Representative Experience

Expertise in Receivership, Real Estate and Turnarounds

 

Elliott Bay Asset Solutions offers a unique blend of real estate, receivership, turnaround and loan workout expertise to provide solutions for complex real estate and business challenges. Each Elliott Bay partner brings decades of experience in their respective fields as shown in these representative examples of their work.

Receivership

  • Supervised liquidation of a $93M distressed loan and property portfolio including completed and under-construction commercial and residential buildings and vacant land, as Chair of the Investors’ Committee in bankruptcy.
  • Supervised liquidation of an $85M/year gross revenue operating company as Executive in Charge in bankruptcy, including completed and partially completed retail stores.
  • Designed and executed an extensive work out plan with 27 lenders for an $85M investment portfolio comprised of 90 real estate partnerships and venture capital company investments.
  • Led the turnaround of a company with office buildings, condominiums, and hotel properties on the Seattle, Tacoma and Portland waterfronts valued in excess of $175M.

Turnarounds and Loan Workouts

  • Led the turnaround of a company with annual revenues of $100M per year and 550 employees that supplied underground drilling services to major electric utility companies throughout the U.S.
  • Returned chain of eight Seattle-based restaurants to profitability and then sold each asset individually.
  • Managed corporate turnaround and sale of a company with more than 100 retail stores in the Western U.S.
  • Led the reorganization of retail operations with annual revenues of $80M per year and 200 employees.

Real Estate

  • Responsible for the development of 1,800+ high-rise and garden apartment and condominium units in seven different cities. Developed more than 8 million square feet of industrial distribution buildings.
  • Developed a marina, floating home sites, town homes and commercial office buildings on Lake Union in Seattle.
  • Acquired, developed, managed and disposed of more than 3,500 multi-family residential units, light industrial buildings, 28 retail/commercial facilities in the Western U.S., and more than 2,000 acres of residential and industrial parcels.
  • Managed, developed, and increased the financial value of a real estate portfolio consisting of office buildings, nine shopping centers, parcels of raw land, and a corporate industrial park.
  • Led the turnaround of a company with office buildings, condominiums, and hotel properties on the Seattle, Tacoma and Portland waterfronts valued in excess of $175M.