JLL Teams with Workout Firm CPS on Underwater Retail Debt
New York-based workout firm Case Property Services (CPS) has tapped JLL as exclusive advisor in CPS’ efforts to resolve distressed debt of underwater retail properties. Leading the initiative for JLL will be retail lead Larry Kilduff.
“For close to nine years, we have been executing our proprietary workout strategies that have outperformed the market,” said CPS managing partner Shlomo Chopp. “JLL’s support and market knowledge will help us increase our capacity and property turnaround capabilities to provide our clients and their lenders the confidence that an optimal resolution is being proposed.”
At JLL, Kilduff observed, “”While a property may be distressed, our national retail services group can clearly illustrate what lender concessions may be required to redevelop the property and realize greater recovery for all parties involved.”
Chopp added that with JLL’s platform providing support, “CPS is a vertically-integrated restructuring firm focused from the inside out.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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