MANAGEMENT

Mr. Goldrick has thirty-five years of commercial real estate experience.  He has been a CFO of a Dallas real estate investment business owned by a former Trammell Crow managing partner and also operated his own investment business prior to getting involved in special servicing.

Over the last twenty-five years Mr. Goldrick focused on the administration, management and collection of all types of debt instruments including CMBS loans, wholly owned real estate loans, equipment financed transactions and judgments stemming from deficiency lawsuits.  Collateral has consisted of all real estate types and equipment with debtors and property located throughout the United States.

Most recently from early 2006 until June of 2009 Mr. Goldrick worked for ORIX USA located in Dallas, Texas as Executive Vice President. He  was in charge of collecting a $200 million dollar judgment portfolio stemming from more than 700 lawsuits that resulted in more than 1,250 judgments against debtors located throughout the United States.  This fast track project commenced with litigation initiated in late 2005 and judgment collection substantially concluded in May of 2009.  The results of the project were impressive with recoveries on judgments averaging between 30% and 40% for those debtors with identifiable assets.  The keys to the success of the project were the processes developed to manage the high volume of litigation, identifying the highly collectible accounts and executing the collection strategy while striving to continuously reduce the transaction cycle time and collection costs.

Prior to the judgment project from mid 2002 until early 2006 Mr. Goldrick was a Senior Asset Manager at ORIX responsible for the collection of a high profile portfolio of CMBS loans totaling more than $100 million that were the subject of intensive litigation related to loan repurchase claims as well as borrower fraud  and recourse triggering claims.  He was successful in obtaining the documentation evidence for several loans that were repurchased by Wall Street firms in excess of $25 million thereby avoiding significant loss exposure to ORIX.  Additionally, through his experience and accounting training he was able to identify fraudulent transfers of funds that were ultimately recovered by the company.  Further, he was successful in identifying breaches of loan document provisions on several loans that converted them from non-recourse to recourse loans enabling ORIX to avoid as much as $20 million in losses as a result of additional sources of recovery from “deep pocketed” principals.

Prior to working for ORIX Mr. Goldrick was employed by GE Capital Real Estate in Dallas, Texas as a Senior Asset Manager and Portfolio Manager from early 1993 until mid 2002.  His role at GE involved the responsibility for a  portfolio of nearly one hundred non-performing real estate loans and REO in excess of $500 million.  Most of these loans had been purchased by GE from the RTC and Department of HUD.  More than twenty-five  of the loans were in Chapter 11 and during the course of his nearly ten years at GE he became the “go to” person for bankruptcy and other complex litigation matters.  He was successful in avoiding several potential “cram down” plans that could have led to significant losses to GE.  While at GE Mr. Goldrick generated nearly $100 million in gains for the company from litigation/bankruptcy settlements, negotiated payoffs and REO sales.

During the course of Mr. Goldrick’s career he has been deposed nearly one hundred times, testified in numerous state and federal courts throughout the United States and has been designated as an expert witness on more than one occasion.  He has managed bankruptcies in nearly all of the federal judicial circuits in the country.  Further, he has exposure to foreclosure processes in all of the major states in the country.  

Mr. Goldrick attended Southwest Texas State University and received his Bachelors of Business Administration degree with a concentration in accounting..  He subsequently  became a Certified Public Accountant in Texas under  license #018339.