Case Studies
J.S. Held Strengthens Forensic Accounting Expertise for Marital and Commercial Disputes with Acquisition of Forensic Accountants & Consultants
Read MoreA multi-building, one-million-square-foot office campus in Northern California was placed into receivership and required operational oversight, tenant retention efforts, financial management, and a disposition strategy to preserve and maximize value. The property’s performance depended significantly on retaining its anchor tenant while positioning the asset for a competitive sale process.
J.S. Held was appointed Receiver and assumed operational control of the office campus. Our team managed leasing negotiations, including a major lease extension and modification with the anchor tenant, while overseeing property management, financial reporting, and capital planning. We then marketed the property through a competitive sale process that generated interest from more than 5,000 investors. The property ultimately sold for $45.3M, resulting in a $40M+ recovery for the secured lender. Throughout the engagement, we maintained transparent accounting, ensured compliance with receivership requirements, and successfully transitioned operations to the new owner.
Our Obstacles & Solutions
The anchor tenant’s lease was nearing expiration, and its future space requirements remained uncertain.
The receivership property included two of the office park’s four buildings and its only parking garage. However, interconnected mechanical systems served the entire campus, and the ownership association had a complex structure.
> 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.
