NREI: Playbook for Managing Distressed Assets in Wake of COVID-19
Crescit’s CEO, Joe Iacono, and head of structuring and credit, Kim Diamond, recently penned an op-ed in NREI outlining a playbook for how owners, borrowers and investors can maintain their business operations—and even grow—in the wake of COVID-19. While this unprecedented economic climate has overturned business plans across the industry, the steps that stakeholders take today will be instrumental in the long-term success of their business.
“Extreme economic volatility has hit our industry before. By executing transactions and restructurings using transparent and consistent methodologies for asset valuation, history has demonstrated that owners, lenders and investors have been able to weather economic storms and maintain—and in some cases expand—their portfolios.
In coordination with capable, experienced advisors, asset owners and capital providers that now find themselves in distress should be able to withstand a disruption of revenues and identify a stable path forward by following this step-by-step playbook.”
Read through the step-by-step instructions, as published in National Real Estate Investor, here.