The PNL Companies

PNL is shorthand for “profit and loss”. The name signifies a successful bottom-line approach to asset management. The PNL Companies purchase all types of discounted commercial mortgages and properties. These range from apartments, industrial, offices and retail centers, to recreation/entertainment properties, land and, on an exceptional basis only, hotels and healthcare properties. Our territory is the U.S and Canada. Individual asset sizes have ranged from under $1 million to $75 million. The common denominator linking the assets in our diverse acquisition program is that they are “special assets” with a variety of problems or challenges due to vacancy, unusual nature, difficult location, credit issues, bankruptcy, environmental issues, litigation, etc. Today, PNL is led by David Porter, along with Scott Kocurek, Head of Asset Management, and Dan Levitan, Head of Acquisitions. Both Scott and Dan bring extensive real estate and workout experience and have been with PNL since 1999. To date, total realized recoveries for all investments exceed $625 million. Taxable net income on investments made to date, both realized and projected, is approximately $175 million for all PNL entities. PNL’s financial performance is audited by Weaver & Tidwell, the largest independent auditing firm in Texas. Over the past 20 years PNL has developed a solid internal equity base through continued reinvestment of our capital. Current equity value of the in-house ownership of The PNL Companies is approximately $40 million. PNL is a privately owned firm with 100% of its equity held by its principals, key staff and affiliated parties. PNL’s full time internal staff is currently 12 professionals. We have deliberately kept staff size small to maintain a flat organization and entrepreneurial culture, which is key to our ability to outperform large institutional firms. We anticipate growing the PNL team to approximately 15 people over the next few years as opportunities in the distressed real estate market multiply. Our team brings substantial real estate, banking, investment banking, real estate underwriting, collections, workouts, bankruptcy, accounting, and construction/renovation experience to the task of maximizing performance on our portfolio. Collectively, our staff brings over 120 years of on-point experience.