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Confronting Crises: Asset Management Turnarounds General Partner Replacements

Confronting Crises: Asset Management Turnarounds General Partner Replacements. Misappropriation of funds Inability to honor performance guarantees Bad health/Retirement. Due Diligence. Audits YTD Financials Prior year F inancials LPA LURA Capital Stack Physical Inspection.

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Confronting Crises: Asset Management Turnarounds General Partner Replacements

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  1. Confronting Crises: Asset Management Turnarounds General Partner Replacements • Misappropriation of funds • Inability to honor performance guarantees • Bad health/Retirement

  2. Due Diligence • Audits • YTD Financials • Prior year Financials • LPA • LURA • Capital Stack • Physical Inspection

  3. Meeting of the Minds • What problems need to be addressed – can we assist • What’s in it for us • Agency issues • Operating performance • Latent defects • Reserves • Mitigating risk

  4. Case Studies A “YES”……….. 5 4% transactions Scattered site Varying compliance periods Significant deferred maintenance Over leveraged Insufficient cash flow And a “NO”………. 9% transaction – two phases Breakeven operations Deferred maintenance 2 GP’s and a 3rd “special” Threatened litigation

  5. The Turnaround • Agency relationship and communications • Property management • Physical conditions – minimizing partner cash calls • Future recapitalization

  6. www.gchp.netlaborde@gchp.net 1610A Oretha Castle Haley Blvd, New Orleans, LA 70113 504 525 2505

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