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Real Estate & Home Building

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Due to the recession, the commercial real estate sector is facing significant head winds from weak business fundamentals, such as high vacancy rates, negative absorption, flat rental rates, excess supply created during the construction boom, and high leverage both in the commercial loan and CMBS markets.

In the residential real estate sector, the soft market posed significant challenges to homebuilders. In both cases, the improvement in underlying fundamentals as well as confidence in the economic recovery has resulted in increased values and market activity recovery.

Conway MacKenzie has a wealth of experience working with distressed real estate situations and an impressive track record of successfully assisting real estate related clients. We also excel at helping healthy companies take advantage of market opportunities through performance improvement and transaction strategies. Using our team to assess the economics of real estate portfolios, raise new capital, or to negotiate with existing capital partners, we are able to help clients by maximizing value and selling, acquiring or repositioning assets for long-term growth.

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Executing a Plan to Build a Healthy Foundation for the Future

The Engagement

Conway MacKenzie represented a large homebuilder during the peak of the housing crisis.

Our Role

With over $140 million in debt across 13 separate lenders, Conway MacKenzie helped the company manage its cash flow, maintain positive liquidity and prepare a comprehensive restructuring plan for each of the lenders.

The Result

After achieving buy-in from all of the lenders on a short-term plan, Conway MacKenzie assisted the company with a two-pronged restructuring plan, which involved an orderly liquidation of various assets, and a competitive capital raise process which ultimately resulted in three letters of intent and successful transactions, enabling the company to restructure and continue operations.

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