ORLANDO-Retailer One on One held its first Distressed Asset Conference at the Orlando Hilton this week. The event aimed to educate more than 1,500 retail small business owners and entrepreneurs on the legal, tax, and technical issues associated with debt restructuring, avoiding bankruptcy and private debt placement.
The panel “Opportunities in Distressed Debt” was moderated by Andrew Wright, CEO and managing partner of Franklin Street. Brad Peterson of HFF, Bill Eshenbaugh of Eshenbaugh Land Co., Michael Milano of Colliers Arnold, and Jeff Sweeney of Grubb & Ellis, were speakers.
“Everyone who owns or services real estate has had their challenges over the past several years,” Wright said. “In order to make it through, it is important that you focus on your offense as well as your defense.”
Panelists advised a full conference room of listeners to be prepared with their money because lenders will not wait. Others takeaways from the panel include the importance of networking, the fact that terms are as important as price as lenders look for surety of close, and patience.
“I felt as though I was having the same conversation I had with the multifamily housing group 18 months ago,” said Wright. “It was the same context and everyone had the same concerns. I believe that if we look to the professionals that handled the multihousing asset workouts, this distressed cycle in retail has the opportunity to be much shorter.”
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