Darin L. Buchalter is a Managing Director and practice area leader of the Global Construction practice. In addition, he also serves as leader of Navigant's Real Estate practice. He provides expertise in financial, operational, organizational, and risk management matters to investors, lenders, and users of real estate.
Darin is an advisor to boards and senior management teams in the real estate and construction industries. He collaborates with clients in the areas of acquisitions, due diligence, development, construction, asset management and operations. His experience spans all asset types and demonstrates geographic diversity.
Darin has also served in a consulting capacity and expert in a variety of disputes and bankruptcies involving development projects, leases, purchase agreements, joint venture arrangements, and professional practice standards.
Select engagement experience includes:
- Financial advisor to a significant residential property lender to evaluate exposure on billions of dollars of positions with public homebuilders, including direct loans, land banking, sale-leaseback arrangements on model homes and construction financing. Recovery negotiations in anticipation of bankruptcy proceedings as well as litigation preparation were an essential component of this work.
- Financial advisor for a private equity sponsor in the extension of a senior financing facility on a $2.2 billion, 57,000-acre primarily residential master-planned community development. A sophisticated understanding of land use planning, real estate marketing, construction and financing was vital to the work. Ultimately, also served as a testifying expert in bankruptcy hearing (opposition of lift-stay motion by primary creditor).
- Team leader investigating the causes of cost growth at the $15 billion development of the World Trade Center and the ability of The Port Authority of New York and New Jersey to support its $25 billion capital program for the next decade. Findings presented in a public report.
- Expert testifier in one of the largest commercial real estate bankruptcies in history involving over 180 retail properties throughout the United States. Prepared a property-by-property, comprehensive risk analysis to price the debt on each property in anticipation of litigation by creditors (CMBS bondholders) in the event that consensual restructuring negotiations were not successful. Frozen capital markets did not allow for spot pricing as an indication or a means of resolution for mortgages in default.
- Expert in arbitration opining that activist shareholders in an attempted replacement of the Board of Directors of a public REIT had made misleading statements regarding the performance of an external manager in materials filed with the SEC and publicly disseminated to company shareholders.