GRAPEVINE, TX-1st Service Solutions has formed an alliance withReznick Restructuring Solutions (RRS) to provide full-service loanrestructuring, recapitalization and tax advisory solutions. Foundedin 2005, 1st Service Solutions was the first firm dedicated toserving as a borrower advocate in loan restructuring andassumptions. Since then, the company has resolved more than $3billion in loans for its clients.

|

RRS is an affiliate of Reznick Group, a top 20 national CPAfirm. It works primarily with commercial real estate companies tohelp the restructure corporate debt and offers services includingvaluation and tax advisory.

|

Together, the two companies can provide their clients a broaderarray of services, says Todd Moore, senior managing director at 1stService Solutions. In particular, 1st Service Solutions' clientswill have access to RRS' tax advisory and valuation team, while RRSclient will benefit from 1st Service Solutions' expertise in CMBSworkouts.

|

For example, a CMBS borrower might work with 1st ServiceSolutions to help restructure his loan, but would work with RRS todetermine the tax implications of the restructuring. Likewise, acommercial real estate firm might work with RRS to recapitalize itscorporate coffers, but would need help from 1st Service Solutionsif it had any special purpose entities or LLCs that owned realestate with conduit notes on it.

|

"In the past, we would refer our clients to other people if theyneed these services, and now we can provide these services in amore comprehensive way," Moore tells GlobeSt.

|






|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.