
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.”
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