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Case Studies

Real examples of how Buckingham Partners has successfully resolved non-performing loans, protecting lender relationships while maximizing recovery outcomes.

South Carolina Funeral Home

Preserving Community Legacy
$760,000

Loan Amount

South Carolina

Location

Property Type
Commercial Property - Funeral Home

Background

A long-standing funeral home in South Carolina, operating for generations as a trusted community institution, had built its reputation on personal service and deep local ties. However, the business had begun to experience significant financial strain.

Challenge

A combination of industry shifts and operational challenges led to declining revenue. Changing consumer preferences toward cremation and simplified services reduced income from higher-margin funeral packages. The oversized, aging facility created high overhead without matching revenue, while new, lower-cost competitors eroded market share.

Buckingham's Approach

Buckingham Partners purchased the non-performing $760,000 loan in a short time period, ensuring a fast and confidential transaction. After acquisition, Buckingham worked closely with the borrower to restructure loan terms, reducing monthly payments to ease immediate cash flow pressure. Together, they created a stabilization plan that allowed for selective facility upgrades, targeted community outreach, and refreshed marketing to regain market share.

Results

Rapid purchase of the non-performing loan, preventing public foreclosure

Reduced monthly loan payments to relieve immediate financial strain

Enabled targeted facility upgrades and marketing improvements

Restored borrower's operational and credit stability

Full loan repayment through refinance, preserving ownership and the funeral home's legacy

New York City Apartment Building

Distressed Apartment Building Loan Workout
$1,475,000

Loan Amount

New York City

Location

Property Type
Commercial Property - Funeral Home

Background

We acquired a $1,475,000 commercial mortgage originally made by an alternative lender, secured by an apartment building in New York City. At the time, the property had an estimated value of approximately $2,750,000. The borrower was an entity with two principals. When one principal passed away, loan payments stopped.

Challenge

A combination of industry shifts and operational challenges led to declining revenue. Changing consumer preferences toward cremation and simplified services reduced income from higher-margin funeral packages. The oversized, aging facility created high overhead without matching revenue, while new, lower-cost competitors eroded market share.

Buckingham's Approach

Buckingham Partners purchased the non-performing $760,000 loan in a short time period, ensuring a fast and confidential transaction. After acquisition, Buckingham worked closely with the borrower to restructure loan terms, reducing monthly payments to ease immediate cash flow pressure. Together, they created a stabilization plan that allowed for selective facility upgrades, targeted community outreach, and refreshed marketing to regain market share.

Results

Stabilized occupancy rates through targeted leasing and marketing efforts

Completed critical repairs to prevent further physical deterioration and address city code violations

Improved cash flow to cover operating expenses and partial debt service

Positioned the property for a future sale or refinance at improved valuation

Protected lender relationships by resolving the loan discreetly and efficiently

Florida Gulf Coast Townhomes

Townhomes Loan Workout
$1,200,000

Loan Amount

Florida Gulf Coast

Location

Property Type
Residential Development - Three Townhomes

Background

We acquired a $1,475,000 commercial mortgage originally made by an alternative lender, secured by an apartment building in New York City. At the time, the property had an estimated value of approximately $2,750,000. The borrower was an entity with two principals. When one principal passed away, loan payments stopped.

Challenge

Midway through construction, the borrower experienced a contentious divorce and serious medical issues that halted progress. Without the borrower’s oversight, construction delays mounted, costs increased, and the project’s marketability declined.

 
Buckingham's Approach

Buckingham Partners performed due diligence and then purchased the non-performing $1,200,000 loan. They engaged directly with the borrower to develop a cooperative strategy, taking control of the unfinished project. Buckingham coordinated contractors, resolved construction obstacles, and managed the completion process for all three townhomes.

Results

Completed and sold all three townhomes within 15 months

Prevented public foreclosure and preserved property value

Recovered full loan value through sales proceeds

Restored the properties to a market-ready condition

Maintained positive community relations throughout the process

Delaware Church Property

Church Loan Workout
$1,125,000

Loan Amount

Wilmington, Delaware

Location

Property Type
Church Property with Excess Land

Background

We acquired a $1,125,000 commercial mortgage originally made by a regional lender, secured by a church property in Wilmington, Delaware. The property included the church building, excess land, and a parsonage, with zoning that would support redevelopment for townhomes, providing strong collateral coverage.

Challenge

Over time, the church’s pastor left, leading to a decline in membership, reduced donations, and an inability to make consistent loan payments. Payments became sporadic, and leadership changes created additional uncertainty. The lender, concerned about the public relations impact of legal action against a church, decided to sell the note to Buckingham Partners.
Buckingham's Approach
Buckingham Partners engaged directly with church leadership to assess their financial position and long-term plans. We recognized that the payment issues were linked to the decline in membership and leadership transition rather than the property’s value or redevelopment potential.
Results

Loan remains in Buckingham's portfolio under restructured terms

Transaction preserved community stability and prevented potential foreclosure

Property's excess land and redevelopment potential ensure strong collateral coverage

Church continues to serve its congregation without disruption

Central Pennsylvania Fire Department

Fire Department Loan Workout
$95,000

Loan Amount

Central Pennsylvania

Location

Property Type
Fire Department Equipment & Vehicles

Background

Buckingham Partners acquired a $95,000 loan from a bank with which we had completed multiple non-performing loan transactions. The loan had been issued to a small-town fire department and was secured by the town’s fleet of two fire trucks and other firefighting equipment. After the loan closing, during a routine financial review, the department discovered significant embezzlement by its former accountant.

Challenge

The department faced severe financial strain due to the embezzlement, and repossessing the trucks would have jeopardized public safety and created community backlash. The bank wanted resolution without negative press, while Buckingham Partners sought a recovery path that preserved essential services.
Buckingham's Approach
We worked closely with town leadership to fully understand the situation and develop a workout plan that met the needs of all parties. Rather than repossessing the firefighting equipment, we structured a forbearance period that gave the department time to stabilize its finances and replace its accountant. We maintained open communication with the municipality, provided guidance on implementing financial controls, and ensured the bank’s reputation was protected throughout the process.
Results

Allowed the fire department time to address the financial crisis without seizing critical firefighting equipment

Supported leadership in replacing the accountant and implementing new financial controls

Enabled the department to stabilize operations over seven months

Loan was repaid in full, providing a full recovery for Buckingham Partners

Preserved the fire department's ability to serve the community, avoiding litigation and negative publicity

Philadelphia Warehouse Property

Matured Loan Acquisition & Workout
$775,000

Loan Amount

Philadelphia

Location

Property Type
Commercial Warehouse Property

Background

Buckingham Partners acquired a matured $775,000 first mortgage loan secured by a commercial property in significant distress. The borrower had a history of sporadic payments, the building had suffered fire damage leaving it with a partial roof, property taxes were delinquent, and a township lien had been filed.

Challenge

The lender was holding a high-risk, non-performing asset that was both physically and financially impaired. Fire damage had compromised the building, legal liens complicated title, and unpaid property taxes increased the risk of further encumbrances. Immediate foreclosure would have been costly, time-consuming, and could have reduced recovery due to the property’s condition.
Buckingham's Approach
Rather than pursuing immediate foreclosure, Buckingham Partners identified a path to recovery that aligned both lender and borrower interests. We structured a workout agreement with performance-based milestones and enforceable timelines, ensuring accountability while providing the borrower a realistic opportunity to rehabilitate the property.
Results

Resolved township lien and negotiated partial release of certain legal claims

Collected past-due payments at execution, improving immediate cash recovery

Established a monitored redevelopment plan with defined construction and lease-up milestones

Preserved collateral value while avoiding costly foreclosure proceedings

Successfully achieved full loan payoff through refinance, delivering a strong investment outcome

New Jersey Loan Portfolio

Multi-Property Portfolio Acquisition
$1,475,000

Loan Amount

New York City

Location

Property Type
Portfolio of 14 Loans (Mixed Properties)

Background

A New Jersey bank was interested in selling a portfolio of 14 loans with a combined unpaid balance of $1,475,000. The bank’s requirement was to sell the portfolio in its entirety—meaning the buyer would take both performing and non-performing loans. Upon review, Buckingham Partners identified several loans that were effectively worthless, tied to businesses that had already closed or to borrowers with significant financial challenges that could not be resolved.

Challenge

The lender needed to remove a mix of performing and non-performing loans from its books in a single transaction. The portfolio contained a wide range of borrowers, including some with assets and operational potential and others that were beyond recovery. Maximizing portfolio value required a hands-on approach to the viable loans while minimizing losses on non-viable ones.
Buckingham's Approach
Buckingham Partners focused efforts on maximizing recovery from the viable loans while strategically managing or closing out the non-performing positions. Our approach included working directly with borrowers to find creative, value-driven solutions tailored to each situation. For example, the largest loan in the portfolio was to an HVAC business with two buildings—we helped the owner market and sell one building, consolidating operations into the remaining facility.
Results

Maximized recovery from performing and salvageable loans in the portfolio

Sold non-core collateral, such as the HVAC business building and landscaping parcel, to generate immediate cash flow

Efficiently managed and closed out non-viable positions to reduce ongoing portfolio risk

Maintained positive relationships with cooperative borrowers throughout the process

Turned a mixed-quality bulk purchase into a profitable transaction

Ready to Discuss Your Non-Performing Loan?

Buckingham Partners specializes in helping financial institutions quickly and discreetly resolve non-performing loans. We combine speed, creativity, and deep workout experience to provide lenders with a smooth and efficient exit that protects relationships, improves balance sheet health, maximizes recovery, and minimizes disruption for all parties involved.

Call at 610-687-6060

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