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Situation

Contracted by buyer of 650,000 sq. ft. office bldg to abstract 110 leases, compare results to existing ARGUS® file, and present all reconciling items to buyer for negotiation of potential "credits" at closing.

Solution

Realogic’s responsibilities included:

  • Abstract all leases
  • Compared results to ARGUS
  • Documented 55 reconciling items between ARGUS and the leases.
  • Performed ARGUS sensitivity analysis on reconciling items at the direction of the buyer.

Financial due diligence and ARGUS sensitivity completed on time. One of the reconciled items found $4 million of free rent for an anchor tenant that was not modeled in ARGUS.