Argus Software hosts the "ADAPT" Forum in New York City

Over 70 commercial real estate professionals recently participated either in-person at the Warwick Hotel or online in the Argus Software "ADAPT" Forum. ADAPT, which stands for "Argus Distressed Asset Program & Technology," was started in response to the market frustration in understanding how to work within the newly created distressed asset market. The group, which is being facilitated online by LinkedIn and CREOpoint, has grown to a level of participation that now includes an estimated 300 CRE professionals. While many special practices and new firms have sprouted up to address the needs of distressed assets in the various commercial real estate sectors, the ADAPT group is a collaborative, networking and industry solutions forum that is open to all. While the presentations at the first in-person ADAPT meeting ranged from topics such as the difficulty in getting servicers to the table in loan workout scenarios to the different approaches insurance companies and banks are taking toward distressed assets in their debt portfolios; the largest opportunity to arise from the meeting was a discussion about collectively amassing banks, insurance companies and other potential sellers of distressed assets and creating matches with potential buyers using the Argus Transaction Zone powered by RIISnet. Jeff Smith, CEO of RIISnet and Mark Polon, president of RIISnet, each in turn interacted with forum attendees in designing how such an initiative would work. Some of the key benefits of such a program, according to the forum attendees, are that banks and others would have a venue to anonymously market their distressed assets; while a far greater array of buyers would have the opportunity to purchase said assets. During the course of the forum, the group determined several next steps including: * Free Argus Zone/Argus Transaction Zone accounts for those who don't have them. * Workgroups to continue this collaborative development effort, including your feedback on issues and improvements. * Webinars to educate everyone who is interested in mastering the new tools of supply and demand alignment and analysis. To find out more about ADAPT or to join there are two options. Either create a LinkedIn account, connect to Mark Kingston, and join the Argus Distressed Asset group or go to www.creopoint.com and join this group, where additional updates about this process will be available.