Mana, best known for his downtown Miami and Wynwood real estate ventures, acquired McArthur Dairy's South Florida facilities for $16.5 million in a bankruptcy sale.
Thirty percent of the 125 issuers S&P Global Intelligence rates in the retail and restaurant sectors are now rated 'CCC+' or lower, implying at least a 1-in-2 chance they will eventually default.
The initiative is headed by Ron Bloom, who helped to restructure the automobile industry on behalf of the US government during the 2008 financial crisis.