6/24/2010 – Focus Appointed Financial Advisor to the Ch. 11 Trustee of American Housing Foundation, Inc.
June 24, 2010 – Focus Management Group USA, Inc. (“Focus”) has been appointed Financial Advisor to the Chapter 11 Trustee of American Housing Foundation, Inc. (“AHF”) under an Order entered by the United States Bankruptcy Court for the Northern District of Texas.
AHF is a 501c3 organization that owns and operates 13,700 residential units in Texas cities as well as in California, Arizona, Mississippi, Oklahoma, Kentucky, Georgia, South Carolina, North Carolina and Florida. The Company filed for Chapter 11 bankruptcy protection on June 11, 2009.
Focus has been appointed by the Court to review AHF’s operations and capital structure for each of its 78 properties, to develop a comprehensive reporting and cash management system for the Company and to assist the Trustee in the preparation of a comprehensive restructuring plan.
Jay Kelley, Managing Director of Focus Management Group’s Real Estate Practice, is leading the Focus team overseeing the project. Kelley is a seasoned finance professional with more than 25 of years experience in all aspects of corporate finance.Alan Weiner, a Senior Real Estate Consultant, is also assisting on the case. Weiner brings over 25 years as a senior account executive as well as extensive experience in affordable housing projects.
Kelley and Weiner are based out of the firm’s Tampa, FL office and can be reached at (813) 281-0062.
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