Frontline Real Estate Partners

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Who

Frontline is the result of a partnership between Mitch Kahn, Josh Joseph and Matt Darin, all of whom previously led the acquisitions and dispositions practices at Hilco Real Estate in Chicago. Mitch was the Founder, President, and CEO of Hilco Real Estate. Prior to forming Hilco Real Estate, Mitch was Senior Vice President of Sportmart, directing all real estate activities including site selection, national rollout strategy, dealmaking, and lease negotiations for all Sportmart locations throughout the United States and Canada.

In September 2001, Josh was recruited by Mitch to join the company as a senior dealmaker and broker responsible for dispositions of large portfolios of commercial real estate. Josh had spent the previous four years at Mid-America Real Estate, specializing in the disposition and acquisition of retail properties throughout the Midwest. Mitch and Josh were responsible for leading some of the largest and most high profile bankruptcies including MCI/WorldCom, Interstate Bakeries Corporation, Bally Total Fitness, Sharper Image, Levitz Furniture, and Jacobson Department Stores. Outside of bankruptcy, the partners have also represented Lone Star Steakhouse, Uno Chicago Grill, U-Haul, Camping World, Cabela’s, ASB Real Estate Investments and Bank of America, among others.

In January 2006, Josh was selected to lead the company’s principal acquisitions platform focused on acquiring retail and industrial assets throughout the United States. Josh brought Matt aboard the Hilco team to build the acquisitions group for Hilco Real Estate. Josh and Matt have a relationship that spans 20 years and Matt seized the opportunity to partner with Josh in developing an acquisitions group at Hilco. Matt had spent the previous three years at PricewaterhouseCoopers, in the Assurance & Business Advisory Group advising real estate and financial services clients. Mitch, Josh, and Matt led the acquisition strategy and dealmaking that acquired a substantial portfolio of retail and industrial assets, both sale-leasebacks and empty facilities, in numerous markets throughout the United States. The partners oversaw the asset management, sales and leasing, and capital activities for the portfolio of approximately 100 properties totaling in excess of $100,000,000.

Today, the three longtime colleagues and friends have formed a new commercial real estate firm called Frontline Real Estate Partners, LLC. The partners bring over 45 years of experience working at the intersection of the commercial real estate and bankruptcy/turnaround arenas. The group brings a complementary set of skills, experiences, and relationships to its new endeavor.

What

Frontline Real Estate Partners, LLC is an entrepreneurial company focused on acquiring commercial real estate as principals and providing real estate consulting services in bankruptcies and distressed situations. The company’s niche is at the intersection of the real estate and bankruptcy/turnaround industries. The three partners have spent most of their respective careers as principals, brokers, and advisors of commercial real estate in distressed situations.

Frontline’s investment focus will primarily be on opportunistic acquisitions of retail and industrial assets on a national basis including both fee and leasehold interests, as well as note acquisitions. The company differentiates itself as a sophisticated buyer of real estate with extensive experience in owning and managing a portfolio of commercial assets across product types and geographic markets. Frontline prides itself on being able to quickly evaluate real estate opportunities to provide timely, meaningful feedback to sellers and clients.

The company will also serve as an advisor to financial institutions, restructuring advisors, and companies in need of real estate expertise. Through its affiliate entity Badger Real Estate Advisors, LLC, the company will also serve as a broker in the disposition of real estate assets including portfolios and single properties.

Where

Frontline is an opportunistic buyer of real estate and will acquire properties on a national basis including primary, secondary, and tertiary markets. The company has long-term relationships with brokers, principals, and other local market experts in most markets throughout the United States enabling it to evaluate opportunities without geographic limitations. The company does not place geographic restrictions on its acquisitions or consulting activities. Frontline is headquartered in the north suburbs of Chicago in Northbrook, Illinois and actively pursues properties across the United States.

When

In response to increasing industry demand for strategic advisory services related to commercial real estate acquisitions and other transactions, Mitch Kahn, Josh Joseph, and Matt Darin have formed Frontline Real Estate Partners, LLC. This new firm specializes in acquiring value-add, distressed and surplus real estate assets nationwide, as well counseling financial institutions, private companies and restructuring advisors on real estate matters.

Why

The economic downturn has created a new collection of distressed real estate experts, auctioneers, receivers, and consultants. However, most groups do not have the depth of experience, knowledge, and relationships to be an expert advisor in bankruptcy and distressed situations. Frontline Real Estate Partners is led by three partners that have spent most of their respective careers working at the intersection of the real estate and bankruptcy industries.

The partners have acquired real estate via Chapter 11 bankruptcies, Assignment for the Benefit of Creditors, and directly from sellers in distressed situations or with troubled properties.

The partners have led the disposition of large real estate portfolios in complex and high-profile bankruptcies. The portfolios of assets have included fee owned real estate of all asset types, leasehold interests in retail and other properties, land, and hospitality/resort properties. This depth and breadth of experience serves as the foundation of Frontline Real Estate Partners.

Although many real estate professionals claim to be experts in distressed real estate, very few have made this their focus even through the periods of prosperity in the real estate industry. This has always been the focus of the partners of Frontline and will continue to be in the future.