Estudios de caso

Recuperación del 100% durante el proceso de administración judicial de un complejo de viviendas para personas de bajos ingresos

J.S. Held adquiere Shechter & Everett para expandir los servicios de contabilidad forense en litigios de derecho de familia en Florida

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Inicio·Recuperación del 100% durante el proceso de administración judicial de un complejo de viviendas para personas de bajos ingresos

La situación

The owner of a 48-unit, fully occupied, low-income apartment complex in East Los Angeles defaulted on its mortgage. The special servicer exercised its rights and recommended our experts to serve as the Receiver. At the time of our takeover, the property had been mismanaged and was in poor condition.

Following our experts' completion of repairs and clearance from Los Angeles City agencies, the Housing Authority of the City of Los Angeles (HACLA) expressed interest in purchasing the note secured by the apartment complex to preserve the property's affordable housing status. Ultimately, HACLA acquired the note at par, resulting in full repayment to the lender, release of the borrower's obligations, and preservation of the affordable housing units, which is a mandate from the City's mayoral office.

Nuestro asesoramiento

As Receiver, our experts helped achieve a 100% recovery for the lender by retaining a new property manager, remediating the property, improving cash flow, and helping coordinate HACLA’s purchase of the note from the lender at par, thereby assuming ownership of the affordable housing complex.

Los obstáculos y nuestras soluciones

  • The property was in disrepair.
    • Our team transitioned property management responsibilities to a new company while retaining the on-site manager to support continuity.
    • We promptly worked with the new property manager to secure the property and obtain all service contracts and tenant leases.
  • Rents were below allowable limits, and no increases had been implemented for over one year.
    • Notices of the management change and 30-day rent increases in compliance with California Civil Code Section 827 were delivered to all tenants.
    • The rent increases improved operating cash flow.
  • Multiple Los Angeles City agencies inspected the property. The Los Angeles Housing Department (LAHD) identified widespread code violations and issued a 26-page report outlining hundreds of deficiencies, including a requirement to replace all 48 toilets to meet City standards. Additionally, a leak and resulting flood temporarily displaced tenants in three units.
    • All remediation work from the inspections and flooding was funded through property operations. No lender advances were required.
    • We engaged qualified, licensed contractors to complete the necessary repairs and bring the property into compliance.
    • Our team oversaw all remediation efforts, and the units were returned to service in under four months.
    • Tenants were relocated to temporary housing as needed.

Áreas de práctica relacionadas

> Sindicaturas
Los tribunales federales y estatales, los acreedores y los asesores legales eligen a nuestro equipo para actuar como Síndico de empresas y entidades inmobiliarias en dificultades. Estabilizamos las operaciones y el flujo de caja, protegemos los activos del negocio y buscamos métodos para maximizar la recuperación financiera. Nuestro equipo multidisciplinario aplica una amplia experiencia en reestructuración e industria como Síndico para tomar el control de compañías que enfrentan problemas financieros, operativos y legales.

 

> Soluciones para situaciones de crisis
Ofrecemos soluciones integradas para empresas en dificultades o insolventes que maximizan la recuperación, mitigan riesgos y restauran el valor de la organización. Nuestros expertos son contratados para ayudar a las organizaciones en crisis a estabilizar sus operaciones, proteger los intereses de las partes involucradas y ejecutar estrategias de recuperación. Adoptamos un enfoque operativo que va más allá del balance general para minimizar un mayor deterioro y construir un camino hacia un crecimiento sostenible.

CONTACTOS PRINCIPALES

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