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etc. The Company manages and/or asset manages approximately 250 properties comprising some
22,000,000 square feet in 15 states. Commonwealth Commercial and its affiliates have been
involved in myriad of complex commercial real estate transactions, including receiverships and
other distressed asset resolutions in Virginia, Delaware, Connecticut, North Carolina, and Georgia.
I have personally been involved with more than 25 properties as the designee for Receiver entities
controlled by Commonwealth Commercial or me. In addition to receiverships, I have provided
consulting and management services for lenders on dozens of other distressed properties which
were resolved outside of receiverships. My first receivership was more than 15 years ago. I am a
licensed a Real Estate Broker in the Commonwealth of Virginia and State of North Carolina.
Appointment as Special Receiver
5.
FourLeaf Federal Credit Union (“FourLeaf”), formerly known as Bethpage Federal
Credit Union, made a $12,000,000 purchase money loan to Seaview Apartments LLC (the
“Debtor”) to fund a portion of the purchase price paid by the Debtor for the residential apartment
tower located in the City of Newport News, Virginia, and commonly known as “2 28th Street (also
known as 90 28th Street), Newport News, Virginia (the “Property”). FourLeaf has a perfected first
priority deed of trust lien on the Property and an assignment of and lien on all rents or other
revenues relating to or generated by the Property.
6.
By its Verified Complaint (Petition for Appointment of Receiver) (the
“Receivership Complaint”) against the Debtor filed in the Circuit Court of the City of Newport
News, Virginia (the “Virginia Circuit Court”) initiating Case No. CL2405300T-00 (the
“Receivership Proceeding”), FourLeaf sought the appointment of the Receiver as special receiver
for the Property.
7.
A true and complete copy of the Receivership Complaint is attached as Exhibit 1.
Case 25-23251-MEH Doc 18-13 Filed 12/22/25 Entered 12/22/25 20:08:18 Desc
Affidavit Page 2 of 16
ANN public copy | complete ECF 18-13 | combined source PDF 225/478
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