R. Bruce Gamble

Bruce’s professional experience includes:

• Advisor to a healthcare REIT concerning interpretation of the purchase option in three long-term hospital leases. Performed detailed financial and accounting analyses that provided the basis for the parties to agree on a consensual restructuring of the leases.
• Financial advisor to major US commercial bank concerning a $160 million credit facility secured by 33 properties located across the US. Throughout the three-year Chapter 11 case, monitored the real property collateral, provided various appraisal services, reviewed the monthly cash collateral budgets, and reviewed/approved significant tenant leases. Deeply involved in numerous attempts to reach a negotiated outcome. Provided expert reports and depositions on several topics, including appropriate interest rate, appropriate level of management fees, and feasibility of several different reorganization plans. Finally, guided the parties to a consensual plan of reorganization that provided certainty of exit for the lenders and an immediate 92% cash collection and a deficiency note for the remainder of the secured lenders’ claim
• Financial advisor to the non-profit government sponsored corporation that owns one of the major festival/tourist retail and transit-related developments in Washington, DC. Analyzed the financial relationship with the developer/operator, developed a comprehensive financial model showing the financial results to both parties, and made recommendations for modifying the arrangement under both status quo, and potential redevelopment scenarios.
• Financial advisor to the Official Committee of Unsecured Creditors (UCC) in the Capmark Financial bankruptcy. At the time of its Chapter 11 filing, Capmark had more than $15 billion of real estate assets in a combination of direct loans, REO, direct and joint venture investments, and loans in its wholly-owned Utah industrial bank. Monitored and reviewed operations throughout the case. Interfaced between the Company, the UCC, and various other constituencies. Reviewed all real estate decisions made by Capmark and in many cases had to approve them. Recommended more aggressive disposition programs that led to greatly increased recoveries for the creditors.
• Financial advisor to non-profit foundation concerning its significant investment in a luxury hotel and resort in the Caribbean. Analyzed all aspects of the resort’s operation, including the hotel, condominiums, golf, and other amenities, restaurants, and a significant land development operation. Performed significant forensic accounting work, as there were concerns that the developer misappropriated monies, or did not clearly identify, or appropriately handle conflicts of interest. Assisted in the restructuring of the project alongside of an opportunity fund that bought into the third-party debt in a loan-to-own transaction
• Financial advisor to a super-regional bank concerning its loans to the developer and owner of six high-end residential communities in North and South Carolina. The communities were in various states of construction and sellout. In total they contained a total of nearly 10,000 lots, private golf courses designed by prominent architects, fitness facilities, and other amenities. Evaluated the collateral and initially assisted the bank in restructuring the credit facility. Following that, assisted the bank in finding a buyer for the loan and helped them close the loan-sale transaction before a year-end deadline.
• Financial advisor to the developer of one of the premier second home projects in Georgia, consisting of over 6,000 developed lots, five golf courses, a full complement of additional amenities, and additional to be developed land. There was also a separately financed luxury hotel. Initial work entailed a detailed analysis of the project including capital budgets and the operations of all amenities. This led to a restructuring of the main loan facility that was secured by the project. Next restructured certain aspects of the hotel financing and loans secured by adjacent undeveloped land owned by the sponsors. Finally, assisted one of the sponsors with separate loans secured by luxury properties and other assets located across the US.
• Financial advisor to a major commercial bank concerning its loan secured by a portion of one of the premier resorts on the southeast coast. The developer and operator of the project had filed for bankruptcy, but our client had separate collateral and was not part of the overall entity-level lending group. Performed a detailed analysis of our client’s collateral and analyzed the relationship with the main resort assets and credit facility. Made recommendations concerning the short- and long-term potential, the ability to operate this collateral independent of the other resort assets, and strategies to increase recovery.
• Financial advisor to a major commercial bank concerning its 20 credit facilities to the largest private land developer and land banker on the east coast. The client’s exposure was over $500 million with total indebtedness more than $1.8 billion. As financial advisor for the lead lender, played a role for all lenders and provided overall cash flow analysis. Developed exit strategies for each of the 20 assets, including development budgets. Secured agreement with borrower on activities to be undertaken, monitored cash requests, and monitored performance against the plan.