Acquisitions Support

  • Lease Abstraction
    • Our team has abstracted thousands of leases on behalf of both landlords and large corporate tenant groups. We can quickly modify and customize our Excel-based template to capture exactly the lease attributes that are desired, or abstract directly info your existing software system. We can also provide summary reports on key lease attributes that we abstract.
  • ARGUS Valuation-DCF Cash Flow Model Analysis
    • Our team has built ARGUS Valuation-DCF™ cash flow models from the ground up as well as reviewed and updated hundreds of models for some of the most complex assets. We provide a very detailed review of every input and assumption used in the model and compare to our abstracts, and the seller’s rent roll and financials.
  • Other Financial Analysis
    • As selected by our clients, this may include a review of historical financials in order to perform trending analysis against the NOI from the Seller’s ARGUS model, a detailed general ledger review, a tenant ledger review, security deposits verification, property tax pro-forma analysis and various other items from our service menu.
  • Contingent Liability and Contracts Review
    • We also perform on-site tenant, vendor and capital file reviews, review third-party reports such as the property conditions assessment report and cross-reference with capital budgets, and provide several other services listed in our service menu.
  • Re-Trade Summary
    • In addition to our executive summary report and supporting exhibits we provide a detailed list of any discrepancies noted between our abstracts and the seller’s ARGUS model on a tenant by tenant or expense line-item by line-item level. We give your team exactly the information they need for negotiating any potential purchase price adjustments.

Debt and Lender Services

  • Lender Reliance Letters
    • As part of our acquisitions due diligence services, we can provide lender reliance letters for our borrower clients so that their lenders may rely on the results of our due diligence report similar to reliance letters commonly issued by companies providing environmental assessment and property conditions assessment reports.
  • Underwriting Support
    • We provide property level financial analysis to both lenders and companies purchasing debt instruments to aide in their internal underwriting process. This service may include lease abstractions, analysis of tenants’ creditworthiness, review of pro forma cash flow models and review of loan covenant compliance and relevant ratios.
Our services

Contact us to request a copy of our due diligence service menu, deal sheet, standard lease abstraction template, and/or our expense recoveries review brochure.

Asset Management Support

  • Expense Recoveries Review
    • Sometimes referred to as a reverse lease audit, this is a contract compliance engagement to test the accuracy and reasonableness of expense reimbursement charges to tenants, based on a thorough review of the leases, accounting records and operations of the property. The ultimate goal is to identify potential value-added revenue through increased expense recoveries, with careful consideration of local market expense comps and tenants’ ability to pay. Our past projects have averaged $0.10 to $1.00 per square foot per year in increased cash flow.
  • ARGUS Valuation-DCF™ Cash Flow Models
    • Our ARGUS Valuation-DCF™ experts help our clients in preparing quarterly ARGUS model updates utilized for internal valuations and investor reporting. We also help build or update ARGUS cash flow models and provide pro forma analysis when looking at assets for disposal.
  • Property Tax Consulting and Appeals
    • Our team includes professionals with a background in property tax consulting with experience working in numerous states. We offer our clients both ongoing property tax monitoring and compliance services as well as property tax appeals/protests to help you minimize your property tax expenses.
  • Updated Lease Abstracts
    • Whether it’s providing full operational abstracts or simply abstracting key options and encumbrances and creating a stacking/priority plans, we can give your team the tools it needs to strategically manage and lease your properties. We can abstract into our client’s existing format or software, or our own Microsoft Excel-based templates.

Accounting Support

  • Expense Reconciliations Preparations
    • We can help take the burden off your accounting and property management teams in order to provide timely and accurate expense reconciliations that maximize the recoverability of your properties’ expenses. Many times we will combine this service with our detailed Expense Recoveries Review.
  • Prepare/Review Sale Pro-rations
    • Often times the accounting group is tasked with preparing the sale pro-rations on top of their normal recurring duties. Our expertise and experience working in both acquisitions and accounting helps our clients more effectively manage the post-close process for newly acquired properties. We also assist in preparing or reviewing the account mapping of buyer and seller accounting systems as part of this process.
  • Data Integrity Testing
    • We help our clients in improving and monitoring their internal controls (part of meeting Sarbanes-Oxley standards for publicly traded clients) by testing the accuracy of the accounting data in their systems. Our services include helping design and perform testing of information in the accounting and property management systems back to the source documents, i.e. the lease agreements.
  • Data Migration Assistance
    • For our clients who are looking to implement a new property/asset management or accounting software system, or simply update their current system, we provide an unbiased recommendation on software solutions and the most cost effective way to capture or transfer your lease agreement data.