Focus Management Group

Real Estate Industry Experience

Commercial Real Estate Investor

Company:

Commercial Real Estate Investor

Situation:

The client was facing a liquidity crisis due to its inability to sell and refinance commercial properties in the current stressed marketplace. The portfolio consisted of two public non-traded REIT’s and approximately 24 million square feet of office, industrial, hotel and retail space including more than 20 regional malls, 10,000 apartment units and 20 regional and community shopping centers.

Focus Scope:

Focus Management Group was retained by a national real estate investor with over $10 Billion in outstanding debt.

Tasks Performed:

  • Thoroughly reviewed the Client’s complex ownership structure, financial projections and capital structure of each of its properties/businesses
  • Created a comprehensive restructuring plan for the Client’s properties and businesses that demonstrated the sustainability of the business models
  • Assisted the Client in the negotiation of support for the restructuring plans with the Client’s primary lenders
  • Assisted the Client in CapEx and cash committee meetings required by primary lenders
  • Developed an automated platform that allowed for better reporting capabilities of property performance for all concerned constituencies

Results:

  • Focus determined that the highest return to lenders would be achieved by maintaining the Company as a going concern to manage an orderly 12 month monetization of Backlog, Spec. and Model Units.
  • This process involved major headcount reduction, extensive elimination of excess overhead and negotiated reductions in trade payables.
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