About Crown Northcorp

Expertise

Crown NorthCorp has managed over 35,000 assets in the US (valued at more than $16 billion) and over 100,000 assets overseas (valued at more than $41 billion). Crown NorthCorp was the largest asset management contractor for the Resolution Trust Corporation (RTC) in the early 1990s, growing to over 200 employees, and overseeing more than 25,000 assets for the RTC and the Federal Deposit Insurance Corporation. The establishment of RTC gave rise to the modern CMBS market and as a result of Crown NorthCorp’s asset management capabilities and sophisticated servicing systems developed while working with the RTC, Crown NorthCorp became one of the first rated servicers for CMBS in the US. The company also expanded to Europe in the 1990s and, under CEO Ronald Roark’s leadership, became the first servicer for RMBS and CMBS in Europe to be rated by all three major rating agencies. Crown NorthCorp partnered with leading real estate advisory firms, investment banks, and funds to invest in and manage real estate and asset-backed portfolios in Sweden, Finland, Belgium, Germany, and the UK.

Services

Since 1994, Crown NorthCorp has provided asset management services to partnerships, investment consortiums, financial institutions, and governmental entities, including:

  • fund and portfolio management,
  • mortgage banking and structured finance,
  • advice on asset acquisition and disposition,
  • due diligence reviews, and
  • development of portfolio strategies.

Services

Since 1994, Crown NorthCorp has provided asset management services to partnerships, investment consortiums, financial institutions, and governmental entities, including:

  • fund and portfolio management,
  • mortgage banking and structured finance,
  • advice on asset acquisition and disposition,
  • due diligence reviews, and
  • development of portfolio strategies.

Our History

2017

Refinancing Completed

Crown NorthCorp arranges and completes $6M refinancing of Gig Harbor Marina & Boatyard.

2016

Business of the Year

Gig Harbor Marina & Boatyard, a Crown NorthCorp portfolio company, awarded Business of the Year by the Gig Harbor Chamber of Commerce

2015

Looking Ahead

Crown NorthCorp focuses on innovative asset management and financing opportunities - redevelopments, workouts and turnarounds - and continues to deliver value for co-investors and communities.

Gig Harbor Marina & Boatyard Acquired

Crown NorthCorp acquires 50% equity interest in and secures management agreement for Gig Harbor Marina & Boatyard. Crown NorthCorp adds $2M of capital value to the asset in the first year of ownership.

2010

European Exit & Re-focus on the US

Crown NorthCorp exits European business and consolidates operations to the US. Crown NorthCorp advises on recapitalization and new strategy for The Bank of Maine (an OCC-regulated bank). Ronald Roark joins the bank's Board of Directors as Chair of the Board’s Risk Committee and served on its Loan and Compensation Committee until October 2015.

2006

Acquisitions in Belgium, Sweden, Finland, and Germany

Crown NorthCorp acquires 50% of Titrisation Belge-Belgische Effectisering SA/NV (TBE), in a joint venture with Fortis Bank, and acquires 93 Axfood grocery stores in Sweden for SEK627M (€70M). In 2006, Crown Asset Management, a subsidiary of Crown NorthCorp, in partnership with Niam Retail Holding Finland AB acquires 114 grocery stores in Finland. That same year, Crown NorthCorp acquires Westfalen Bank from HypoVereinsbank AG.

2003

Restructuring US Business

Crown NorthCorp, restructures, streamlining its US activities to Dallas, TX and Columbus, OH before acquiring Royal Investments Corp. by merger in 2003.

1999

Leading European Rated Servicer

Crown NorthCorp acquires Guardian Royal Mortgage Exchange Company in the UK, changing its name to Crown Mortgage Management. Crown Mortgage Management achieved the distinction of being the first RMBS and CMBS servicer in Europe to be rated by several rating agencies.

European Assets Sold

At this time, Crown NorthCorp manages 2000 assets, including $2.24B in loans. The following year, Crown NorthCorp sells its European assets and enters into sale-and-leaseback transaction of its Columbus, OH headquarters.

First Foray into Europe

Crown NorthCorp establishes European operations through 50% interest in Catella/Crown NorthCorp JV AB. During this period, Crown NorthCorp completes two of the largest real estate transactions in Swedish history: the acquisition of a real estate portfolio from Telia, the Swedish telecom company (472 buildings in 158 communities for SEK5.1 billion) and the acquisition from Vasakronan of Stenvalvet, a company owning 188 government and local authority buildings properties in 100 communities, for SEK4.85 billion.

1998

Growth through Acquisition

Harbert Equity Fund I, LLC, an affiliate of Harbert Management Corp., a diversified investment firm, invests $5M in Crown NorthCorp. Crown NorthCorp acquires Indianapolis-based Merchants Mortgage Corp. and St. Louis-based Reinlein/Lieser/McGee. The wholly-owned subsidiary of ContiFinancial Corp. invests $2M in Crown NorthCorp, which at this time, manages close to $8B of assets on behalf of US investment banks and financial institutions.

1996

Establishes Expertise as Significant RTC Contractor

Crown Revenue Services is established in Columbus, OH and becomes one of the largest asset management contractors for the Resolution Trust Corporation (5 offices, 200+ employees). Crown Revenue Services becomes a subsidiary of Dallas-based Northcorp Realty Advisors in 1994 and the new company formally changes its name to Crown NorthCorp Inc. Crown NorthCorp acquires Prime TEMPUS, Inc., a company specializing in liquidations and recoveries on behalf of insurance companies. By 1996, Crown NorthCorp has managed over $5.5B in assets for the RTC and FDIC.

1989

Savings & Loans Crisis

The financial industry saw the creation of the Resolution Trust Corporation in 1989 following the Ohio Savings and Loans crisis in 1983.

1977

REE Inc. Founded

Ronald E. Roark founds REE Inc. (now part of Crown NorthCorp) and begins his career in real estate, managing and working out 14 planned unit developments in the US and one in Costa Rica. From 1977 to 1981, he made investments in distressed real estate partnerships with REE managing 84 partnerships, 4,876 apartments, 1 million square feet, a nursing home with 2000 beds, and a hotel chain in Ontario.

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