Lavista Associates, Inc.

Lavista Associates, one of Atlanta's leading commercial real estate companies, reports it sold 36 commercial REO properties in 2010 with 10 of those sold in the month of December alone.

Tom Davenport, president of Lavista Associates, Inc. said proceeds from sales of REO properties in 2010 totaled more than $24 million.

Lavista Associates represented 11 banks and lending institutions in the sales, Davenport said.

Commercial REO assets sold in 2010 included 20 office buildings, two office condominium projects, seven retail strip centers, one convenience store, five industrial properties, and one self-storage facility.

Lavista Associates is currently responsible for the marketing of 54 REO properties representing eight financial institutions.  The firm is currently engaged in the marketing, sales and management of 37 office condominium projects.

“Our REO work saw substantial growth in 2010 and we expect that trend to continue in 2011,” Davenport said.

Lavista Associates recently added three major REO clients---First Citizens Bank and BB&T, which awarded assignments to Lavista Associates in the fourth quarter of 2010, and Ameris Bank, which selected Lavista Associates in December.