RADCO opens N.Y. office to be directed by Raved

The RADCO Cos. has expanded its operations with the opening of a New York office, according to Norman Radow, EO of The RADCO Cos. RADCO is among the nation's most active developers working on behalf of first mortgage lenders, mezzanine and equity funds in the workout and completion of distressed residential projects. James Raved will direct the office as senior VP. Most recently he served as senior VP of Tishman Construction Corp. He was previously a managing director at Bear, Stearns & Co. Inc. where he served as chief council for real estate and construction and played a key role in the successful development of the company's 1.2 million s/f U.S. headquarters at 383 Madison Ave. and its 300,000 s/f U.K. headquarters at 5 Churchill Pl. in London's Canary Wharf. Raved was responsible for all the legal aspects of these developments from complex leases, contracts for design and construction, negotiation of air rights and economic incentives to installation of FF&E, and property management. A licensed attorney, Raved practiced real estate and construction law at Goetz Fitzpatrick LLP where he drafted and negotiated a $265 million design/build contract for a new Las Vegas hotel and casino. Prior, he practiced construction and surety law at Postner & Rubin PC. Raved holds a law degree from Benjamin N. Cardozo School of Law and a bachelor's degree from Hartwick College. He served as chairman of the construction law committee of The Association of the Bar of the city from 2000 to 2003. Radow said that Raved is the ideal executive to head RADCO's New York office, "Our assignments take us all over the country and our continued growth calls for expert hands-on management of every project on behalf of our clients. With the leadership of James Raved, our new office in Manhattan puts RADCO in a prime position to successfully complete our clients' developments - from the workout to construction, defending legal claims affecting value, marketing, sales or leasing." RADCO, recognized for its proven results in project completion and return of investment on behalf of major institutional lenders and equity partners, has already taken its first condominium development assignment in the city. Radow said the company will continue to build its residential practice and also move into the commercial/office market with soon-to-be-announced expansion of the company's resources. "In today's environment, lenders and equity partners recognize the importance of taking a more active role in the execution of the business plan for their assets. RADCO has the experience and expertise to help our clients develop, manage and successfully carry out strategies that meet their requirements," Radow said. Raved said he looks forward to contributing to RADCO's continued growth by helping the company's clients create and salvage value from their distressed assets. "RADCO has been doing this work since long before the current downturn and it has a proven track record of success," he said. "I'm excited to work with Norman Radow and his team to build on the company's already solid reputation for delivering value in a challenging environment and putting my background and experience to work for this excellent company." "A New York office will allow us to continue to service our clients with properties in the northeast by ensuring our ability to stay on top of every detail of each project," Radow said. "There are complex and time sensitive issues that need to be tackled every day and I am pleased to be able to rely on James for his on-the-ground, daily focus on the assignments that RADCO is entrusted with." For more information about RADCO, please visit: www.radcodevelopmentsolutions.com.