Trinity Church, Manhattan
Advised and executed a 76-year estate for years Joint Venture between Trinity Church and Norges Bank, subsequently marketing and selecting Hines to invest and manage operations of the entire portfolio.
Seritage Growth Properties
Advisor to the Board of Directors and CEO. Helped design and implement a tax efficient strategy to sell substantially all of the assets of the company, including conversion from a REIT to a C-Corp. Brought in additional resources on a contract basis to aid in the liquidation plan.
New York REIT
Led the strategic wind-down of New York REIT, overseeing the complex disposition of a 19-property, $2 billion portfolio of Manhattan assets. Navigated a high-profile liquidation process to maximize shareholder returns through disciplined execution, market timing, and asset-by-asset value optimization.
Toys “R” Us
Owner Board Representative for a one third ownership stake in the public to private leveraged buyout of the global Toys ‘R’ Us business alongside Bain and KKR. Lead architect in designing a unique and complex capital structure including multiple opco- propco and high yield real estate-based financings. Over a 15-year period, helped oversee both the growth, and ultimately, the complex restructuring and liquidation, by managing stakeholder negotiations and governance across a portfolio of properties spanning 133 countries and diverse legal frameworks.
Americold Realty Trust
Owner Board Representative for the majority equity owner in the private company Americold Realty Trust. Designed and implemented a two-stage strategy to bring in a new investor (Yucaipa) and ultimately sell the entire business to Yucaipa. This marked a successful investment for the original equity investors and helped Yucaipa create a vehicle for a public company now traded on the NYSE.
Helmsley Portfolio
Negotiated the fair market value of the Helmsley portfolio in connection with its inclusion in ESRT’s IPO, ensuring institutional-grade compliance and transparency ahead of the REIT’s public offering while maximizing legacy stakeholder equity.
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Debt & Equity Restructuring Highlights
LNR Partners
Owner Board Representative for a preferred equity investment in LNR when it was privately owned by Cerberus. Led negotiations in the ultimate restructuring and new money investment which resulted in the preferred equity investor becoming the largest common equity investor, alongside Istar and Oaktree Capital. Identified the new CEO’s who led a successful turnaround. Played a lead role in negotiations with Starwood, which ultimately bought the company resulting in a profitable return of all old and new money capital invested.
666 Fifth Avenue
Led the successful restructuring and long-term extension of over $1.2 billion of CMBS debt with the special servicer and simultaneous new money investment for a 49.5% in the ownership of the building. This allowed ownership the time and opportunity to create long term value for the property while the new money investor was able to successfully exit the investment.
JW Marriott, Chicago
Advised Korean mezzanine lenders on restructuring strategies for the 610-key, luxury hotel in downtown Chicago.
The Public Hotel, NYC
Assisted Korean mezzanine lenders with capital restructuring, resulting in full repayment of the mezzanine.
The Box Hotel, Brooklyn
Represented ownership in CMBS negotiations.
1 St. Marks Place
Advised a Canadian family office on preferred equity restructuring and valuation on a yet to be built office building to determine appropriate “good money after bad” investment decision.