Asset Underwriting & Analysis

Commercial Property Underwriting & Analysis

All properties are unique. There value is based on many factors including…

Type
Location
Size
Tenant(s)
Quality
Competition/Supply
Tenant Demand
Operating costs
Capital Markets & Financing
Local, Regional, National and Global markets factors
Buyer/Investor/User Demand – Local, 1031, Private Equity, Owner/Operator, Family Office or Institutional Investor

The challenge many owners and brokers face is the analysis and packaging of these factors to tell a professional-compelling story to ideal targeted buyers/investors that gets good deal done.

We help property owners understand the value of their property to the market by providing Valuation Analysis Packages that include the following helping our clients think through scenarios based on their objectives.

Property diligence

Property description
Operating, improvement and maintenance history that details
Location characteristic differentiators and discounting factors
Property characteristic differentiators and discounting factors

Rent roll analysis

Tenant mix, lease term analysis and re-tenanting exposure
Tenant operating, financial strength and securitization underwriting analysis
Tenant to property/location dependencies and risks

Financial analysis

P&L analysis and cashflow scenarios based on improvements, lease adjustments, and operating cost changes
Yield analysis based on the ideal buyers and how these map to their waterfall objectives
Financing analysis to identify and analyze lenders and their rates

Market competition analysis

Existing & planned competitive inventory supply
Market rental rates, concessions and expenses
Tenant demand for the product (absorption)

Capital market analysis:

Who are the ideal buyers for a property and why
Who are not ideal buyers for the a property and why

Client Experience

Accenture

AMB Property Corporation

AT&T

Crow Holdings

INW Group Labs

Primera

PS Business Parks

RREAF

TIAA

UBS

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Looking for market lease and sale comps? We would love a chance to will your trust and your business.

Contact an expert

Tom Dodge

Partner, CCIM

Max Knake

Partner

KnakeDodge & Company has been exclusively retained by Owner to represent the offering of its interest in The Property. The undersigned Recipient hereby acknowledges and agrees that certain confidential information which has been or may be disclosed in the future is intended solely for Recipient’s own limited use in considering whether to pursue negotiations to acquire the property listed above.

Neither Owner nor KnakeDodge & Company or any of their officers, employees or agents make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto.

Information provided has been or will be gathered from sources that are deemed reliable but Owner or KnakeDodge & Company does not warrant or represent that the information is true or correct. Recipient is advised to verify information independently. Owner or KnakeDodge & Company reserves the right to change the price, or any information provided or to withdraw the Property from the market at any time without notice.

Recipient agrees that the information provided is confidential, that Recipient will hold and treat it in the strictest of confidence, that Recipient will not, directly or indirectly, disclose or permit anyone else to disclose this information to any other person, firm or entity without prior written authorization of Owner or KnakeDodge & Company and that Recipient will not use, or permit to be used, this information in any fashion or manner detrimental to the interest of the Owner or KnakeDodge & Company. Photocopying or other duplication is strictly prohibited.

While Owner and/or KnakeDodge & Company may discuss the purchase and sale of the Property with Recipient, either Owner or KnakeDodge & Company in our sole and absolute discretion, may terminate discussions at any time and for any reason. Recipient acknowledges Owner has no obligation to discuss or agree to the sale of any of the Property. The discussions may be lengthy and complex, notwithstanding that we may reach one or more oral understandings or agreements on one or more issues we are discussing, neither of us shall be bound by any oral agreement of any kind and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or KnakeDodge & Company except to the extent expressly set out in a written agreement signed by both Owner and KnakeDodge & Company.

The Recipient acknowledges and agrees that they are acting in the capacity of a Principal and not an agent of or acting on behalf of any other party in connection with the purchase of the Property, and as a Principal will not look to the Owner or KnakeDodge & Company for any brokerage commissions, finder’s fees, or other compensation in connection with the sale of the Property or any interest therein. The Recipient further acknowledges that it has not had any discussions regarding the Property with any broker or agent other than KnakeDodge & Company.

THE OWNER EXPRESSLY RESERVES THE RIGHT AT ITS SOLE DISCRETION TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPERTY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME WITH OR WITHOUT NOTICE.

If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue such negotiations, you agree to return all confidential information to Owner or KnakeDodge & Company. Otherwise, please enter and acknowledge through the form below and submit.

THIS CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THE MEMORANDUM.