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New firm established.

Foray Capital Inc., a New York based real estate advisory firm, has been created to offer restructuring and work out services to lenders, developers and other financial institutions.

The principals of the firm are Cynthia Wang and Jim K. Lee. They will use their experience in real estate, legal, environmental, regulatory, and accounting issues, Foray principals have been successful in restructuring and foreclosing over $1 billion in loans.

Wang, who holds a BA from Barnard College, and an MA and MBA from Columbia University, managed, in aggregate, a diverse real estate portfolio of over $1 billion as a Chemical Bank vice president. She has successfully restructured over $400 million of complex transactions including those involving domestic and foreign hank participants.

Lee, also as a vice president at Chemical Bank, managed a diversified real estate loan portfolio in excess of $600 million, she has restructured, negotiated, managed and disposed of problem loans and projects including shopping centers, mixed-use-developments, residential projects, and condominium and cooperative conversions. Lee holds a BA in Architecture from Princeton University and an MBA from Columbia University.
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Title Annotation:Foray Capital Inc. real estate advisory firm
Publication:Real Estate Weekly
Date:Dec 23, 1992
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