Over the course of three years, Chimney Corner served as adviser to the Owner of a 216 unit HF community that ran into major problems when 97% complete.  Through negotiations with the Lender, HUD, the General Contractor, and others, we directed the completion of the improvement, put new management in place, oversaw operations through lease-up and stabilization, and negotiated a loan modification that resulted in the project mvogin forward without loss to the Lender and with a continued ownership interest by some of the original principals.

We were engaged to evaluate two very differend subdivision loans/developments made by a SC Bank.  The two loans represented dramatically different situations, and the recommendations made were tailored to those differences.  In one case, we negotiated an offer from some of the Guarantors for a purchase of the Property at an amount that represented a recovery over the written down loan amount.  In the other, we recommended the Bank support a creative proposal put forth by the Developer to allow completion of infrastructure and preserve value, broadening the marketability of the completed product.

We were asked to help evaluate strategies available to create a resolution for an affordable housing non-profit that would allow it to emerge from Bankruptcy and move forward with its original mission.  This assignment included taking control of the non-profit and selecting a new Board.  After meeting with various constituents in the process, the Plan was approved and the entity dismissed from all court actions.