Matthew Bordwin, managing director and group head of the Real Estate Services team,was quoted in Sasha Pardy's article in CoStar Group

February 10, 2009

Matthew Bordwin, managing director and group head of the Real Estate Services team with KPMG Corporate Finance LLC, was quoted in Sasha Pardy's article, "Retailers Pressure Landlords Publicly for Rent Cuts, With Varying Results," in CoStar Group.

"In my 13 years of handling these types of projects, I have never seen a market like we are facing today. During my conversations with landlords on behalf of my clients, they express their concern about the high number of retailers that are asking them for rent reductions."

"Retailers need to present their situation in a truthful and credible way. Our experience is that landlords are typically willing to work with us and the retailer towards a solution, but today, because so many retailers are seeking rent relief, it has become a more challenging environment in which to negotiate." However, landlords face the very real prospect of losing a tenant and getting back "unprecedented" amounts of space, as well as contributing to a retailer folding, if a manageable solution is not met during renegotiation, warned Bordwin. He concluded, "How has the landlord helped himself in that way?"

Click here to read the article in its entirety.

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KPMG Corporate Finance provides a full suite of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge in global M&A and project finance to advise clients on mergers and acquisitions, sales and divestitures, buy-outs, financings, restructurings, fairness opinions, infrastructure project finance, and other advisory initiatives. In addition, we remain independent of financing sources, helping to ensure that our efforts are objective and aligned with the goals of KPMG’s firms’ clients.

Operating in 62 countries, KPMG’s Corporate Finance practice comprises more than 2,200 professionals who are able to meet the needs of KPMG’s firms’ clients across the globe. In 2008, as a leading financial adviser, KPMG’s Corporate Finance practice completed 390 deals totaling US$51.5 billion, according to Thomson Financial’s global M&A league tables.