Case Studies
Renata Resort
Real Estate

SITUATION
- Renata Resort (the “Company”) was a 5‑acre beach resort in the Panhandle region of Florida
- Approximately $20 MM financing on site to be used for 30+ story high-rise development
- Market softened and loan defaulted
OUTCOME
- Arranged $10 MM DIP financing where 1st Lien paid with DIP proceeds and primed the existing lien from equity
- Chiron Arranged successful 363 sale of property
- Section 363 buyer assumed DIP loan plus $3 MM of working capital reserve
- Successful exit from Chapter 11

The Challenge
Market softened and loan defaulted.
The Chiron Solution
Arranged $10 MM DIP financing where 1st Lien paid with DIP proceeds and primed the existing lien from equity.
The Result
Successful exit from Chapter 11.