In response to the growing number of real estate investors, lenders and owners with financially distressed and underperforming assets, Boston-based Real Estate Fiduciary Services (REFS) has created an asset management alliance.

Led by REFS President John Baczewski and comprised of eight senior-level real estate practitioners from diverse backgrounds and cities, the alliance said it will provide services designed to protect and preserve real estate investment value in today’s marketplace.

"This alliance is unique in both the breadth and depth of the asset management expertise it offers," said Baczewski.  "It joins together seasoned real estate veterans whose experience covers all disciplines of the profession – across all capital structures, product types and markets – and through multiple industry cycles. Combined with our strong business connections, we can provide cost-effective workout solutions to any financial or operational challenge a client’s portfolio may face."

In addition to Baczewski and REFS principal Francis Decker, the alliance includes:  Bruce Fernald and Mark Briggs, principals of Black Diamond Capital Advisors, an Atlanta firm that provides capital sourcing and advisory services for commercial real estate clients; David Lester, president of Lester & Assoc., an Atlanta marketing-communications firm specializing in real estate; Debra Williams and Ned Williams, principals of Vector Real Estate Advisors, an asset management and consulting firm based in Virginia Beach, Va.; and Hunter Richardson, CEO of Richardson Development Group, a real estate development and project management company in Reston, Va.