for Netco Title in Tempe, AZ where she oversaw daily operations and improved previous national audit scores by 5% within an eight-month period by implementing internal workflow audits and meeting funding deadlines.

Resolute Commercial Services Announces Joan Brubacher as its Chief Financial Officer

October 2009

Joan Brubacher has been named (CFO) Chief Financial Officer at Scottsdale-based Resolute Commercial Services.

Brubacher brings more than 30 years of experience in finance and operations to Resolute Commercial Services. Her areas of expertise include strategic planning and organizational management; budgeting and cost management; contract negotiations and strategic alliances; cash flow management; capital acquisition and fund raising; mergers, acquisitions and divestitures; corporate and investment finance; investor relations; operations/supply chain management; and customer and supplier relationship management.

Crossroads at Tolleson - Owner Defaults on Loans

October 2009

The Crossroads @ Tolleson is the city's retail commercial jewel, but the 100,000-square-foot shopping center is in receivership as the property owner faces forclosure.

Tolleson 99th LLC, a Deleware company, defaulted on its $34 million load, failing to pay its monthly installments since January, according to the Arizona Superior Court documents.

Give & Get - Not volunteering can be hazardous to your health

September 2009

Did you know that improving someone else's life mary very well save yours?

It's true!

According to the recent study by a casual connection between giving back and one's overall health. In fact, researchers found that those who volunteer have lower martality rates, greater funtional ability, higher self-esteem, lower rates of depression, and higher overall wellness than those who do not volunteer.

Resolute Commercial Services Announces Sean McGraw as its Managing Director

August 2009

Resolute Commercial Services announces Sean McGraw as a Managing Director. Prior to joining Resolute, McGraw had his own company specializing in property development consulting and real estate project management.

Targeting lenders, bankruptcy counsel, developers, investors and operators, the Scottsdale-based company specializes in delivering constructive solutions to complicated real estate matters including receiverships, workout strategies, property management, development and asset acquisition/disposition.

In his role with Resolute Commercial Services, McGraw assists in the takeover and management of various real estate and receivership projects. McGraw's career started in 1994 after graduating with a degree in Architecture from the School of Design at North Carolina State University.

On the Move

August 2009

Spotlight: Michael Embry
New Position: Senior Managing director, Resolute Commercial Services

Openings

August 2009

Resolute Commercial Services, a Scottsdale, Ariz.-based real estat services company, opened a West Palm Beach location at 12300 S. Shore Blvd., Suite 210. Michael H. Nelson was appointed regional managing director.

Resolute Commercial Services Announces Opening of South Florida Office

August 2009

Resolute Commercial Services, a Scottsdale, Ariz.-based real estate services company, announces the opening of its newest location in West Palm Beach. Michael H. Nelson has been appointed regional managing director.

Targeting lenders, bankruptcy counsel, special servicers, investors and operators, the Resolute Commercial Services specializes in delivering constructive solutions to complicated real estate matters including receiverships, workout strategies, property management, development and asset acquisition/disposition.

Nelson is a 30-year veteran of the real estate and banking industries in Florida. Nelson was approved by both the State of Florida and Federal banking regulatory agencies to serve as president/ceo/coo for failed financial institutions in distressed real estate management, liquidations, servicing and restructuring. These projects were in excess of $600 million in residential portfolios, retail and commercial lands and buildings, and resort properties. Most recently, Nelson has been responsible for the restructuring, management and successful liquidation of an additional $200 million in Florida real estate.

“Recession cripples Southbridge retailers“

August 2009

“Recession cripples Southbridge retailers“ – Highlight on The Mix Shops a Resolute Receivership Asset
by Peter Corbett

They are the survivors, a handful if resilient retailers who endured a crippling economic collapse that took shape in late 2007 as the Mix shops at SouthBridge opened in downtown Scottsdale.

Merchants such as Amy Yount of Amy inc and others have outlasted Mix development partners Jennifer Croll and Peter Kleis, who lost ownership of the Mix buildings due to foreclosure earlier this year.

Career Ladder Interview with Jeremiah Foster

August 2009

by Allison Stanton

Who: Jeremiah Foster, 37 is a principal at Resolute Commercial Services LLC, a commercial real-estate and work-out services company based in Scottsdale. The company's mission is to provide solutions for complicated real-estate ventures. The company was founded in 2008.

Education: Graduated from the University of Arizona in 1995 with a bachelor's degree in engineering.

Starting point: Foster's first job was at 14 working as a busboy at a country club in West Palm Beach, Fla. He said the job helped him learn to anticipate the needs of customers and remember their like and dislikes.

“Remaining Mix Shops Tenants looking to better days“

July 2009

“Remaining Mix Shops Tenants looking to better days“ – Highlight on The Mix Shops a Resolute Receivership Asset
by Peter Corbett

They are the survivors, a handful if resilient retailers who endured a crippling economic collapse that took shape in late 2007 as the Mix shops at SouthBridge opened in downtown Scottsdale.

Merchants such as Amy Yount of Amy inc and others have outlasted Mix development partners Jennifer Croll and Peter Kleis, who lost ownership of the Mix buildings due to foreclosure earlier this year.

Resolute Commercial Services Announces Michael P. Embry as its Senior Managing Director

July 2009

Resolute Commercial Services announces Michael P. Embry as its senior managing director.

Targeting lenders, bankruptcy counsel, developers, investors and operators, the Scottsdale-based company specializes in delivering constructive solutions to complicated real estate matters including receiverships, workout strategies, property management, development and asset acquisition/disposition.

Embry brings nearly 40 years of experience in investment sales, marketing and development to the firm. He has overseen the development and management of over 15,000 units in single and multi-family projects in the Western United States with a total portfolio value in excess of $1billion. In his position with the firm, he is responsible for the oversight of development assignments, project and construction management. Embry’s experience transcends the current economic situation as he has been has been appointed as a Receiver on numerous residential real estate matters emerging from issues related to bank failures in the early 1990s.

Resolute adds Hotel and Hospitality Division

March 2009

Scottsdale, Arizona – Resolute Commercial Services (RCS), a specialized real estate and problem resolution firm, is proud to announce the addition of the Hotel and Hospitality Division to the company. Industry veteran Joseph Armbrust has been appointed to lead this new unit, which was created to secure property and develop strategy for this industry sector.

The addition of the RCS Hotel and Hospitality Division is in direct response to the company’s clients seeking a solid, viable partner in the Hotel and Hospitality Industry in the Southwestern United States.

As a Certified Hotel Administrator, a designation bestowed only to the field’s most successful general managers and top hospitality professionals, Mr. Armbrust brings thirty years of industry experience to RCS. An established professional in the Hotel and Hospitality Industry, Armbrust is a graduate of the Lewis Hotel School, board member of the Arizona State Hotel and Lodging Association, and past president of the Southern Arizona Lodging and Resort Association.

“As a company, we are pleased to offer this new offering and that Joseph will be overseeing RCS’s Hotel and Hospitality Division,” said Jeremiah Foster, RCS company principal. “Joseph will manage the day-to-day management of this division and his wealth of practical experience will greatly enhance our ability to serve our clients in the Hotel and Hospitality Industry.”

Before coming to RCS, Mr. Armbrust was the General Manager for the flagship property in the John Q. Hammonds portfolio where he managed all aspects of the hotel including 250 guest rooms, an atrium, swimming pools, and 15,000 square feet of meeting space. Additionally, Mr. Armbrust previously held senior level positions at the Windsor Capital Group, Phoenix Hospitality Associates, and Ramada, Inc.

ABOUT RESOLUTE COMMERICIAL SERVICES
Resolute Commercial Services is a specialized real estate and problem resolution firm headquartered in Scottsdale, Arizona. The company is passionate about serving the needs of its clients in the Southwestern United States. RCS was founded on the fundamental concept of delivering solutions to complicated real estate needs. Every engagement by Resolute is done through our ability to offer value added services like receiverships, work out strategies, asset/property management, development consulting and brokerage to clients that they become partners with. Clients include law firms, state and federal courts, financial institutions, special servicers, REITs and pension funds. The combined resume of Resolute includes 25 years of workout services, 40 years of first hand development, and over $500 Million of Commercial Real Estate Brokerage. For more information on Mr. Armbrust and Resolute Commercial Services, vist RCS’s website at http://www.resolutecommercial.com or call (480) 947-3321