Case Studies
J.S. Held Strengthens Forensic Accounting Expertise for Marital and Commercial Disputes with Acquisition of Forensic Accountants & Consultants
Read MoreA 75,000-square-foot office building in Seattle’s South Lake Union district entered custodial receivership with approximately 50% occupancy and projected tenant attrition. The property required operational oversight, financial controls, and a strategy to preserve its value while pursuing a potential sale in a challenging office market.
As custodial receiver of the office building, J.S. Held’s experts assumed control of rents, bank accounts, leases, records, contracts, and operational systems. Our team managed building operations, maintenance activities, vendor relationships, budgeting, financial oversight, and reporting requirements to preserve the value of the receivership estate.
Concurrently, we established a plan to optimize the property’s value and led a targeted marketing process to generate interest from both office operators and developers pursuing multifamily conversions. The property was ultimately sold through a competitive process at a premium to a developer planning a $60M office-to-multifamily conversion.
> Receiverships
Federal and state courts, creditors, and legal counsel choose our team to serve as Receiver of distressed businesses and real estate entities. We stabilize operations and cash flow, safeguard business assets, and pursue methods to maximize financial recovery. Our multidisciplinary team applies a wide breadth of restructuring and industry experience as Receiver to take control of companies facing financial, operational, and legal issues.
> Solutions for Distressed Situations
We deliver integrated solutions for distressed and insolvent businesses that maximize recovery, mitigate risk, and restore enterprise value. Our experts are retained to help distressed organizations stabilize operations, protect stakeholder interests, and execute turnaround strategies. We take an operationally-focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth.
