An Experienced Team Leads Our Successful Real Estate Restructuring Advisory Practice
Our industry expertise and geographic diversity provide our clients with a distinct competitive advantage. We have the ability to help clients quickly and effectively analyze multiple restructuring and valuation scenarios across the country or within a particular region. Many of these same skills have been used recently to help companies acquire other companies. Here are a few of our largest restructuring assignments.
Successful $1.0+ billion bankruptcy restructuring and eventual sale
Developed assumptions and created a cash flow and valuation model to help a Bank Group and home builder restructure more than $1.0 billion in debt on 170 neighborhoods in 17 MSAs. Lot liquidation plus completion of 40% of the homes resulted in a successful restructuring that allowed the Bank Group to take ownership and eventually sell the company. The company emerged as a top 20 home builder.
Successful publicly-traded home builder restructuring
Developed assumptions and created a cash flow and valuation model to help a distressed debt purchaser consortium restructure a publicly-traded home builder, taking the builder private and monetizing the cash from some of the 51 actively selling neighborhoods, and liquidating others.
Liquidation of large, private builder in bankruptcy
Valued every asset and ran cash flows on complicated JV structures for one of the largest private builders in America, advising the Unsecured Creditors Committee on the Builder’s bankruptcy plan, which resulted in an asset liquidation.
Successful land developer bankruptcy restructuring and eventual IPO
Forecast cash flows on 181 residential properties involving more than 20,000 lots and 600 acres of commercial land, resulting in successful DIP (debtor-in-possession) financing in bankruptcy and an eventual IPO.
$3.0 billion distressed loan valuation investment avoided
Valued $3.0 billion of construction loans, including cost to complete, likelihood of repayment and credit worthiness of the borrower, resulting in our thankful client deciding not to do the deal.
$1.0 billion+ par value loan purchases
Helped value more than $1.0 billion of residential and commercial real estate loans in multiple pools, assisting in the creation of one of the most successful distressed asset buying companies in the U.S.
Successful $300 million unsecured revolver restructuring and eventual IPO
Forecast cash flows and debt service on more than 100 debt-financed home building communities and 24 apartment complexes, resulting in a complicated restructure that kept the builder out of bankruptcy and maximized the lender’s recovery. The builder went on to a successful IPO many years later.
Distressed office portfolio valuation
In only 10 days, we analyzed a 9 million square foot portfolio of Class A office buildings to help a distressed debt buyer with their valuation.
Public home builder restructuring
We guided the lenders through the restructuring and eventual liquidation of a publicly-traded home builder.
Distressed public home builder review
We evaluated the assets of a publicly traded home builder for an investor who purchased the bonds and injected capital into the company, eventually taking control of the company and selling it to another builder.
Resort and land developer restructuring
We guided the buyers of the distressed debt through a $900 million+ restructuring that involved selling lots, ramping up an apartment business, and repositioning a resort.
Publicly traded developer restructuring
We valued the assets and income-producing amenities for a publicly traded developer, helping our client understand the values and resulting them in selling their position.
Insurance company acquisition
Provided market intelligence and target company reputation assessment for the potential acquirer of a construction completion insurance firm.
Regional bank acquisition
Evaluated the collateral and the strength of the borrowers to help guide underwriting assumptions to evaluate cash flows from outstanding loans related to commercial retail and office properties, existing apartments, and land development loans.
Integrity Research Compliance Accreditation
We have received an Integrity Research Compliance Accreditation, which affirms that our company’s research compliance controls comply with industry best practices.
Accreditation demonstrates a research firm’s commitment to compliance best practices. To receive accreditation, research firms undergo due diligence from Integrity Research. Accredited firms must not only have appropriate policies in place but also continually take steps to ensure that policies are understood and practiced.
In achieving accreditation, we demonstrated that we adhere to each of Integrity Research’s Key Compliance Controls for housing industry consulting firms as well as a majority of overall best practices for political intelligence firms.
Best practices are based upon industry surveys, recent case law, regulator sentiment, applicable laws, rules, and regulations and are intended to reduce risks related to confidential information as well as other compliance-related risks.
If you would like to learn more about our accreditation, please contact Don Walker.
Contact us to learn more about our restructuring advisory services.
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