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Tom McMahon has more than 25 years of commercial real estate experience with major financial institutions and government agencies.  His primary work experience includes: non-performing loan restructuring, REO workouts, commercial appraising, equity oversight, development planning/municipal entitlements, and real estate limited partnership liquidation. His clients have included; Eureka Savings, HomeFed Bank, FSLIC, Home Capital Corporation, American Savings, Resolution Trust Corporation, National Stonehenge, FDIC, Midland Loan Service, Advantage Realty Advisors and The Dunham Family Trust.

Principal   (12-1-97 to Present)
Real Estate Services Group, Carlsbad, California

Regional Manager (12-1-89 to 12-1-97)
National Stonehenge Corporation, Carlsbad, California (Western Regional Office)

The following is a chronology of his work history at the National Stonehenge Corporation:

1996-1997: Project Manager for the acquisition diligence on several non-performing commercial whole loan assets and two significant commercial loan portfolios (performing and non-performing loans) for Stonehenge's investors.   His responsibilities included the review of the Seller’s on-site files, data input, collateral classification of each loan asset and the portfolio pricing.  The foregoing portfolios were comprised of commercial loans in the Southeastern U.S. with a concentration in the states of Florida and Texas. 

1994-1995: Full-time Business Consultant on the Resolution Trust Corporation’s (RTC) Special Workout Asset Team (SWAT) in Newport Beach, California.  The SWAT team’s major projects included the liquidation of the Liberty Service Corporation's limited partnership interest in the Essex Investments L.P.  Liberty Service Corporation was a subsidiary of Columbia Saving in Irvine, California, an RTC controlled entity.  The Essex portfolio consisted of multifamily, warehouse, office and a large urban redevelopment property. The total valuation was in excess of $150 million.  Mr. McMahon negotiated a consensual early liquidation of the Essex Partnership for the SWAT team’s approval and concurrently directed the documentation of the Liquidation Agreement.  This partnership liquidation was completed within 15 months.  The net recovery to the RTC/FDIC was in excess of $36 million.  This recovery was more than two times the initial recovery projected by the RTC. 

1992-1993: Project Manager for Stonehenge’s Special Servicer proposals in the RTC's Commercial Mortgage Backed Securities (CMBS) program.  Mr. McMahon prepared all Special Servicer bid proposals and Rating Agency presentations.  Stonehenge was approved (Rated) as a Special Servicer by all four Rating Agencies for the RTC's CMBS program.

1989-1992: Western Regional Manager for Stonehenge's consulting contract with the FSLIC/RTC/FDIC at Beverly Hills Business Bank (BHBB), formerly Beverly Hills Savings, in Laguna Hills, California.  BHBB (bank buyer) had purchased the assets of BHS from the FSLIC via a financial “Assistance Agreement”, whereby the FDIC (bank seller) guaranteed the book value of specific major commercial loan assets. Mr. McMahon’s consulting work included the review and approval, disapproval or modification of all asset disposition recommendations made by BHBB to the FDIC. The scope of work included specific analyses of the disposition alternatives for both major commercial loans and REO assets. 

Senior Problem Loan Portfolio Manager  (9-22-86 to 9-15-89)
American Real Estate Group (AREG), Irvine, California

Mr. McMahon served as Vice-President of American Real Estate Group (AREG), American Savings, New West Federal and several other subsidiary companies from September 1986 to September 1989.  In 1985, American Savings was the largest Savings & Loan Association in the Country with assets in excess of $30 billion, and also the most insolvent S&L in the Country.  The FSLIC forced the top executives of American to resign in early 1986.  AREG was created in mid-1986 as American's non-performing loan/REO workout subsidiary. It had the delegated responsibility for special servicing more than $3 billion of non-performing loans and REO assets.   Mr. McMahon was one of four Senior Portfolio Managers in the Non-performing Loan Management Division at AREG. His primary loan management responsibility was American’s non-California non-performing commercial loan assets.   In addition to negotiating directly with borrowers on specific major commercial/income property loans, he also directed the legal activity in the foreclosure process and bankruptcy litigation on his assigned assets.  The principal balance of his team's active portfolio averaged $400 million in non-performing loans (60 days or more past due) over a 3-year period.  His team of four non-performing loan specialists successfully completed loan workouts in 20 states.  After Robert M. Bass acquired American Savings in December 1988, Mr. McMahon continued his asset management responsibilities work under the direction of Robert M. Bass for the newly formed New West Federal.  New West Federal’s assets ($7 billion) were comprised of the non-performing and other “watch listed” loans segregated from the American portfolio at the time of the Bass acquisition.  New West Federal was commonly referred to as “the Bad Bank”.

Principal (5-25-84 to 9-22-86)
Real Estate Services Group, Carlsbad, California

The Real Estate Services Group is Tom McMahon’s dba for independent contractor work.  His primary client was HomeFed Bank of San Diego, who was managing Eureka Federal Savings for the FSLIC under its Management Consignment Program.  Mr. McMahon was directly responsible for the asset management of Eureka's non-performing loan/REO portfolio in the states of Texas and Louisiana. His portfolio of non-performing commercial assets included approximately 15 properties with a book value in excess of $75 million. These assets included whole loans, participation loans and REO properties, with Eureka as either the lead lender, or the most significant investor participant.  This was a total "hands-on" responsibility that included the direction of the legal activity for the non-performing loans (including Receiverships and Bankruptcies), and the property management/marketing activities for the REO properties.

Vice President (5-1-69 to 5-25-84)
HomeFed Bank, San Diego, California

Tom McMahon's work experience at HomeFed Bank included 15 years of progressive responsibility in the areas of; appraisal, loan underwriting, major non-performing loan management, REO workouts and the land development planning/entitlement of HomeFed owned land.  The following is a chronology of his work history at HomeFed Bank:

1979 to 1984:  Special Projects Manager for HomeFed owned properties.  He was HomeFed Bank's project manager for several proposed commercial mixed-use developments on bank owned property that included a HomeFed Branch office as the primary user.  He was responsible for the management of the development planning and entitlement activity for these projects, and coordinated the efforts of the development team members.  His daily activities included the on-going tasks that occur in the development process such as: land acquisition, site development studies, project feasibility, government entitlements, hiring consultants and the continual negotiations required to maximize the development goals.

1975 to 1979:  Project Manager, Real Estate Owned Dept. and Home Capital Corporation.  He was responsible for Home Federal's interest in large non-performing loans prior to and after foreclosure.  It was his responsibility to formulate a "work-out" plan for each REO project and manage said projects to a successful disposition conclusion. 

1973 to 1975:  Loan Acquisition Underwriter, Nationwide Loan Dept. (Secondary Market).  He was responsible for reviewing appraisals, negotiating loan purchase terms, inspecting the proposed security and recommending appropriate action to senior management for all proposed Secondary Mortgage market income property loan purchases.  The properties included: apartments, office buildings, industrial buildings, hotels, M.H. parks, and resort condominiums.  His duties as a Loan Acquisition Underwriter in the secondary market gave him experience in 16 states.

1983 to Present  - Real Estate Broker, State of California # 853248

1978 to 1979 – Graduated, The Institute of Financial Education, School for Executive Development, University of Washington.