Amicus Latest News
County Officials and Amicus Management Explore New 175-Acre Site Near Metro Detroit for Distribution, Warehousing, and Light Industrial Uses
Here is a link to a Detroit News article about the possibility that property Amicus manages in Monroe County may become part of a rezoning package to allow for manufacturing and warehouse and distribution operations on 175 acres to rejuvenate an area where retail is struggling.
Amicus Management Inc., court-appointed receiver of the Monroe Factory Shops, has solicited bids to demolish two of the mall’s three buildings to pave the way for potential light industrial use. Marc Berry, project director for Amicus Management, said retail tenants in the buildings marked for demolition have been invited to move to the 34,000-square-foot third building at the southernmost tip of the 22-acre triangular parcel. Amicus Management has begun marketing the property for $1.1 million.
Amicus Management Has New Offices at 977 Ada Place Drive, Grand Rapids, MI 49546
On May 30, 2014, Amicus Management moved from 555 Cascade West Parkway to 977 Ada Place Drive. All other contact information remains the same.
200 North Franklin Industrial Facility Pending Sale in Zeeland, Michigan
Amicus Management, Inc. announces the pending sale of 200 N. Franklin, a 229,500 SF warehouse.
Cadillac Resort—Rodeway Inn—Has New Owners!
After sitting empty for more than a year, there are signs of new life and a new owner, following the sale of the Rodeway Inn in Cadillac, MI.
Read more here.
Houghton Lake Comfort Suites to Open Water Park After Upgrades!
Houghton Lake Resorter dated May 23, 2013, reported the $250,000 upgrades to the Comfort Suites Lakeside. To learn more, download the PDF below.
How Will ObamaCare Affect You, Your Business, And Your Clients?
It’s time for West Michigan employers to stop sitting on the ObamaCare fence and to start counting heads and keeping track of employee hours.
That’s some of the advice that Attorney Mindi M. Johnson gave to a crowd gathered on April 18, 2013, at the Van Andel Institute for a presentation titled, “How Will ObamaCare Affect You, Your Business, and Your Clients,” sponsored by Amicus Management Inc. and the Grand Rapids office of Foster Swift Collins & Smith PC. Johnson is one of Foster Swift’s experts who give presentations throughout the state on the law technically known as the Patient Protection and Affordable Care Act (PPACA) of 2010.
Read more here.
Comfort Suites—Lakeside on Houghton Lake—$250,000 Upgrade to Water Park and Spa in Time For Memorial Weekend!
The $250,000 renovated water park and spa at Comfort Suites on Houghton Lake will be open Memorial Weekend.
Amicus Event on March 20: “The Impact of the Fiscal Cliff on the Average American”
Amicus Event—March 20—Grand Rapids: “The Impact of the Fiscal Cliff on the Average American”
Location: Amicus Management, Inc.
555 Cascade West Pkwy SE, Grand Rapids, MI 49546
Date: Wed, March 20, 2013
RSVP: Limited Space - Sherri Soltysiak at (616) 551-5795 or email@example.com
Dr. K. Brad Stamm | Ph.D., MBA
Dr. K. Brad Stamm, the author of ‘Faithonomics,’ has taught economics at both the undergraduate and graduate level for 20 years in New York, Philadelphia, and Grand Rapids. He has taught Global Economics during the summers at Chongqing University and Qingdao Technological University in China, and Lithuanian Christian College in Klaipeda, Lithuania.
Dr. Stamm earned his Ph.D. in Economics from Fordham University, New York City, his MBA from Eastern University, St. David’s, PA, and his B.S. in Business & Economics from Bowling Green State University, Bowling Green, Ohio. He has published in many journals and newspapers including the Grand Rapids Press, the Michigan Business Journal, Corp! Magazine, and the Journal of Biblical Integration in Business in addition to appearing on television affiliates of ABC, NBC, and FOX, along with being a regular radio commentator on the US economic environment. He is a reviewer for the Christian Business Academic Review.
He has been named nine times to “Who’s Who Among American University Professors” and inducted into “Who’s Who in America” in 2010. He also served as an ongoing consultant to the Michigan Department of Education and the Michigan Council on Economic Education.
He is a native of Northwest Ohio and is married to recording artist Tami Gunden. They have two children, Sara, a senior at Taylor University, and Ethan, a 7th grader at Northpointe Christian School. Dr. Stamm speaks regularly on college campuses, in churches, and for various civic organizations.
New Owners of Shoppes at Romence Village Intend to Build on Proximity to the Crossroads Mall
The Shoppes at Romence Village in the 500 block of Romence Road in Portage has new owners that intend to market the retail location to boost occupancy and build customer traffic using its proximity to the Crossroads Mall as a selling point.
The 69,000-square-foot strip retail center was sold to the Bleznak Real Estate Group in Birmingham for about $1.8 million, said Dan Yeomans, president of Amicus Management Inc. in Grand Rapids, the court-appointed receiver of the property.
Amicus Management sold the strip retail center on behalf of Huntington National Bank, which foreclosed on the property in May due to unpaid debts.
Yeomans said Amicus Management, one of the oldest and largest workout firms in West Michigan, managed the property since last fall to maximize its value while it found a buyer. The Shoppes at Romence Village shares a signal light with the Crossroads Mall at the mall's south main entrance, making it a high traffic location. The retail strip is the site for several tenants such as a Michigan Secretary of State office, pizza parlor, fitness center, and tanning center.
“We are very excited and proud to be the new owners of The Shoppes at Romence Village,” said Steve Pyett, director of acquisitions for the Bleznak Real Estate Group, which seeks out underperforming properties within the local submarket in order to eventually own the collateral at a significant discount.
“Romence Village has an excellent location just south of the Crossroads regional mall, and the center itself has tremendous curb appeal. We look forward to increasing occupancy and vibrancy at Romence Village over the next 12 months. It was a challenging purchase transaction, and the Amicus staff was excellent to work with.”
Harbor Foam Purchase at 2950 Prairie Ave in Grandville
GRANDVILLE, MI – Harbor Foam, the company best known for producing giant blocks of polystyrene for moviemakers and sculptures such as…
Auction of Bosgraaf’s Auto Sports Unlimited Nets Nearly $1M
Auto Sport Auction Clears Out Thousands of Auto Parts to Settle Owner’s Bankruptcy Debts
Holland Developer’s Former Auto Business to Go on Auction Block in October
Comfort Suites, Comfort Inn Remains Open Despite Foreclosure
The National Republic Bank of Chicago has invested more than $150,000 in upgrades at Comfort Suites Lakeside and nearby Comfort Inn.
Michigan Court Authorizes Receiver Sale of Real Property Free and Clear of Redemption Rights!
Barnes & Thornburg’s Finance, Insolvency, and Restructuring Department have issued an alert highlighting a Michigan Circuit Court’s decision in First Financial Bank N.A. v. Scott T. Bosgraaf, et al. In its decision, the court authorized a receiver to sell real estate free and clear of redemption rights. The decision addresses a murky area of Michigan law and could begin a judicial dialogue that ultimately results in a clarification of this area of the law by the Michigan appellate courts.
Amicus Management Fills the Niche in the West Michigan Real Estate Turnaround
Amicus Management fills niche in West Michigan real estate turnaround…
Business Journal—Mel Trotter Buys Former Slims Building
The Grand Rapids Business Journal published a report: Mel Trotter Buys Former Slims Building
Mel Trotter Acquires Former River City Slims Bar in Grand Rapids
Grand Rapids, MI—Mel Trotter Ministries has purchased the former River City Slims bar at 243 Commerce Ave SW, according to Sandra Gaddy, VP…
Two West Michigan Hotels Go into Receivership
Hudsonville, MI—Two hotels near the Hudsonville exit of the Ford Freeway are under new management after a Chicago bank placed them and three other Michigan hotels in receivership last week…
Amicus “Detecting Fraud in Bankruptcy” Event
You are cordially invited to attend a free networking reception on April 24, 2012, from 4:30-7:30 PM at Amicus Management, Inc, 555 Cascade West Parkway SE, Grand Rapids, MI 49546. Presentations by Attorney Pat Mears of Barnes & Thornburg, LLP, and Mario Franciscotty of Level Ten Consulting, LLC. Heavy hors d’oeuvres served.
Seven Area Properties of Scott Bosgraaf Turned Over to Receiver, Amicus Management, Inc.
Holland Sentinel: Seven area properties of entrepreneur Scott Bosgraaf and entities with which he’s related must be turned over to a receiver, who will manage the properties until they are sold, an Ottawa County judge ruled last week.
The court-appointed Amicus Management Inc., of Grand Rapids, as receiver for the properties…
Foreclosure Proceedings Expanded for Struggling Holland Developer Scott Bosgraaf
Grand Rapids Press: More of Holland developer Scott Bosgraaf’s properties were put into receivership this week. Circuit Court Judge Edward Post expanded foreclosure proceedings to add a third creditor and half dozen more properties including a portion of the former Holland area Chris-Craft boat plant…
Holland Developer Files for Bankruptcy
Holland developer Scott Bosgraaf files for bankruptcy for Baker Lofts, but “we aren’t ready to throw in the towel.”
GR Press: HOLLAND—Holland developer Scott Bosgraaf has filed for bankruptcy protection on two of his high-profile developments as more than a dozen of his properties are foreclosed on by three banks trying to collect about $20 million in unpaid loans.
Baker Lofts, Central Lofts for Bankruptcy
Holland Sentinel: HOLLAND—Entrepreneur Scott Bosgraaf’s Baker Lofts LLC and Central Lofts LLC filed for bankruptcy this week in court documents show.
Event in Detroit on Oct 20, 4:30 pm - 7:00 pm: “Assessing Real Estate Values”
Detroit Event: Oct. 20—Townsend Hotel, 4:30 pm - 7:00 pm
Join us as our guest at the Townsend Hotel in Detroit on October 20, 2011, from 4:30-7:00 PM. Four guest speakers will be presenting information on “Assessing Real Estate Values.” Cocktails and hors-d’oeuvres. RSVP, please.
Space is limited!
Amicus Management Oversees Sale of Historic Shangri-La Motel Near Saugatuck
Amicus Management oversees the sale of the historic Shangri-La Motel near Saugatuck
The Holland Sentinel reported that Amicus Management, Inc., in Grand Rapids oversaw the sale of the abandoned Shangri-La Motel, 6190 Blue Star Hwy., near Saugatuck, for $85,000 to Steve Laughner, who also owns the Pines Motorlodge in Saugatuck and other retro-themed properties. Daniel Yeomans, president of Amicus Management, Inc., which acted as court-appointed receiver, said the former owner abandoned the 1950s-era drive-up motel in May and the property went into receivership.
Government Recoups $1.76 Million in Taxes Owed by Harrison Businessmen
Published: Thursday, August 18, 2011, 6:59 PM Updated: Thursday, August 18, 2011, 7:01 PM
By LaNia Coleman | The Bay City Times
HARRISON—The sale of two fruit markets and a chain of car washes in northern Michigan has recouped about $1.76 million that two Clare County brothers owed in unpaid federal taxes.
Brothers William and Timothy Walraven were sentenced to federal prison in October 2009, nearly four years after IRS agents raided their homes and seized more than $1.3 million in cash reserves accumulated between 1990 and 2005 when they filed fraudulent income tax returns, federal prosecutors have said. As part of their penalty, the Walravens were ordered to surrender their businesses, including Country Garden Fruit Markets in Harrison and Cadillac and six self-serve car washes in Harrison, Gladwin, and Beaverton.
“When the few remaining assets are liquidated, the federal government may recoup a total of about $2 million in restitution,” said Daniel Yeomans, president of Amicus Management Inc., in Grand Rapids, the court-appointed receiver in the case. U.S. District Judge Thomas L. Ludington appointed Yeomans and Amicus Management to manage the properties and “provide for their orderly liquidation to maximize their value” at auction, said Yeomans.
The properties were sold in March by Miedema Auctioneering of Byron Center. The Walravens pleaded guilty to one count each of conspiracy to defraud the United States and attempted tax evasion. William Walraven Jr., 48, is serving a 43-month sentence at the Federal Correctional Institution in Pekin, Illinois. He is scheduled for release on Oct. 3, 2012.
Timothy Walraven, 50, is serving 40 months at the Federal Correctional Institution in Morgantown, West Virginia. He could be released as early as March 5.
Business Journal – Cautious Optimism
Cautious optimism, fiestas, and the real summer school
Business Journal Staff
Published: August 2, 2011
If the debt-ceiling debate is decided today—and that’s a big if—then there just might be some sunlight on the horizon for West Michigan’s real estate market.
In addition to Colin Kraay’s assessment from the commercial broker’s perspective on page 14, others in the food chain are cautiously optimistic as well.
A well-known subcontractor with a lot of experience in commercial construction in West Michigan said there may be a ”slight uptick” underway in commercial development activity.
“We’re seeing a slight increase in bidding opportunities,” said Linda Vos Graham. She said the uptick has been noticeable for about six months, and “it’s still very competitive for those contracts, but there is a slight uptick.” Vos Graham is president and owner of Vos Glass, which employs slightly more than 50 and is one of the largest glazing contractors in the state.
Vos Glass, founded in 1982, also has automotive and residential glazing divisions but its major business is commercial construction. Vos Glass has been involved in a number of high-profile projects, including second-phase work on Van Andel Institute and the Helen DeVos Children’s Hospital.
Vos Graham is also the president of the board of directors of the American Subcontractors Association of Michigan, which has 5,500 members. She said her opinion on a perceived uptick in bid opportunities reflects her views alone and is not the association’s official position.
She said there had been a steady decline in commercial development projects for as much as two years in a row, and that the increasing bid opportunities are finally a reversal of that.
“I’m not sure if that’s a trend or will continue, but I will have to say, in the last six months we have seen a slight increase in the opportunities,” said Vos Graham.
Employees of Festida Foods Ltd. were busy last week preparing a 155,000-square-foot building that the company bought last month in the Union Station industrial park in Grand Rapids for installation of a tortilla chip manufacturing line that will effectively double its chip-making capacity.
Festida bought the building for $2.1 million from Voordelig Ventures LLC through a transaction overseen by Amicus Management Inc. in Grand Rapids, which was acting as court-appointed receiver for the property that formerly housed warehousing for Grand Rapids Sash & Door, which has been winding down its operation after 86 years of business.
Festida employs about 30 people in the Cedar Springs plant where it manufactures the private label snacks, President Kyle Curtiss said, but the company will move to Grand Rapids when 219 Canton St. SW facility becomes operational sometime before the end of the year. The company expects to add between 10 and 20 employees to handle the expansion. Festida Foods makes tortilla chips for its own label and 50 other accounts, including MexAmerica Foods LLC in St. Mary’s, Pa., according to the MexAmerica Foods website.
Festida traces its roots to Raul Vega, who emigrated from Cuba to Grand Rapids in 1960 and worked for several years as a broker of Mexican food and spices before opening a Mexican restaurant. He then launched a tortilla chip manufacturing operation in 1989 in a former automotive plant.
Amicus Management was founded by Daniel Yeomans and is one of the largest and oldest workouts and court-appointed receivership firms in Michigan. Yeomans may be best known throughout West Michigan as the court-appointed receiver that secured the cash and physical assets of 16 shell entities making up the Cyberco Holdings scam perpetrated by Barton Watson in Grand Rapids. The scam was highlighted on the “Fraud in Cyberspace” episode of CNBC’s “American Greed” national television show.
More than a dozen West Michigan teachers are back in the classroom this week but without the chalkboards and AV equipment.
They are participating in the Educator in the Workplace “business immersion” program put on by the Grand Rapids Area Chamber of Commerce and the Kent Intermediate School District. The program is designed to provide teachers with firsthand knowledge of how hard skills like math and science, and soft skills like group work, are used in the workplace. Teachers will spend time at a variety of companies to get a better understanding of what skills are necessary for the workforce. Participating companies include Granger Construction, Mindscape at Hannon McKendry, Flexco, The Rapid, Van Andel Institute, Wolverine Coil & Spring, Amway, GR Community Foundation, Butterball Farms, Gymco, the city of Grand Rapids, Lacks Enterprises, Steelcase, and Helen DeVos Children’s Hospital.
The business hosts will join educators in the classroom during the school year when the teachers implement a lesson plan and presentation based on their experience.
Every little bit
Educators at Crestwood Middle School in Kentwood are reaping the benefits of a new business partner, too.
A Big Lots store opened Friday in Kentwood Town Centre on 28th Street SE and one of the featured guests was Omar Bakri, Crestwood’s principal, who received a $2,500 check from Big Lots district manager Mark Norcross.
And what did Crestwood do to earn such a reward?
“We always make a $2,500 donation to our new public school neighbor — kind of a ‘thanks for welcoming us to the area gift,’” said Toni Fink, a spokeswoman for Big Lots.
“So this year, 90 schools will be receiving the donations.”
As a Fortune 500 company with more than 1,400 stores in 48 states, Big Lots can probably afford the donations. But still, it’s a nice neighborly gesture, especially at a time when public schools are fighting for every dime.
Festida Foods Relocates to Grand Rapids
Festida Foods to locate tortilla chip manufacturing operation in Grand Rapids. Amicus Management handles the financial transaction as a court-appointed receiver.
GRAND RAPIDS, Michigan, July 28, 2011—Employees of Festida Foods Ltd. were busy today preparing a 155,000-square-foot building that the company bought last month in the Union Station industrial park in Grand Rapids for installation of a tortilla chip manufacturing line that will effectively double its chip-making capacity.
Festida bought the building for $2.1 million from Voordelig Ventures L.L.C. through a transaction overseen by Amicus Management Inc. in Grand Rapids, which was acting as court-appointed receiver for the property that formerly housed warehousing for Grand Rapids Sash & Door, which has been winding down its operation after 86 years of business.
Festida employs about 30 people in Cedar Springs, where it manufactures the private label snacks, President Kyle Curtiss says, but the company will move to Grand Rapids when 219 Canton St. SW facility becomes operational sometime before the end of the year. The company expects to add between 10 and 20 employees to handle the expansion. Festida Foods makes tortilla chips for its own label and 50 other accounts, including MexAmerica Foods L.L.C in St. Mary’s, Penn., according to MexAmerica Foods website.
Festida traces its roots to Raul Vega, who emigrated from Cuba to Grand Rapids in 1960 and worked for several years as a food broker of Mexican food and spices before opening a Mexican restaurant, then launched a tortilla chip manufacturing operation in 1989 in a former automotive plant.
Founded by Daniel J. Yeomans, Amicus Management is one of the largest and oldest workouts and court-appointed receivership firms in Michigan. Yeomans may be best known throughout West Michigan as the court-appointed receiver that secured the cash and physical assets of 16 shell entities making up the Cyberco Holdings scam perpetrated by Barton Watson in Grand Rapids. The scam was highlighted on the “Fraud in Cyberspace” episode of CNBC’s American Greed national television show.
Amicus Management Relocates to New, Larger Facility
Workout and court-appointed receivership firm Amicus Management expands in
Grand Rapids, adds staff
GRAND RAPIDS, Michigan, Dec. 14, 2010—Amicus Management Inc., one of the largest and oldest workout and court-appointed receivership firms in metro Grand Rapids, has tripled its office space by occupying an entire 8,300-square-foot building at 555 Cascade West Parkway.
Amicus Management President Daniel J. Yeomans said the firm’s move from its former 2,800-square-foot offices in the same office complex was necessary to accommodate growth and add new services for its clients in West Michigan. The firm recently hired James R. Laird as a certified public accountant and project manager, who will specialize in creating performance projections for ongoing concerns or properties including mobile home communities, condos, office, and medical buildings, shopping malls, hotels, and industrial properties. The addition of Laird brings Amicus Management’s full-time staff to 14 people.
“The type of businesses that we help has changed quite a bit during the past 17 years,” Yeomans said. “But regardless of whether we are dealing with a student housing project or tool-and-die maker, we have to find common ground among business owners, banks, attorneys, and debt purchasers to salvage ongoing concerns.” When Michigan was shaken several years ago by the severe decline in manufacturing, Yeomans served as court-appointed receiver for the former Detroit Cold Rolling steel mill in Gibraltar and other industrial concerns. Now the bulk of the firm’s work is related to court-appointed receiverships and workout consulting for condominium developments, mobile home communities, multifamily properties, hotels, and shopping centers due to the recent financial crisis and drop in property values.
Most recently Amicus Management was named a court-appointed receiver for two student housing projects in Kalamazoo near Western Michigan University that have a total of more than 340 bedrooms.
Yeomans may be best known throughout West Michigan as the court-appointed receiver who secured the cash and physical assets of 16 shell entities making up the Cyberco Holdings scam perpetrated by Barton Watson in Grand Rapids that was raided by the FBI and ultimately liquidated. The scam was highlighted on the “Fraud in Cyberspace” episode of CNBC’s American Greed national television show.
For more information on Amicus Management, please visit the company’s website or call (616) 954-2000.
Amicus Founder Highlighted in the Grand Rapids Press
Grand Rapids man builds growing business on others’ failures.
Matt Vande Bunte | The Grand Rapids Press
AMICUS OBAMACARE EVENT—Van Andel Institute
ObamaCare—Amicus/Foster Swift Event
April 18th at 4:30-7:00 PM
Van Andel Institute in Grand Rapids
Are you ready?
Light hors d'oeuvres and cocktails. Free valet parking.
Seating is limited. Contact Chad Razmus at (616) 301-8250.