Public and private organizations alike need a trusted advisor with an in-depth understanding of real estate. When organizations need to make critical equity and debt investment decisions or look to preserve and enhance asset value, they rely on FTI Consulting for deep industry expertise, unbiased analysis and unparalleled support for their transaction and operations strategies.
Global public and private real estate companies, including owners and developers, REITs, financial institutions, private equity funds, insurance companies, family offices, governments, as well as origination and securitization lenders, seek out FTI Consulting to provide our unmatched expertise in:
Transactional strategy: Transaction structuring and development of a capital markets strategy, offering memoranda and investment books, historical and prospective cash flows, and strategic observations and operational consulting
Due diligence: Corporate-level merger and acquisition due diligence, property and entity-level due diligence, working capital reviews, site inspections and tenant interviews, market assessments, property, portfolio and enterprise valuations, expense recovery analyses (e.g., operating expenses, real estate taxes, capital improvements, CPI escalations, porters’ wages, HVAC, etc.), and real estate tax assessment review
Financial analysis for portfolios and single assets: Financial statements, operating statements and rent rolls
Financial modeling: Asset- and portfolio-level cash flow and DCF; JV and promote modeling for IRR and return analyses and track records; public-to-public, private-to-public and public-to-private pro forma modeling; development deal pro formas (highest and best use analyses); sensitivity analyses (pre- and post-tax); contracts, agreements, site inspections and closing statements
Clients with properties ranging from single assets to major national real estate portfolios benefit from our in-depth understanding of real estate values and market dynamics. We assist in underwriting property cash flows for disposition or providing due diligence for third-party purchasers.
Our services include:
Valuations financing, corporate planning, and mergers and acquisitions
Valuations for financial reporting — ASC 820 (formerly FAS 157) and International Financial Reporting Standards
Partial interest valuations
Real property appraisal and portfolio valuations and market leasing assumption analyses
To maximize the contribution of their operating platform to their bottom line, we help clients align business strategy, organization and management with day-to-day work processes and reporting.
A periodic program of portfolio optimization includes an evaluation of investment goals, risk management and investment strategies needed to secure and maximize short- and long-term returns to investors. We help clients to identify core and non-core assets, and to evaluate and select alternative investment and tax-advantaged strategies to meet and exceed their goals and objectives.
Services include:
Strategic planning
Performance benchmarking
Asset classes and concentrations
Long- and short-term hold/sell analysis
Acquisition and disposition strategies
Transaction strategies and tax planning
Due diligence and underwriting
Income and expense analyses
Valuation/appraisal — mark-to-market
Opportunity and risk assessment
Forensic investigations
Implementation
Financial reporting and interim management
Data systems management
Transaction and project management oversight
Asset repositioning strategies
Capital planning and budgeting
Broker and management due diligence and negotiation
Clients turn to our experts to help them determine the key drivers for creating maximum project value. We help you manage relationships among investors, developers and public sector stakeholders to create and execute complex development projects. In addition, we help you access capital, and articulate the economic and business benefits of projects to satisfy investor and regulatory requirements.
Services include:
Strategy: Highest and best use, land use, economic and community development, public benefits and capitalization, and feasibility
Project program and public policy review: Market and financial feasibility, investment analyses, and transaction support
Due diligence and underwriting: Valuation and appraisal, economic and fiscal impact analyses, public/private partnership structures, project finance planning, technical reports, and implementation
RFP responses: Construction management oversight, outsourced accounting and tax analyses, regulatory compliance
We utilize a quantitative and qualitative approach that aligns with clients’ business requirements and key objectives to communities and locations that meet their long-term needs. By effectively marketing a client’s organization as part of the site selection and incentive negotiation processes, we help them obtain maximum public incentives and tax credit benefits.
