First Home Brokerage, LLC.

Situation

GGG was engaged by existing lenders to assess the viability of First Home Brokerage, LLC, a $100 million reseller of distressed middle-income housing in the outer boroughs of New York City. The fear was that First Home Brokerage was losing money and in danger of going out of business.

Action

After GGG determined that the company could only be saved with a significant infusion of new capital, the lenders requested that GGG liquidate the company.

Results

Foothill, the secured lender, was paid out in full, including all accrued fees; additional monies were available for sub-debt lenders as well.

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