A&G Real Estate Partners was named “Real Estate Restructuring Firm of the Year” at Global M&A Network’s 14th Annual Turnaround Atlas Awards.
The July 21 announcement marked the third consecutive year in which the Melville-based advisory firm has received the honor. A&G specializes in occupancy-cost reductions, lease optimization and real estate sales nationwide.
Global M&A Network also recognized A&G for its contributing role in the February 2021 Section 363 sale of Francesca’s Holdings to TerraMar Capital, Tiger Capital Group and SB360 Capital. The transaction was winner of the program’s “Special Situation M&A Deal of the Year, Small Middle Markets” award.
“Houston-based Francesca’s had been on the cusp of liquidation, but our portfolio optimization on behalf of the chain led to real estate savings of nearly $100 million,” noted Emilio Amendola, A&G Co-President. “It was a major factor in the buyers’ decision to swoop in at the eleventh hour and acquire Francesca’s.”
After the deal closed, the retailer was able to continue running its ecommerce channels as well as 424 boutiques. “We are proud of our team’s work on this client engagement and honored to share in the award,” Amendola said. During the virtual awards ceremony on July 21, Global M&A Network also recognized FTI Capital Advisors, Sierra Constellation Partners, Greenberg Traurig LLP, and Cole Schotz P.C. for their parts in the Francesca’s transaction.
In commenting on A&G’s recognition as “Real Estate Restructuring Firm of the Year,” Co-President Andy Graiser noted the contrast between 2020 and 2021.
“During the worst days of the pandemic, our team went into overdrive to secure lease modifications and rent reductions for clients that were struggling to survive,” Graiser explained. “In 2021, we continued portfolio optimization for our clients, aligning their occupancy costs with store performance while exiting leases for the non-performers. It was a satisfying next step to work with some of these companies to develop and execute real estate growth strategies. We’re grateful to receive this industry recognition.”
All told, last year A&G worked on behalf of 31 clients in sectors such as restaurants, theaters/entertainment, fitness/gyms, education, office and more. Its teams handled negotiations on 1,750 leases, securing occupancy-cost reductions on 1,349 and terminations on 396. “We delivered a total of $549 million in savings for our clients throughout the year,” Graiser noted. “Consistent with the survivors’ shift into growth mode, we executed 25 new store leases for 300,000 square feet of space for retail clients alone.”
The independently governed Turnaround Atlas Awards honor value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency and distressed investing communities. “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.