Already the company has landed about $100 million in assignments, according to Stephen Carboni, who along with Shawn Krantz is one of the group's top principals. "We are not completely abandoning our former business model--but this will definitely be our primary focus going forward," he tells GlobeSt.com.
Services offered by the group will include land acquisition, development and construction loan workouts; non-performing loan reviews; asset and collateral analysis; comprehensive development of workout plans; loan valuation and NPV analysis; negotiating discounted payoffs and loan guarantees; developing bankruptcy avoidance/alternative strategies; asset management plan development; recapitalizing projects by contributing new equity; and expert witness testimony.
In its previous incarnation, the company has had a hand in distresseddebt: Krantz and Carboni have advised on more than $3.1 billion of distressed debt and equity restructures. They have also handled some$8.5 billion in transactional real estate experience over the past 25 years, including several deals in the DC area. To cite just one example, last year Brownstone Capital sold 9121-9129 Gaither Rd., a bulk warehouse in Gaithersburg, MD for $11 million, after acquiring it for $5.4 million in 2002.
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