Amid the worst real estate downturn since the Great Depression, how does a highly leveraged homebuilder find the cash critical to its survival?

The HMS Team went to work immediately to improve cash flow and downsize the company, while developing a plan credible enough to persuade lenders to advance additional capital. The lenders listened. In all, they advanced $55 million, enabling the Client to settle its past-due vendor balances and finish construction of partially completed developments.

HMS successfully restructured $850 million of a total $900 million in loan obligations, creating a way forward for the Client. As a result, Reynen Bardis sold over $150 million in new homes that year and continued work on 16 of the 25 develop-ments in their portfolio.



To learn more, please
click here