Enterprising Investor
4 years ago
OβConnor Capital Partners is a privately owned and independent real estate investment, development, and management firm.
Founded in 1983 by Jeremiah W. OβConnor, Jr., the firm has acquired or developed more than $25 billion of property on behalf of various investment funds, institutional clients, and its own account, encompassing all major property types. The firm is based in New York City, with regional offices in Palm Beach and Mexico City.
https://oconnorcp.com/
Enterprising Investor
4 years ago
Washington Prime Discussing Debt for Equity Exchange (12/15/20)
Opportunity to convert $259,260,000 of Washington Prime Group, L.P. unsecured bonds into a $175,000,000 preferred equity investment in the Preferred Equity Issuing Vehicle. The Preferred Equity Issuing Vehicle will be a limited liability company in which a bankruptcy remote single purpose subsidiary of WPG will be the managing member and common equity holder and the existing bondholders that elect to acquire the Investment will be the holders, either directly or indirectly of the preferred equity interest. WPG SPE shall cause the 51% equity interest held by subsidiaries of WPG in 4 unconsolidated joint ventures (with affiliates of OβConnor Capital Partners to be contributed to the Preferred Equity Issuing Vehicle in accordance with a sequence of formation steps that is acceptable to WPG and the ad hoc group of Preferred Equity Interest Holders, which is anticipated to involve the steps identified in the outline attached hereto as Exhibit A and depicted on the diagrams attached hereto as Exhibit B. The Joint Venture owns the assets described on Exhibit C.
https://www.sec.gov/Archives/edgar/data/1594686/000143774920025401/ex_217629.htm