2013-03-18 17:18:45 - Madison Advisory Group LLC advises on the restructuring of 16 creditor, $100+ million court approved debt restructuring for a New York based private real estate investor.
Madison Advisory Group LLC completed an advisory assignment to restructure $100+ million of debt obligations with a 16 creditor group (including major banks and private equity funds) in a non-bankruptcy, court approved payment plan to repay all principal and a substantial majority of the accrued interest owing. The debt obligations encumbered interests in several operating companies as well as a variety of commercial real estate properties.
According to Steven Kirschenbaum, principal of Madison Advisory Group, who directed the debt restructuring advisory assignment, “The agreement by the lender group with the investor, to restructure the investor’s debt was the result of a detailed and laborious process with a disparate group of lender’s that, to their credit, saw the value in their
borrower’s portfolio of assets, and agreed to extend the time of repayment over a period of years. The lender group came together and agreed to a repayment plan that, in the end, will benefit all of them, and allow the investor to get back to business.”
Madison Advisory Group LLC is a New York City-based commercial real estate advisory firm. Founded in 2006, Madison Advisory works with private owners and investors to acquire, finance, and develop real estate investments, principally in the New York City area.
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About Steven Kirschenbaum:
Steven Kirschenbaum serves as an advisor to real estate owners for the past 25 years in all aspects of the acquisition, development, construction, management, leasing and sales of multi-family residential properties. He received a law degree from the University of Toledo College of law and Brooklyn Law School and an undergraduate degree from the School of Management (now known as the Whitman School of Management) at Syracuse University.
Learn more about Steven Kirschenbaum at www.stevenkirschenbaum.com