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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

Standalone Assets - Borrower Representation: Distressed Retail Assets

Standalone Assets - Borrower Representation: Distressed Retail Assets

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