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  • Houston
    +1 713-929-9080
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    +33 1 82 88 48 32

Case Studies

Renata Resort

Real Estate

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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
Renata resort logo

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.

Is your com­pa­ny per­form­ing like it should?

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