Shorewood Special Situation Group
The principals of Shorewood have extensive experience in institutional asset management particularly in distressed debt re-structuring, asset recapitalization, foreclosure, auctions, management takeover and litigation surrounding troubled assets. This expertise covers all parts of the capital stack including senior and junior debt, construction loans, securitized debt, mechanic liens and taxes. Our Special Situations group works in conjunction with JLL, a global real estate services public company, on select, large office projects that require repositioning and recapitalization. Michael Shenot, Managing Director of JLL, and head of its public institutions group, serves as the point person with Shorewood executives in this effort.
In evaluating the impacts of the Pandemic, inflation and a dislocating rise in interest rates, we see a major uptick in default rates of loans held by U.S. institutions in 2023 and beyond. We believe high touch asset management will become a key space for Special Situations to selectively take on workouts and re-structurings that will inevitably rise amongst our existing and future institutional partners and clients. We provide methodical real estate based forensics, rapid management and vendor transition, in depth financial analysis and both short and long term solutions including capital infusions and acquisition/disposition for troubled assets from a lender/owner’s perspective. We typically work on a fee basis early in the process and will be active in the capital stack if necessary to reach final solutions for our clients.