Today before the opening bell, Nexia Holdings announced that a subsidiary of the company, Wasatch Capital Corporation, has assembled a team of new officers to manage the real estate operations that will be expanding under Wasatch’s ownership. The appointments are as follows: Casey J. Coleman as President, Corey Vandenberg as Vice President, and William Pettet as Secretary/Treasurer.
Richard Surber, CEO of Nexia Holdings, commented, “The team that Nexia is assembling will be key to our future success as a real estate holdings company. These professionals will take Nexia in a new direction. I have a high level of confidence in all three new officers of Wasatch Capital Corporation.”
Casey J. Coleman, the new President, has more than 15 years of extensive experience in the real estate market. For nearly five years, Coleman was the owner and CEO of Rental Finders, one of the largest property management companies in Salt Lake City. He has recent experience managing a real estate portfolio valued over $10 million and will use his expertise to manage Nexia’s growing real estate holdings.
Corey Vandenberg, the new Vice President, founded Utah Foreclosure Advocates in 2002, offering a free service to homeowners that wanted to obtain favorable work out conditions to avoid foreclosure. He has helped thousands of homeowners avoid foreclosure, save their personal residences, and preserve their equity and credit rating. These activities have resulted in a substantial network, including loss mitigation companies, bankruptcy trustees, and legal counsel.
William Pettet, the new Secretary/Treasurer, founded several successful real estate businesses including Wasatch Investment Properties and Credit Solutions, LLC. Since 1999, he has worked in the real estate industry as an investor, consultant, and mortgage professional. In 2007 he became the Vice President and CFO of Trinity Financial Services, a Utah mortgage broker.
With the number of foreclosures reaching new records, banks have an enlarging portfolio of Real Estate Owned properties. Nexia/Wasatch is focused on working with employees at various local and regional banks to embark on discussions regarding the purchase of a portion of those assets. Wasatch is also talking with many individual investors who purchased real estate during the recent market boom. With the changing real estate market, a number of these investors see Nexia as a strong exit strategy to liquidate their portfolios.
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