Melville-based firm was also co-winner of 'Non-Profit Restructuring of the Year' award for its role in The College of New Rochelle Chapter 11 restructuring.
NEW YORK, Feb. 1, 2021 /PRNewswire/ -- A&G Real Estate Partners—an advisory firm specializing in lease restructuring, real estate sales and auctions nationwide—captured two major awards at the 12th Annual Turnaround Atlas Awards Ceremony, a virtual event held on January 22.
Most notably, the Melville-based firm won the coveted "Outstanding Restructuring Real Estate Firm of the Year" award at the independently governed program administered by Global M&A Network, which honors best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities. Delayed by the pandemic, the January 2021 program honored projects completed in 2019.
According to the awards committee, A&G's selection was based on its role in the terminations of all 600 Dressbarn leases outside of Chapter 11, and its work on leased and owned properties from Toys'R'Us, Mattress Firm, Charming Charlie, ITT Educational Services, and The College of New Rochelle.
The firm's role as real estate advisor on the Chapter 11 sale of the main campus of The College of New Rochelle to the Trustees of the Masonic Hall & Asylum Fund netted it the "Non-Profit Restructuring of the Year" award. A&G won the award with management consultants Getzler Henrich & Associates and debtor's counsel Cullen and Dykman LLP.
Working in close cooperation with The College of New Rochelle's leadership, the Chief Restructuring Officer, legal counsel and municipal officials, A&G designed a national and international marketing campaign for the main campus, targeting potential buyers that would meet the city's objectives for acceptable uses for the site. A&G also advised on a short-term, two-year lease of the main campus to Mercy College, allowing College of New Rochelle students to continue their studies at the site under a teach-out agreement between the two schools. A&G's auction process for the sale of the main campus generated a market price that ultimately led to an all-cash, non-contingent sale for $32 million to the Masons. Notably, all three final bids were within $1 million of one another.
"The Turnaround Atlas Award validates excellence, tireless work of professionals and firms from the industry. Winners should take pride for effectuating successful restructurings, proving their creativity, expertise and differentiated talents." said, Shanta Kumari, CEO and Global Group Editor at Global M&A Network.
Commenting on the two awards, A&G Co-Presidents Emilio Amendola and Andy Graiser said:
"We are thrilled to be honored in this prestigious awards program for our body of work in advising distressed and healthy organizations on monetizing their real estate and in reducing occupancy costs for their continuing operations. These two awards testify to the hard work of our growing team and the trust that we've gained from professionals in the turnaround consulting, legal, financial and corporate real estate communities."
About the Awards: The independently governed Turnaround Atlas Awards honor best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities. Winners are officially announced during the ceremony celebrations. Prestige: Equates to achieving the "Gold Standard of Performance" standing in the industry, validating excellence since the winners are selected on "transactions criteria," firm expertise and team leadership merits.
About the Host: Privately and women-owned, Global M&A Network is a media, information and events firm. For the past 13 years, the New York-based company has produced the world's most prestigious M&A Atlas Awards, Turnaround Atlas Awards, Women Leaders & Dealmakers Atlas Awards. For details, visit: https://globalmanetwork.com/