CHICAGO--(BUSINESS WIRE)--May. 12, 2009--
Navigant Consulting, Inc. (NYSE: NCI) today announced that Mitchell C.
Hochberg has been appointed Senior Advisor to the firm’s Distressed Real
Estate Solutions initiative. He will provide real estate development and
operating services for Navigant Capital Advisors (NCA), the dedicated
corporate finance business unit of Navigant Consulting. Mr. Hochberg
will join an assembled team of professionals with proven experience that
provides a full suite of advisory and liquidity services to
underperforming real estate investments and operating companies.
“Mitchell Hochberg has over 30 years of proven track record in real
estate development and operations in residential, hospitality,
commercial, gaming and mixed-use properties,” stated Edward Casas,
Senior Managing Director and Head of Navigant Capital Advisors
Restructuring and Investment Banking.
“Given recent market turbulence, Mitchell’s unique background will be
invaluable to clients in providing real life solutions to deal with the
major challenges facing fund managers, investors and creditors,” added
Darin Buchalter, Managing Director and Head of Navigant’s Real Estate
Mr. Hochberg was founder and President and Chief Executive Officer of
Spectrum Communities for 20 years. He emerged as a leader in the
residential development industry by building highly amenitized luxury
communities that focused on the homeowner’s lifestyle. Under Mr.
Hochberg’s leadership, Spectrum became the preeminent luxury lifestyle
residential builder in the Northeast, with $2 billion in residential
sales. After selling Spectrum, Mr. Hochberg served as President and
Chief Operating Officer of Ian Schrager Company. Ian Schrager Company
builds, manages, develops and markets innovative hotels and residences,
introducing new concepts and continually reinventing industry standards.
Hotels developed by the company include The Delano, Morgans, Royalton,
Paramount, Cliff and Hudson. Mr. Hochberg also oversaw the development
of a $10 billion mixed use hotel/casino/retail development in Las Vegas.
He was recently nominated to the Board of Directors of Orient-Express
Hotels. Mr. Hochberg is a C.P.A. and earned a JD from Columbia
University School of Law.
"My goal is to provide focused development and operational expertise to
complement Navigant’s fully integrated suite of advisory services and
liquidity solutions,” stated Mr. Hochberg. “In the current investment
environment, the ability to combine the distinguished restructuring and
distressed investment banking capability of Navigant Capital Advisors
with Navigant Consulting’s investigative, valuation and regulatory
services, provides a unique platform to address our clients most complex
Navigant brings years of experience assisting clients who are facing
highly complex issues in the real estate industry. Whether addressing
the needs associated with a single asset, or a distressed portfolio,
Navigant provides a comprehensive service offering with core strengths
in: Strategic Assessment, Valuation, Restructuring, Operations &
Development, and Transaction Solutions. Navigant professionals possess
the expertise required to actively advise and implement recovery
solutions for complex projects, portfolios, and capital structures in
all real estate asset classes including residential, office,
hospitality, retail, industrial and land.
Navigant professionals have restructured over $50 billion of real estate
assets over the course of the last 24 months.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE: NCI) is a specialized independent
consulting firm providing dispute, financial, regulatory and operational
advisory services to government agencies, legal counsel and large
companies facing the challenges of uncertainty, risk, distress and
significant change. The Company focuses on industries undergoing
substantial regulatory or structural change including healthcare, energy
and financial and insurance services, and on the issues driving these
transformations. “Navigant” is a service mark of Navigant International,
Inc.Navigant Consulting, Inc. (NCI) is not affiliated, associated, or
in any way connected with Navigant International, Inc. and NCI’s use of
“Navigant” is made under license from Navigant International, Inc. More
information about Navigant Consulting can be found at www.navigantconsulting.com.
About Navigant Capital Advisors
Navigant Capital Advisors (NCA) is the dedicated corporate finance
business unit of Navigant Consulting, Inc. NCA serves the Restructuring,
Investment Banking, Restructuring, Valuation, and Transaction Advisory
needs of companies, private equity groups, lenders, and other creditor
constituencies. Investment banking, private placement, merger,
acquisition and divestiture services offered through Navigant Capital
Advisors, LLC. Member FINRA/SIPC. More information about Navigant
Capital Advisors can be found at www.ncacf.com.
Source: Navigant Consulting, Inc.
Navigant Capital Advisors, LLC
Public Relations, Inc.
Dennis S. Dobson