Chicago-based @properties, an independent brokerage firm, has formed Institutional Services Group, a new division serving institutional clients that own or invest in REO properties, distressed real estate and foreclosures. ISG named Ralph Cram and John Staib as managing directors of the new division. The startup will offer a full range of services related to REO properties and distressed real estate investment in the Chicago area including brokerage, receivership, asset preservation, property management, consulting, development and investment-advisory services for the disposition or acquisition of mortgage notes, residential property and commercial property.
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