Service

REAL ESTATE

Real Estate Valuation Services

Our Real Estate Consulting practice helps companies make better real estate business decisions. Through our extensive and diverse valuation and consulting experience, we have developed an in-depth understanding of the interplay among asset valuation, capital markets and current real estate marketplace issues. To help companies achieve their long-term and short-term business goals, we offer a strong combination of technical skills, industry and marketplace knowledge as well as a commitment to excellent client service. Our team includes valuation specialists, financial analysts, accountants, engineers and other specialists focused on the real estate industry.

How we can help you

We serve clients throughout nearly all industries, handling many types of property-related issues, including fee and leasehold interests, debt and equity positions, securities investments, and complex property analysis and valuation. We cover the full spectrum of real estate valuation services, from evaluating large and diverse portfolios to performing single-property analyses, as well as identifying and performing valuations of tangible and intangible real estate-related assets including in-place leases, above and below market leases, and tenant relationships. We provide Real Estate Services across a complete business cycle.

Acquisition Services

Operational Services

Disposition Services

Services at a Glance

Real Estate Due Diligence

The due diligence process is the most critical part of real estate transactions for acquisition, disposition or restructuring. We offer assistance with a variety of due diligence requirements, such as

Due diligence for acquisitions and/or investment transactions
Examination of contractual terms
Property inspections
Market studies
Cash flow modeling (Argus/Excel)
Lease abstraction

Real Estate Valuation

We provide real estate valuation services for the purpose of financial and tax reporting. As per the current requirements of FASB and IFRS, companies must value and book certain tangible and intangible assets acquired through real estate transactions for financial reporting purposes. We provide services for valuation of single assets or a portfolio of assets as well as business, intangible and personal properties associated with the real estate asset.

Lease Audit Services (Corporate Tenants)

We help corporate tenants maximize the value of their commercial leases by identifying opportunities for cost savings within the lease provisions. We test the validity of operating expenses and real estate taxes billed by a property owner to a tenant. Our test process includes reviewing the property owner’s operating expense reimbursement methods and determining if the landlord is adequately billing tenants. After completion of a lease audit, our specialists will assist in the negotiation of recovery variances, as appropriate. Savings often range from fifty cents to more than $15 per square foot.

Cost Segregation Studies

We provide cost segregation analyses to help clients properly identify and classify expenditures eligible for accelerated depreciation deductions. A cost segregation study is an analysis of historical real property costs performed to appropriately identify building assets that can be depreciated at an accelerated rate, typically resulting in increased depreciation benefits for federal income tax reporting purposes. Situations that may trigger an opportunity for a cost segregation study can include

Market Analysis and Development Studies

The ability to make sound decisions is deeply rooted in the quality of information that is available to the investor. Sycamore can help analyze markets, market assumptions and/or financial indices affecting geographies, real estate assets and businesses. As markets become more complex, so do the real estate transactions within each market. To assist our clients in making the right business decisions, we provide market analyses and development studies, which help analyze economic and/or demographic data within targeted geographies to estimate their effect on a particular investment or development project.

Analysis of Distressed Assets

Real estate can become distressed for any number of reasons, and our professionals can help identify the causes and analyze the impact on a property’s cash flow and/or value, including various valuation scenarios such as market sale and liquidation. An analysis of distressed property will incorporate a number of other services including due diligence, valuation, and highest and best use, and can be used by owners, lenders, potential investors and attorneys.

Golf, Hospitality and Recreational Real Estate Services

The proper analysis of Golf and Hospitality assets often requires a unique perspective. Within our Real Estate Consulting practice are professionals that focus exclusively on these types of assets. In addition to the other services outlined here, we can provide

Club conversion studies
Membership studies
Hospitality penetration analyses
Strategy and repositioning studies
Franchise and management studies
Interval ownership analyses

Portfolio Services

Our professionals frequently deal with large portfolios of real property assets on a regional, national and even global basis. A real estate portfolio may need to be considered differently than a single asset in terms of the way analyses are performed and how the results of those analyses are interpreted, and we are adept at discerning these differences. We can perform any of the above-listed services with an eye toward your portfolio, as well as perform additional functions such as

Industries We Serve

Media & Entertainment

Oil & Gas

Hedge Funds

Power & Utilities

Banking & Security

Automotive

Federal Government

Customer Products

Real Estate

Technology

Telecom

Health Care

Aerospace & Defence

Private Equity

Life Sciences