Rubicon US REIT Restructuring
Complex Situations and Structured Finance
Rubicon US REIT Inc. was a privately held real estate investment trust that Kaufman Jacobs, in partnership with Starwood Capital Group, identified as an acquisition target.
- KJ and Starwood began acquiring portions of Rubicon’s corporate debt in 2008 and had acquired a majority position in the bonds by the end of 2009
- In January 2010, Rubicon filed for Chapter 11 bankruptcy protection
- KJ devised and implemented a debtor-led restructuring and was appointed to manage the REIT and reposition the portfolio
- Post-acquisition, KJ has disposed of $250 M in assets, signed more than 1.2 M square feet of leases, and sourced and restructured more than $235 M in debt