Steven R. Gerbsman, Principal of Gerbsman Partners, announced today that Gerbsman Partners successfully terminated and restructured the executory real estate contracts for a technology based company. The venture capital backed company, executed leases for space in New York City.
Due to market conditions, the company made a strategic decision to terminate its real estate lease obligation and restructure its existing corporate space allocation. Faced with potential contingent liabilities in excess of $ 12.0 million, the company retained Gerbsman Partners to assist them in the termination and restructuring of their prohibitive executory real estate contract.
About Gerbsman Partners
Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 70 Technology, Life Science and Medical Device companies and their Intellectual Property and has restructured/terminated over $805 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A transactions.
Gerbsman Partners has offices and strategic alliances in Boston, New York, Washington, DC, Alexandria, VA, San Francisco, Orange County, Europe and Israel. For additional information please visit www.gerbsmanpartners.com