DALLAS-Ann Hambly, founder and CEO of 1st Service Solutions, and Mike Meisenbach, founder of Asset Advisory Alliance, have launched 1st Equi-Debt Solutions.
Meisenbach will serve as CEO of the new company, which will help CMBS borrowers find equity and debt to pay off non-performing commercial real estate loans as part of their debt restructure. Early next year, it will launch a $100 million to $200 million fund.
Hambly tells GlobeSt.com that 1st Equi-Debt Solutions takes up where 1st Service Solutions leaves off. 1st Service Solutions serves as a borrower advocate and helps borrowers work with special servicers to restructure their CMBS debt.
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