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Introduction to Crown Capital
Crown Capital is a Texas Limited Liability Company formed by James Murr. As the American banking industry has become stressed due to “toxic” and distressed real estate notes and assets, opportunities have developed for investors as banks try to divest themselves of their real estate related assets. Crown is a team of professional partners and advisors with expertise to address the unique complexities in purchasing these assets. The Crown Capital management team bios are attached. Additionally, Crown has support staff and relationships with brokers and outside management companies to assist in the asset management.
Investment Focus
During this economic downturn, banks are resorting to fast pace auctions to sell large amounts of loans that are in default. This provides the opportunity to buy heavily discounted notes secured by prime real estate. Our primary focus is on notes secured by real estate in Texas. The Texas economy and real estate have weathered the economic downturn much better than many parts of the country; however the national banks have made global decisions to sell real estate assets, regardless of location or regional economic factors, giving investors a market sector advantage for real estate dispositions located in Texas.
Many investors are currently unwilling or unprepared to take advantage of the opportunities to purchase distressed notes for a variety of reasons. Most investors are set up to acquire, manage, and sell real estate, but not distressed notes. Large investor pools often have investment parameters for their pools that only include acquisition of real estate, and often only income producing real estate with some stability of cash flow. Many investors lack the expertise to address distressed notes. Many large investor pools are risk averse and need to wait for a more defined, national economic recovery in order to justify investing capital from their investors. Many other investors are looking for great deals in the market place by developing relationships with real estate brokers and scouring the foreclosure sales, but are unaware of, or are unable to address the barriers to, purchasing distressed notes through bank auctions held outside the foreclosure process. As a result, there is a much smaller sector of investors who have sought access to buying distressed real estate secured notes through bank auctions. This is what we do. These assets are available at heavy discounts and are never seen by the general public or mainstream investors, providing greater opportunities for investors prepared to acquire these assets.
Company Structure and Bios
James Murr, Managing Partner, is an experienced real estate executive with 11 years of leadership and investment management experience. As the managing partner of Crown, Mr. Murr will be responsible for the implementation of the company’s business and investment strategies. Mr. Murr will oversee these duties on a daily basis:
- Identification of new investments
- Investment management
- Management of project service providers such as outsourced management and brokerage, accounting, and project staffing
- Capitalization of all investments
- Investor relations
Prior to forming Crown Capital Company, Mr. Murr helped start the largest commercial development, brokerage, and management company in Bryan/College Station, TX. His hands on participation in retail, hospitality, multifamily, office, industrial and land development projects gave him the ability to assess real estate investments in all genres of real estate. Mr. Murr started his own real estate company in 2008 and quickly identified this opportunity in distressed notes in 2009. After identifying this niche of investment vehicle, Mr. Murr put together a team of professionals in all areas needed to service these unique and complex investments.
Steve Strong, Advisor and proposed partner in any partnership arrangement, has a long history of success working with distressed notes in the banking industry. In nine years of private legal practice and fifteen years as legal counsel for financial institutions, Mr. Strong has broad experience with highly complex and varied workout and lending transactions. Additionally, as the Manager of the Legal Department of First American Bank for ten years, Mr. Strong has extensive experience in management decisions and administrative matters. Mr. Strong will advise as to every aspect of the loan workout and potential foreclosure process:
- Investment analysis
- Loan document review
- Assessment of borrower capabilities and intentions
- Determination of most suitable action for each note
- Manage legal actions necessary
- Manage foreclosure proceedings
Previously serving as the head of the Legal Department in charge of all legal affairs of a $3.5 Billion bank, and as Of Counsel in the Financial Institutions section of the Winstead law firm, has given Mr. Strong the ability to handle any complexity our investments may incur. His experience has given him in-depth insight into the banking industry and distressed note workouts, and he has joined our group to capitalize on the private sector’s opportunity in this distressed market.
Jeff Brown, Partner, is an attorney, financial officer, accomplished venture capitalist and business leader. With 23 years of experience in finance, business development, strategic planning, and legal counseling, Mr. Brown brings a diverse perspective and a track record of business success to Crown Capital Company. Mr. Brown will advise all financial and legal concerns of the company at a global level.
- Investor/entity accounting and reporting
- Negotiation of business terms and joint venture, purchase and sale, and financing agreements
- Management of all legal contracts and agreements
- Insurance and business protection
Mr. Brown’s distinguished career has most recently led him to be Chief Financial Officer for The Melrose Company and Executive Vice President of Strategy and Business Development and General Counsel for Aptiv Digital, Inc. Mr. Brown has taken a lead role in and completed the mergers and acquisitions of both public and private companies valued in excess of $5 billion. He has managed and led capital investments in more than a dozen companies with combined value of more than $100 million.
Fran Murr, Hospitality Partner, owns Hotel Accounting Solutions and actively manages the accounting for 26+ hotels throughout the United States. Her company provides detailed daily accounting and financial review for out hotel investment opportunities. Hospitality investments are more demanding and complex due to the business component of hotel operations, and Mrs. Murr’s involvement will include:
- Analysis of hospitality investments
- Accounting for hospitality investments
- Oversight of our hotel portfolio
Mrs. Murr was previously the CFO of a property management and hotel development company, and became a certified hospitality accounting specialist. She has provided hotel accounting consulting for over 100 hotels and currently maintains the monthly accounting operations on an outsourced basis for 26 properties.
Carma Kubu, Director of Accounting, has an extensive background in accounting. Carma owned and operated a full-charge bookkeeping service for eleven years in South Carolina where she maintained GL, AP, AR, INV, JC, PR and all PR tax forms, quarterly reports and year-end compilation and maintained financial statements for a variety of clients and businesses. She has also worked as a Real Estate Paralegal closing purchases, refinances and sales of real estate properties. For six years while living on Hilton Head Island, SC , she was Accounting Supervisor for Melrose Holdings Company for which she maintained accounting for four developments including GL and JC ledgers and generated monthly summary and detailed financial statements. Ms. Kubu currently works in Crown’s office in Bryan, TX, and performs accounting services for Roserock Capital Group as well as Crown Capital Company. |
