Matthew Bordwin, managing director and group head of the Real Estate Services team,was quoted in Elaine Misonzhnik's article in Retail Traffic

March 10, 2009

Matthew Bordwin, managing director and group head of the Real Estate Services team with KPMG Corporate Finance LLC, was quoted in Elaine Misonzhnik's article, "Retail Tenants Team Up in Attempts to Win Concessions," in Retail Traffic.

In an attempt to win concessions from shopping center owners and managers, retail tenants at some properties across the country are bolstering their hand and banding together in united fronts with shared demands.

The logic of the strategy is that by coming together, tenants bring greater power to the negotiating table. It also prevents one tenant from getting a worse deal than other retailers at a center. Lastly, retailers can employ joint tactics—such as withholding rents—if the concessions they want do not materialize. 

One tactic landlords use for breaking alliances is by offering concessions to some of the retailers in exchange for their cooperation, says Matthew Bordwin, managing director and national co-head of the real estate services team in the Melville, N.Y. office of KPMG Corporate Finance LLC, a middle-market investment bank. Working with tenants on lease restructuring is one of the team’s key competencies.

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