Restructuring & Turnaround Advisory
Premier 1,700 acre mixed use Development
Results: Provided property management and advisory services for a high profile mixed-use, raw land parcel in a western market for the lender syndicate before and after foreclosure. Provided valuation services for the collateral; assisted with foreclosure needs; acted as a liaison to city and county government officials, councils and boards; renegotiated development and associated agreements; represented lenders in negotiating offers for the property.
Large Western Homebuilder and Developer
Results: Provided financial advisory services to the first lien steering committee holding approximately $300M in debt. Assisted in navigating through bankruptcy restructuring; provided financial oversight of the company during bankruptcy and advised the steering committee on strategy. Developed an overall understanding of the collateral and the metro market in order to manage the company as they emerged from bankruptcy.
Bankruptcy Advisory
A Lender Success Story
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Results: When a national homebuilder ceased operations, our client, a national bank, foreclosed on several properties across 5 major markets in the Southeast and Southwest U.S. Each property had its own set of unique issues which needed be addressed locally and with a hands-on approach. Carwin helped the client generate greater cash proceeds than originally expected in an accelerated timeframe. Carwin retained multiple exit options for the lender and foresaw risks that quickly moved to mitigate.
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Due Diligence, Construction Management & Disposition Services back to top
Large Regional Bank
Provided Due Diligence, Construction Management & Disposition Services
Results: Provided pre-foreclosure due diligence for an entire portfolio of communities developed by a large, distressed, Midwestern homebuilder. Obtained applicable agreements, ; developed cost-to-complete estimates, secured property, managed construction of partially completed inventory;, and marketed properties.
Strategic Advisory, Entitlements and Asset Management Services back to top
1,275 acre, 5,600 unit master planned community
Provided Strategic Advisory, Entitlements and Asset Management Services
Results: Carwin was retained to thoroughly evaluate and offer strategic advice on issues related to entitlement, development and market conditions while managing the properties on a day to day basis. Carwin executed its proprietary turnaround process that involved stabilizing the community. Once the stabilization phase was complete, Carwin moved into the ongoing management phase, designed to preserve and enhance each property, as well as to reduce carrying costs. Carwin is managing the asset, conducting regular budget reviews, evaluating taxes and valuations, exploring opportunities to revise development plans, and managing the relationship with the municipality and stakeholders.
Strategic Planning, Market Analysis and Revised Entitlements back to top
1,508 acre mixed use, master planned community
Provided strategic advisory service by analyzing the market demand and amending the existing zoning to match the market
Results: Carwin Advisors is currently working with the owners to analyze and amend the existing Planned Area Development Plan to allow flexibility in density, housing product and neighborhood design. The primary purpose of the zoning amendment is to include more flexible land use options to meet changing market demands that are anticipated over the next five to ten years and avoid having to amend the zoning multiple times to track market, product and lifestyle changes. Increased flexibility should translate into increased sales which will benefit all stakeholders. Since Asante is such a unique, high quality community, Carwin believes that having more home product options at a wider price range will increase sales and accelerate community growth. Another consideration for increasing sales is that much of the community infrastructure has been built and in order to attract residents to help fund the maintenance of the infrastructure, the zoning should be amended to provide flexibility to quickly respond to the changing desires of home buyers.
Strategic Advisory, Entitlements and Asset Management Services back to top
877 acre master planned community with over 2,200 future homesites
Provided Strategic Advisory, Entitlements and Asset Management Services
Results: Carwin was retained to offer strategic advice for a project in west Surprise, Arizona, that required considerable expertise to successfully address issues related to utility, entitlement and development. Carwin is currently engaged in representing its client's interests its client's interests with all public and private parties including managing complex agreements involving a number of nearby future developments.
Strategic Planning, Entitlements and Development Services back to top
2,200 acre master planned community
Provided Strategic Planning, Entitlements and Development Services
Results: Provided land development and engineering expertise. Carwin Advisors prepared a comprehensive infrastructure budget for a project with 240 acres of commercial property and 13,200 residential units. Provided valuation expertise, amended existing development agreements, created significant infrastructure cost savings, and future product adaptability.
Valuation back to top
Large Regional Bank
Results: Analyzed multi-million dollar portfolio in the southeast U.S. gulf-region slated to be auctioned as part of Section 363 process. Developed market-based valuation; advised senior managers on market conditions.
Development Services back to top
1,500 acre master-planned community with Town Center
Results: Managed engineering consultants; oversaw the design of sewage treatment facilities, Interstate highway interchange upgrades and a complete water facility including 17 well points; developed major infrastructure budget for property with 270 acres of town center and 7,000 residential units; prepared and negotiated project design guidelines and the master-plan development agreement.
