A Brief History
In 2013, Robert Collins was approached by the president of New Jersey Community Capital to help support a variety of new initiatives focusing on revitalizing distressed New Jersey homes. Super storm Sandy, the financial crisis of 2008 and a legacy of underserved communities converged to present an enormous challenge / opportunity. These events culminated in launch of creAdvisors.
creAdvisors was established at the intersection of these events and has been forged through addressing distressed properties at a scale not before seen. Some of these challenges included: single family acquisition due diligence across a diverse array of local markets, preservation services for a loan portfolio covering the entire state of New Jersey, Hardest Hit Fund deployment through an aggressive loan modification effort, conducting sales across the same geography & developing a property management program for a quickly expanding rental portfolio.
In order to better serve these diverse needs, Hudson Cove Realty (HCR), a licensed New Jersey Real Estate brokerage, was launched in 2016. In addition to enhancing the value of a partnership with creAdvisors, HCR has expanded the physical reach to service clients in new markets.
In the succeeding years, creAdvisors has developed relationships with private mortgage investment companies and venture backed startups, establishing the firm as a leader in loss mitigation and real estate services for asset managers.
- The Hudson Cove Realty team closes over $10mm in REO sales.
- Hudson Cove Realty is recognized as establishing homeowner contact at rates doubling the competition, leading to fewer foreclosures through modifications or deed-in-lieu .
- The Hudson Cove Realty team closes over $5mm in sales within a year after opening their doors.
- creAdvisors provides oversight and financial reporting for a 190+ unit scattered site one, two and three family rental property portfolio
- creAdvisors oversees preservation services on 200+ residential properties scattered around New Jersey
- creAdvisors conducts proforma analysis and launches NJCC's residential brokerage, implementing operational guidelines