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Borrower Representation

Standalone Assets

Distressed Retail Assets

Background: Ajax was engaged by the owner of five, stand-alone, troubled retail assets with different lenders Each asset required a unique strategy, separate underwriting and specialized lender negotiations.

Restructuring: Assignment required intense client and investor management With discipline, attention to detail and strong organization, Ajax was able to negotiate separate agreements with each lender and complete $100 million in overall financing/ sale transactions. 

Outcome: Complete recapitalization with additional new equity and promote structure, a hope note structure, an incentive management structure, transaction restructuring based on a new lease and a complete refinancing with a new lender. The client retained ownership of the majority of the assets. Ajax created favorable outcomes by developing strong relationships with the client, their primary investors and each lender.

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