SOURCE: Frontline Real Estate Partners, LLC

Frontline Real Estate Partners, LLC

May 06, 2010 08:00 ET

Commercial Real Estate Veterans Form Frontline Real Estate Partners, LLC

NORTHBROOK, IL--(Marketwire - May 6, 2010) -  In response to increasing industry demand for strategic advisory services related to commercial real estate acquisitions and other transactions, three commercial real estate specialists have formed Frontline Real Estate Partners, LLC. This new firm specializes in acquiring value-add, distressed and surplus real estate assets nationwide, as well counseling financial institutions, private companies and restructuring advisors on real estate matters.

Frontline is the result of a partnership between Mitch Kahn, Josh Joseph and Matt Darin, all of whom previously led the acquisitions and dispositions practices at Hilco Real Estate in Chicago. Most notably, Kahn, with a juris doctor (J.D.) in law from Northwestern University and more than 25 years of experience at top-tier real estate companies, has established himself as one of the country's most influential industry advisors. Specifically, Kahn led Hilco from its inception to become one of the nation's leading real estate companies with a focus on disposition services, lease restructuring and principal acquisitions of fee and leasehold properties. Most recently, he founded Badger Real Estate Advisors, LLC, which will continue to specialize in the disposition of commercial real estate assets.

"Creating Frontline was a natural next step in my career, but it also was driven by a growing industry need," said Kahn, co-principal and CEO of Frontline. "Across the country, my partners and I are seeing an increased demand for experienced counsel on acquiring and selling real estate -- particularly in the complex scenarios today's economy has spurred. Our entrepreneurial spirit and long-term view of the world will be a welcome asset to parties seeking support and guidance in this multifaceted space."

Since launching, Frontline has been involved in the following projects:

  • Serving as bankruptcy-court-appointed real estate advisor to a Chapter 11 debtor gas station/convenience store chain. In this role, Frontline is working in conjunction with Hilco Real Estate to oversee the valuation and disposition of 120 gas station/convenience stores throughout the Midwest via a bankruptcy bid and auction process. 
  • Serving as the chief restructuring officer (CRO) for the receivership of a real estate company involved in a high-profile Ponzi scheme that raised in excess of $300 million from investors. The CRO role includes the sales, leasing and management activities of the entire portfolio of real estate assets and determining strategic alternatives for each asset. 

With a rich history in distressed real estate investments, the principals of Frontline have a proven track record of superior returns. Their acquisition strategy helped them build a substantial portfolio of retail and industrial assets, both sale-leasebacks and empty facilities, across numerous markets in the U.S. Similarly, Frontline's primary investment focus is opportunistic acquisitions of retail and industrial assets nationwide, including fee and leasehold interests, as well as note acquisitions.

The company also advises financial institutions, restructuring advisors and companies in need of real estate expertise, a role the company's executive team has extensive experience handling. In fact, Kahn, Joseph and Darin led the real estate disposition and restructuring efforts of some of the most high-profile corporate bankruptcies of the last decade, including MCI/WorldCom, Interstate Bakeries Corporation, Bally Total Fitness, Sharper Image, Levitz Furniture and Jacobson Department Stores. The partners have also represented Lone Star Steakhouse, Uno Chicago Grill, U-Haul, Camping World, Cabela's, ASB Real Estate Investments and Bank of America, among others.

"We are in a unique position to advise clients on real estate matters concerning bankruptcies and distressed situations based on our long track record in this arena," said Joseph, co-principal of Frontline Real Estate Partners, LLC. "What differentiates us is that we bring to the table the perspective of not only trusted advisors, but also owners and managers of real estate. Matt and I are very excited about the opportunity to partner with Mitch in building a new and dynamic company."

About Frontline
Frontline Real Estate Partners, LLC focuses on acquiring distressed real estate assets across the U.S., as well as providing real estate consulting and advisory services in bankruptcy and distressed situations. The company is an experienced, sophisticated buyer of real estate assets, with the company's leadership team having acquired a substantial portfolio of retail and industrial assets, including sale-leasebacks and empty facilities. Frontline also serves as a trusted advisor to lenders, bankruptcy attorneys, turnaround consultants and companies with real estate restructuring needs. Principal services include strategic advising and consulting on portfolio management, restructuring, disposition, receivership and turnarounds. The company is headquartered outside of Chicago, Ill. 

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