Remington Capital – Andy Bogdanoff

We are often presented with clients who have had their financing requests turned down one or more times. Notwithstanding this we are often able to arrange financing for these clients. Very often the client may have failed to present their financing request in the best light or they just did not approach a capital source that was right for them. Our value add is that we can present the transaction in its most favorable light and do have the right capital sources.

We are pleased to announce we have recently entered into an agreement with a business consulting firm and a law firm to offer a new service. This program is designed to assist companies which are financially troubled and or have had legal proceedings either currently or pending regarding unpaid creditors. if you know of companies that are facing these types of problems we might be able to help

I am proud of the way our team at Remington is responding as we roll-out the Distressed Owner Recapitalization Program across the US.  Through our best brokers we are identifying and helping distressed commercial property owners and developers who can benefit from recapitalization of their existing financing. So much discussion today is about new owners going after distressed properties – how about existing investors?  Shouldn’t we be working for them, too?

The problem facing us is historic. The supply of commercial real estate debt has shrunk dramatically.  Further compounding the liquidity problem is the fact that most commercial banks are not in a position to extend credit to new borrowers because they are struggling to manage their deteriorating commercial loan portfolios. 

The continued lack of liquidity in the system has driven yields to unprecedented levels.  The high cost of funds results in more distressed owners having difficulty refinancing their existing debt. And property values are down significantly. These dynamics create problems for owners when they seek to refinance their properties.

The looming $1.2 trillion catastrophe for the U.S. banking system and economy can be avoided if our industry works together to protect current investors at least to some degree so that they at least will benefit from when the market does eventually turn back up.

If you have questions on how we can help with recapitalizing distressed owner debt, please give us a call in any office and we’ll be happy to help. We’re also starting web seminars beginning next week – please ask if you haven’t received information on these.  Andy Bogdanoff – Chairman, Remington

The commercial real estate industry is a disaster waiting to happen. With $1.2 trillion in commercial debt due to mature by 2013 and with U.S. banks in a deep liquidity crisis, real estate owners across the country are between a rock and a hard place.

Remington is doing something about it. To assist distressed owners and developers, Remington is delivering an investor-driven recapitalization program that pulls from private and institutional banking sources of capital. We’re leveraging our second-to-none access to commercial capital to support brokers and their clients in a tough situation.

The new program ties together the expert capital advisory services of Remington with a nationwide network of well-funded investors that are ready, willing, and able to recapitalize troubled commercial real estate assets.

Call our team for more information. If you’re a broker looking to more effectively support your client base, let’s get you into program so that you and your clients can benefit as soon as possible.

In my 35 years in this industry, rarely have I seen a time of greater need. Let’s work together to get us back on the right track.  Thank you.  Andy Bogdanoff

Much of the news in the commercial real estate industry today focuses on investor opportunities to acquire distressed debt. What about the troubled owners? What relief can be provided for distressed owners?

Remington works with these owners every day and we want to make a difference for them.  Therefore we’re introducing the Remington Distressed Owner Recapitalization (DOR) Program that focuses on helping troubled owners and developers.

The Capital Markets and Structured Finance Groups at Remington are offering daily solutions to the on-going liquidity crisis by providing access to more active funding sources across the capital stack. When combined with espert advisory services, the new program positively impacts owner recapitalization.

1. For experienced owners of existing income-producing properties looking to refinance, the Distressed Owner Recapitalization Program offers access to investors that will purchase the note from the bank at a discount. Owners will continue to make the original paymetns to the new investor and participate in the up side when values increase.
2. For the experienced developer of a partially completed project that needs capital to finish and operate the property, Remington has access to investors that will purchase the note from the bank at a discount, allowing the developer to complete the project and operate the property. The developer will continue to make the original payments to the new investor and participate in the upside when the property values increase.

We look forward to working with you as we introduce this new program in October.