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S&Ls: A BOXER EYES A K-O COMMISSION
By MARK M. COLODNY

(FORTUNE Magazine) – Joseph E. Robert Jr., a former Golden Gloves amateur boxer who still stays trim by working out in the ring, expects to pocket a hefty purse when the Resolution Trust Corp. begins to unload $100 billion in real estate assets held by troubled savings and loans. Robert, 38, is CEO of J.E. Robert Cos., an Alexandria, Virginia, outfit he founded in 1981 to turn around and liquidate distressed properties. He gets 2% to 3% of the sale price. Robert got into this business after lenders foreclosed on a Maryland housing developer for whom he worked as a salesman. Today he either manages or is looking for buyers for assets worth $6 billion. He wants to sell a Provo, Utah, church that was built on spec, but has unloaded a hole in the ground in Dallas that was to have become a high- rise country club. Robert concedes that such holdings have flaws. Says he: ''Our assets tend to be an eight on the Richter scale.'' Some 80% of the assets Robert now handles came to him from government agencies, and he says this will help land some of the failed S&L business. The Resolution Trust is already putting out ''SOS's'' -- solicitation of services -- to find people to help sell its distressed properties. Besides, says a competitor: ''If the system ever gets on track, everyone will have more than enough.''