TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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August 19, 2024
Source: A&G Real Estate Partners
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A&G to Auction Eight Bus Terminal Leases as Part of Coach USA’s Expedited Restructuring Process --Bankruptcy sales of leases for large, strategically located properties represent a strong opportunity for transportation and trucking companies; court-approval pending |
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NEW YORK – August 13, 2024 —A&G Real Estate Partners, in its capacity as real estate advisor topassenger transportation and mobility services providerCoach USA (“the company”), today announced the upcoming auction of eight bus terminals across the United States, as part of the company’s expedited financial restructuring. The bid deadline isAugust 28, 2024, subject to court approval of bid procedures. Paramus, N.J.-base Coach USA this past Juneannounced that it had commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, with a goal of preserving jobs, ensuring continued service and maximizing the value of its businesses. The company continues to operate as normal and remains focused on safely serving customers across North America. “These eight bus terminals offer ample space for parking, storage and repair/maintenance, and they also boast strategic locations near airports, highways and major U.S. markets,” saidEmilio Amendola, Co-President of A&G Real Estate Partners and head of the firm’s real estate sales division. “Bus and trucking companies already are expressing strong interest in these sites.” The terminals are located in:
“These assets offer attractive rents, and the Elizabeth location is adjacent to the Port of Newark, with very significant remaining term adding to the appeal,” said Chief Restructuring OfficerSpencer M. Ware, Partner, CR3 Partners, LLC. “It’s a tremendous opportunity for the U.S. transportation sector.” Houlihan Lokey is the company’s investment banker, withAlston & Bird as well asYoung Conaway Stargatt & Taylor, LLP, serving as debtor’s counsel. For further information on the assets, visit www.arep.com/real-estate-for-saleor contact Emilio Amendola, (631) 465-9507,emilio@agrep.com, orDoug Greenspan, A&G Senior Managing Director, (310) 770-7832,doug@agrep.com #### Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700,elisa@jaffecom.com. |
