Accomplish the Impossible
Clients retain Hilco Real Estate for our knowledge, experience, and track record of success maximizing value and minimizing costs. These clients own or lease a wide variety of assets – retail, restaurant, and grocery; office space; and warehouse, manufacturing, and industrial.
Hilco Real Estate assisted with the lease assignment/sale of approximately 275 operating A&P stores and other leasehold assets. The project scope also included 15 parcels of owned property in addition to liquor licenses/stores, scripts, inventory and FF&E, and IP. Hilco was an integral strategic and transactional advisor to A&P and its constituents and was the lead disposition agent in securing $1 billion+ in proceeds on behalf of the company.
Hilco Real Estate has been engaged by Applebee’s and several of its franchisees (who operate in excess of 1,000 locations) to assist with strategic lease terminations, marketing for sublease/assignment, and restructuring rents throughout the system. To date, Hilco has generated millions in savings across the portfolio.
BMO Harris asked Hilco Real Estate to conduct a detailed analysis and prepare a strategic white paper relating to a significant subset of their available portfolio. Hilco was thereafter engaged by BMO to facilitate the sale and partial leaseback or relocation of a portfolio of excess bank branches. Strategically structured as a tiered process, marketing is underway with a focus on portfolio buyers as the initial target.
Hilco Real Estate was engaged during an M&A process to assist with the disposition of a large number of Catalina’s 150 Coco’s & Carrows operating locations, as well as negotiate reduced rent in connection with a material portion of its go-forward portfolio. Hilco generated millions in savings in connection with dispositions and separately secured several million dollars in connection with renegotiated leases.
Dino BBQ hired Hilco Real Estate to mitigate their lease obligation at two Midwest locations. With extensive restaurant/market connections, Hilco identified several prospective replacement users, while at the same time negotiating termination terms with landlords. Hilco’s negotiation of favorable lease termination terms with landlords allowed Dino BBQ to achieve a significant discount to contractual rent.
Draper's & Damon's, a women’s clothing retailer, hired Hilco Real Estate to assist with the disposition/exit of its 26 leased retail locations as part of the company’s transition to an exclusive online-only presence. Despite many of the leases being long term with significant rental liability owed through the end of the terms, Hilco successfully negotiated attractive early terminations to exit 25 of the 26 leases, generating millions in lease savings on behalf of the company.
Hilco Real Estate was engaged by Elie Tahari to work with all landlords across their portfolio of 40+ locations (retail and otherwise), to seek a combination of term shortening, terminations, and restructures. Hilco successfully saved the client millions in total term liability companywide across warehouse, office, and retail leases.
Hilco Real Estate has been working with First Midwest Bank (“FMB”) to coordinate the strategic sale of both excess bank branches and real estate owned (OREO) assets. Utilizing a combination of traditional brokerage, managed bid and auction platforms, Hilco has sold a number of FMB’s assets in the Chicago area. Hilco’s creative and targeted marketing techniques have generated expedited, competitive bidding environments and favorable sale prices on behalf of the client.
On behalf of Fred’s Pharmacy, Hilco Real Estate is executing a comprehensive sale-leaseback of a portfolio of core owned properties, in conjunction with the disposition of surplus owned and leased properties and a renewal/repositioning program for go-forward leased locations.
Hilco Real Estate was retained to market and sell residual real estate that was excluded from KPS Capital Partners’ acquisition of substantially all of Furniture Brands’ real estate assets. Hilco implemented a date-certain, accelerated sale process for 16 industrial buildings and land parcels totaling 2.5M+/- SF on over 500 acres across four states. Despite several of the assets presenting significant challenges, Hilco’s strategic process generated 38 qualified offers, with sale proceeds exceeding projected value ranges.
Hilco Real Estate was recently engaged by Gander Mountain to assist with the restructuring and/or disposition of the company’s portfolio of 160+ leased locations throughout the U.S.
Garden Fresh hired Hilco Real Estate to assist with the repositioning of its portfolio of 100+ restaurants as part of a bankruptcy process. Hilco negotiated rent reductions, past due rent waivers and landlord remodel contributions, in addition to facilitating the relocation of the company’s corporate office, saving millions in future rent liability and helping establish a foundation for financial stability for Garden Fresh going forward.
Hilco Real Estate was engaged by hhgregg to assist with the restructuring and/or disposition of the company’s portfolio of 220 leased locations across the U.S. As part of its role, Hilco negotiated tens-of-millions in rent savings in an effort to help the company/debtor secure an acquirer of the business.
When Hostess Brands announced it was shutting down its business and selling all assets, Hilco was appointed exclusive real estate advisor early, initially valuing all 260 owned locations. After 120 were sold as part of a bulk brand/asset purchase, Hilco handled the sale of 140 diverse remaining real estate assets across 34 states. Implementing a highly innovative and effective marketing campaign, 6,000+ prospective buyers were generated within 90 days, which led to 400+ offers. Ultimately the portfolio (real estate, machinery & equipment and 10,000+ trucks) was sold in a bulk transaction at auction to the stalking horse bidder, which yielded $62+ million in proceeds to the estate.
When Ignite Restaurants filed for Chapter 11 bankruptcy, Hilco Real Estate’s lease restructuring team was engaged by the debtor to conduct lease restructuring and dispositions in concert with the sale of the company. Hilco was subsequently retained by the winning bidder (Landry’s) to conduct further lease repositioning work on 130+ locations, generating millions in lease savings.
Hilco assisted Logan’s Roadhouse with a two-part assignment, first structuring and executing a $22 million sale-leaseback transaction of eight properties in seven states at a very competitive cap rate, providing critical cash for the struggling company. Shortly thereafter, Hilco served as exclusive advisor during the company’s bankruptcy process, conducting extensive rent management discussions with landlords prior to filing and renegotiating Logan’s entire portfolio of 200+ leases. Hilco efforts resulted in millions in savings on behalf of the estate.
Marsh Supermarkets sought critical lease restructuring assistance for the company’s 27 locations as part of a Chapter 11 bankruptcy process. Working with the company’s advisors and bankers, Hilco repositioned leases which resulted in millions in savings. The package of repositioned store leases was ultimately sold to three different users, generating significant additional proceeds for the estate.
Hilco Real Estate was initially engaged several years ago by a stalking horse bidder to negotiate rent and cash-equivalent savings across Max & Erma’s 60-restaurant portfolio in connection with its bankruptcy sale; through Hilco’s efforts, millions in savings were secured. Hilco was recently re-engaged by Max & Erma’s current owner, American Blue Ribbon Holdings, to dispose of 16 excess restaurant leases excluded from the sale of Max & Erma’s to a new purchaser. Hilco successfully completed 15 lease termination/sublease/assignment transactions securing millions in additional savings on behalf of the company.
Hilco Real Estate was retained by Ovation Brands during their Chapter 11 bankruptcy to restructure 148 operating leasehold assets and dispose of 5 owned properties. The restaurant portfolio encompassed five unique brands (Tahoe Joe’s, Ryan’s, Country Buffet, Old Country Buffet, and HomeTown Buffet), operating across 25 states and included single-entity leases as well as several master lease agreements. Despite these challenges, Hilco secured millions of dollars in lease savings on behalf of the company.
Payless ShoeSource has engaged Hilco Real Estate to provide comprehensive advisory and lease renewal negotiation/execution services for a portfolio of several hundred locations across North America (44 states plus Canada and Puerto Rico).
When Portrait Innovations filed for Chapter 11 bankruptcy, Hilco Real Estate’s lease restructuring team was hired to restructure their portfolio of 110+ go-forward locations across 30 states, inclusive of modifying lease expiration dates. In doing so, Hilco was successful in relieving the company of millions in leasehold obligations.
Hilco Real Estate marketed and sold ten surplus industrial assets across eight states on behalf of this 90-year-old maker of resins used in composites and coatings. Hilco worked in tandem with Reichhold’s environmental consultants to establish a transparent and informative bidding process which was integral to the national marketing campaign. The sale effort generated significant interest, primarily from industrial users, which resulted in satisfactory sales proceeds and a reduction in ongoing liability for Reichhold.
Hilco Real Estate structured and executed a sale-leaseback of this operating restaurant located in Highlands Ranch, Colorado. After executing an aggressive marketing program, Hilco generated multiple offers and the property was ultimately sold at a favorable cap rate, freeing up capital for the client to grow their business and continue their strategy of opening additional restaurants across the country.
Hilco Real Estate was recently engaged to assist with a portfolio-wide lease review and subsequent lease repositioning project to support the company’s debt restructuring. Objectives include rent reduction, leasehold term shortening, securing landlord contribution dollars and other asset management services to enhance the value of the portfolio going forward.
When H.I.G. Capital acquired T-Bird Restaurant Group (a 63-unit Outback Steakhouse restaurant franchisee with locations throughout California), the company sought to extract value from the portfolio’s single owned site. Hilco Real Estate conducted an analysis of T-Bird’s portfolio, followed by the strategic marketing and execution of a sale-leaseback transaction for the owned Roseville, CA site. Hilco’s strategic offering resulted in multiple aggressive bidders and resulted in proceeds which allowed H.I.G to realize a near triple return on their initial investment in this asset within 18 months.
Hilco Real Estate was engaged by The Fresh Market to coordinate a lease disposition assignment related to ten+ non-core locations located in five Midwestern states. Hilco negotiated strategic termination with landlords while concurrently conducting a targeted marketing campaign in pursuit of replacement users for lease assignment/sublease, actively reaching out to hundreds of retail concept users across the country. Several millions in lease-related savings were generated on behalf of the client.
Hilco Real Estate was recently engaged to assist Tops Markets with the restructuring of its leased real estate portfolio as part of its bankruptcy process.
This private equity-sponsored glass fabricating firm was combined with another operating company --- which resulted in seven manufacturing facilities across six states becoming surplus. Hilco Real Estate ran a simultaneous sale process to market and dispose of all properties within an accelerated time frame.