Michael Criscito

Michael Criscito has more than 30 years of experience in international banking with a focus on real estate in distress and restructuring. As an expert in restructuring, Mr. Criscito has worked with a range of creditor classes across a variety of international industries.

Mr. Criscito's experience also includes engagements on the principal side for distressed real estate assets. A capable leader representing both creditors and principals through the restructuring process, Mr. Criscito has a long history of developing innovative solutions to maximize recovery and minimize loss for his clients.

Prior to joining FTI Consulting, Mr. Criscito was a senior managing director and co-leader of the Real Estate Advisory Group at Ankura Consulting Group, LLC. Previously, he was the global head of workouts at Credit Suisse for more than two decades, managing an international staff of restructuring professionals located in New York, London, Brazil, Singapore and Hong Kong.

Credit Suisse’s global portfolio, which exceeded $6 billion, was primarily composed of commercial real estate loans and assets, impaired or stressed corporate and leveraged loans, derivatives and structured products. In this role, Mr. Criscito provided senior level guidance and direction on strategic matters, client and investor relationships, valuation, debtor-in-possession structuring and fees, problem loan management framework and talent development.

During his career at Credit Suisse, Mr. Criscito successfully restructured, owned, operated and disposed of a multi-billion real estate portfolio across various asset classes including land, multi-family, residential, golf, office, hotel and entertainment. He has also held positions at HSBC Markets; Bear, Stearns & Co.; McDonald & Company Securities, Inc., and Paine Webber Incorporated.

Relevant Experience:

• Engaged as an advisor to various U.S. commercial banks in multiple office workout situations; provided review and analysis of the property's operations and tenants, market dynamics and financial projections which were used to develop preliminary indications of value; assisted the client with forbearance agreements, restructuring terms and/or deed in lieu of foreclosure
• Advised a large developer and operator of student housing regarding $1 billion of debt across three universities
• Advised the largest wholesale mortgage originator in the country with unprecedented margin calls and short-term liquidity stress as a result of extreme volatility in the bond markets due to the COVID-19 pandemic and related Federal Reserve intervention; assisted management in creating a daily cash flow forecast and constructing a transparent payment plan with to-be-announced counterparties
• Advised a bank syndicate on its senior debt position secured by a more than 399-room, full-service hotel in Manhattan; reviewed and assessed historical and projected operating performance, business plan and underlying assumptions
• Advised a publicly traded golf and residential development company; managed bankruptcy process for the bank with valuation fight, leading to the possession of eight development projects around the United States
• Acted as agent and lender on more than a dozen defaulted resort land deals including operating assets such as hotels and retail throughout the United States that the bank originated