Savanna, a real estate investment manager based in New York City, has recently introduced Savanna Advisory Services (SAS), a fee-based restructuring advisory unit. This unit offers expertise in restructuring and planning as well as full execution of business plans for lenders and other participants in the commercial real estate market.
Currently, SAS is working on assignments for a global bank involving a major office building in NYC and for a debt fund with an underperforming mixed-use redevelopment project. With over four million square feet of previous experience in property restructuring with 14 different lenders and joint venture equity partners, Savanna is well-equipped to handle complex restructurings.
According to Nick Bienstock, CEO of Savanna: “The past three years of COVID-19 challenges coupled with two years of illiquidity in interest rates and capital markets have put immense pressure on property investments. As we approach 2024 – when crucial decisions must be made – there is high demand for groups like SAS that can provide guidance on distressed properties through developing new business plans backed by an experienced team.”
