After almost five years of operation, the Metro Brokers Bank Asset Team has sold its 4,000th property. The Bank Asset Team is a special division of Metro Brokers that handles assets and consulting for banks, lenders, asset managers, equity funds, investment firms and government institutions.

The 4,000th listing sold by the Metro Brokers Bank Asset Team was located on South Atlanta Street in Roswell, Ga. This commercial listing – which sold for $1,417,500 – is 8.7 acres of vacant land. The selling agent for the property was Brad Harper of Metro Brokers' Corporate office located in Atlanta.

Since its inception in February 2010, the Bank Asset Team has managed more than 5,000 properties in a variety of categories: Land, retail, homes, apartments, lots, subdivisions, office space and more. In addition to providing marketing services such as listing and selling, the Bank Asset Team also offers valuation, preservation, property management, HOA, vendor management and more services through a single point of contact.

"A variety of institutions are continuing to move towards using asset management companies like the Metro Brokers Bank Asset Team that allow them to take a hands off approach," said President and CEO Kevin Levent. "This has reduced their personnel expense and liability by transferring the workload to our company. We are more efficient and effective at disposing of assets, which allows them to concentrate on what they do best: Investing."

The Bank Asset Team started out with servicing other real estate owned (OREO) assets from FDIC Loss Share institutions, but soon expanded to handle legacy and non-Loss Share assets as well as providing consulting services. Currently, the division handles assets from more than 20 banks, lenders, government institutions and investment firms. While the program began in Georgia, it has since spread nationally with properties focused in the southeast: Virginia, North Carolina, South Carolina, Tennessee, Alabama, Mississippiand Florida.

"Our client engagement model is unique for two reasons," said Joel Strimban, Senior VP of the Bank Asset Team. "1) It's a totally integrated model with full-time, dedicated subject matter experts in key areas, and 2) the program is custom designed and optimized to fit each institution's goals and objectives. Our clients, consisting of some of the largest regional banks and investment firms in the southeast, have been very pleased with our performance."