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Custom Excel Models for Investment Bank

Situation

An investment bank engaged Realogic to design a portfolio-wide Excel solution to analyze over 1,000 debt and equity positions for all commercial real estate product types.

The client needed a model for all types of unleveraged asset that illustrates the existing cap stack. The client also wanted to input the requisite assumptions for the ideal hold period and disposition of said assets.

Solution

The Realogic team has worked closely with the client at all stages both from our home office as well as at various client offices onsite to get face-to-face feedback and also to ensure that the implementation process goes as efficiently as possible. Realogic has leveraged its versatile understanding of financial analysis as well as its unique set of Excel skills to come up with a solution that met both the client’s immediate needs as well as continues to assess and manage those that would be more ongoing in nature.

Tom Kaveney, Sr. Associate

Tom Kaveney
Sr. Associate

"The Realogic team worked closely with the client throughout all stages implementation. Realogic leveraged its thorough understanding of financial analysis and its unique Excel skill set to develop a solution that met both the client’s immediate needs and was flexible enough to satisfy ongoing requests."
Tom Kaveney, Project Lead

Realogic Provides Support for Portfolio Sale

Situation

National brokerage firm was engaged to sell a 45 building portfolio.

Solution

Realogic’s responsibilities included:

  • Produced and implemented ARGUS files
  • Provided historical expense normalization on the entire portfolio.

Portfolio was sold without any retrades as a result of the comprehensive and accurate analysis during the preparation of cash flow models for inclusion in the offering memorandum.

Outsourcing Partnership for Entire Financial Analysis Process

Situation

A national sponsor of multiple private equity funds needed an outsource partner to assist them in financial analysis both during and after an intensive acquisition effort.

Solution

Realogic was engaged in an ongoing relationship to manage the financial analysis process for their entire portfolio of 75 buildings, approximately 12 million SF, with over 1,000 tenants.

The process included:

Ongoing

  • Monthly maintenance of Dyna (ARGUS Asset Management®) files which are updated for new contractual tenants, reforecast tenants, YTD account data, and reforecast account data.
  • Importation of Dyna data into a Realogic-built spreadsheet which facilitates the calculation of property level and portfolio level unleveraged and leveraged returns, general and limited partner internal rates of return, and detailed line of credit rebalancing.
  • ARGUS® analysis for all due diligence transactions, including importing ARGUS data into a Realogic-built acquisition model.
  • Annual assistance with Dyna budgeting and valuation processes.

Special Projects

  • 100% lease audit of the complete portfolio used to improve the accuracy of Timberline lease data.
  • Development of Executive Reporting System.
  • Development of web based Budget/Reforecast System which streamlined Dyna reforecasting and budgeting.

Realogic Partners with Client Acquisition Team

Situation

A mid-sized REIT desired a vendor to augment its 5 member internal team for work on single asset and portfolio acquisitions on an as-needed basis.

Solution

Realogic’s responsibilities included:

  • Completed lease abstracts during due diligence
  • Used ARGUS® and compared results to the cash flow analysis
  • Summarized differences for appropriate negotiation by client
  • Ongoing cash flows exported into tailored spreadsheet projecting FFO, straightlined rent adjustments, leveraged and unleveraged returns and yields
  • Performed cash flow analysis and valuation and return sensitivities under critical, due diligence time constraints.
  • Upon closing, assets converted to Dyna (ARGUS Asset Management®) for asset management purposes.