Two Florida Firms Form Strategic Alliance
REH Capital Partners and the Algon Group have formed a strategic alliance to handle large complex restructurings for distressed hospitality industry stakeholders.
Both firms are based in Fort Lauderdale, Fla.
The Algon Group is a financial advisory firm that focuses on distressed real estate situations. In the last 18 months, the company has handled over $3 billion of real estate debt restructurings on behalf of owners, developers, homebuilders, investors, private equity funds and lenders.
Most recently, the firm has handled the assignments for the Related Group ($2.1 billion), Core Communities ($375 million) and Cabi Downtown Development ($256 million).
REH is an investment and advisory services firm whose clients are primarily in the real estate and hospitality industry, such as hotels, timeshares, resorts and various mixed use projects.
Some of REH's notable assignments have included serving as financial and litigation expert advisor to the owners of the Four Seasons Aviara Resort in Carlsbad, Calif., strategic hospitality advisor to the Abu Dhabi Investment Authority and advisor to a leading luxury hotel brand on a $2.3 billion asset disposition strategy.
“There are numerous distressed loans and assets remaining to be resolved in the hospitality sector and our client stakeholders need to address potential problems sooner rather than later,” said Frank Nardozza, CEO of REH Capital Partners. “By combining our hospitality background with Algon Group's transactional experience in resolution of troubled debt situations, we offer our clients a tremendous capability to deal with distressed hospitality situations.”