Crescit Capital Strategies Adds Tactical Rescue for Distressed Assets to Its Line of Services
Crescit Capital Strategies announced today that the commercial real estate finance platform has added tactical rescue for distressed commercial real estate assets to its existing business. Guided by a leadership team with more than 90 years combined experience navigating commercial real estate investments, as principals, through volatile economic conditions, Crescit has begun engaging stakeholders for consultation on debt transactions and restructurings for assets significantly impacted by the Covid-19 pandemic.
“Our first concern is obviously for all the individuals impacted directly by this virus, as well as the brave health professionals combating it,” said Joseph Iacono, CEO of Crescit Capital Strategies.
“The virus is also affecting every business sector to varying degrees and commercial real estate is an expansive industry closely connected to the global economy,” Iacono added. “To support owners, lenders and investors connected to properties that have seen their business plans knocked off course by this pandemic, Crescit is adding tactical asset support and assistance to its product offering.”
The expansion of services is focused on helping borrowers navigate through often complex servicer and securitization frameworks. In response the Covid-19 pandemic, Crescit added to its core services:
- Workout solutions for troubled Construction, Bridge and Term loans
- Entity Restructuring and Recapitalization
- REO Asset Management
- Loan Portfolio Purchases
- Analysis of Mortgage-Backed Bonds
- Opportunistic Asset Acquisitions
Crescit was founded in 2018 as a commercial real estate finance platform providing highly structured and flexible debt products across the capital stack. Crescit’s bridge lending program, which has already served clients in a dozen states and growing, provides loans of $15 million to $75 million.
In advising owners, lenders and investors holding distressed assets, Crescit follows a step-by-step approach building off of the leadership team’s previous experience managing and resolving distressed assets through previous volatile economic cycles, including the Great Recession, Russian Debt Crises and S&L loan scandal. The distressed asset program is structured to help participants navigate through the complexities of servicer and securitization structures. Specifically, the firm provides guidance to:
- Understand the Capital Structure and Participants
- Reassess and Confirm Your Goals
- Define Project Needs
- Establish a Dialog with Counterparties
- Develop an Exit
- Implement a Customized Plan
“Extreme economic volatility has hit the industry before and the stakeholders who survived did not panic or retreat,” Iacono noted. “Through an honest review of business operations, effective dialog with counterparties, and execution of a well-defined plan, owners, lenders and investors can overcome the obstacles presented to their business by this current crisis and even identify opportunities for future growth.”