Paradigm-Exeter Advisors offers real estate consulting services designed for real estate development and investment firms needing supplementary analysis and creative solutions to challenging asset management, asset repositioning, redevelopment, and development needs. In addition, we offer analytical and due diligence services for buyers of discounted distressed loans and properties.
CONSULTING
Lean staffing, fast-changing market conditions, and deteriorating asset performance are increasing the need for many firms to outsource their real estate analytical, operating, and problem-solving needs. Focus and speed-to-market with timely insight are keys to getting leasing and investment deals done in this challenging transaction environment. Our services range from conducting background market analyses to developing detailed asset strategies geared to reposition or improve underperforming assets, including:
Market Analysis – We can tailor the analytical scope to meet your needs whether the focus is to better understand the competitive market conditions and location characteristics of a specific site, or analytical work on a larger scale with cross market comparisons involving demographics, supply, demand, operating expense trends, lease comparables, sale comparables, zoning patterns, development activity, and infrastructure constraints.
Investment Underwriting Support – Lean investment teams facing exceedingly thorough underwriting demands made by cautious real estate lenders and equity investors often need analytical support to deliver a compelling underwriting presentation quickly. Paradigm can help you complete the market research, financial analyses, due diligence, lease reviews, credit analysis, risk assessment, documentation collection , and preparation of the concise investment memoranda you’ll need to move your deal forward.
Asset Repositioning and Creative Re-Use Strategies – With rising property vacancies and shifting tenant demand, creative re-use and repositioning strategies are the key to adding value to obsolete or underperforming properties. Paradigm can draw on its extensive experience to turn around, stabilize, and reposition your assets.
Development Feasibility and Deal Structuring – Developers, investors, and prospective joint-venture partners often need added market perspective, product expertise, and analytical capabilities to assess project feasibility and anticipate the full array of issues and risks that need to be addressed in a well structured investment.
Distressed Asset Investment Services – Whether you are an experienced distressed asset investor needing added capability on a large portfolio assessment or a less-seasoned player in need of deeper expertise to navigate the analytical challenges of some distressed opportunities, Paradigm-Exeter Advisors can help you get the job done on time and seamlessly. Our distressed asset advisory group can tailor our scope of work to carefully complement your existing capabilities and needs.
Asset Recapitalization and Debt Restructuring – Owners and investors need to carefully navigate the challenges of de-leveraging and refinancing maturing debt or refinancing expensive debt open to pre-payment. Paradigm can put its thorough knowledge of real estate capital markets, creative debt solutions, and lender covenants to use for borrowers facing technical or financial default with their loans.
Partnership Restructuring and Dilution Issues – LP and LLC members need to respond to impending capital calls and other dilution issues in an informed capacity. GP’s and LLC managing members may need third-party perspective on restructuring options or to formulate and negotiate a restructuring solution.
Asset and Property Management – Paradigm’s team of managers can augment your core operation or provide the full array of management services your properties need. The firm has extensive operating experience with offices in Boston and the mid-west and can produce the tailored financial reporting typically required by major institutions.
Nonprofit Real Estate Analysis – We offer services specifically designed to help nonprofit organizations occupy and operate their leased or owned real estate more efficiently with an eye toward right-sizing space requirements and saving costs wherever possible.
Tenancy-in-Common (TIC) Property and Asset Management – TIC management requires specialized skills to communicate operating and capital issues to investors. Paradigm has been a TIC sponsor and manager of past deals and has an investor services capability specifically designed to augment the communication needs of a TIC property investment.
Corporate Facility Management – Staff reduction, operations consolidation, and the constant need for increased efficiencies has placed recurring pressure on corporate management to right-size facility configurations and identify creative property cost savings measures. Paradigm’s long-term experience meeting tenant’s needs makes it well-suited to streamline and optimize corporate facility requirements.
DISTRESSED ASSET INVESTMENT SERVICES
We tailor our analytical services supporting distressed debt and equity investors depending on scale and needs. For specialized distressed debt investors with dedicated funds and in-house underwriting expertise, we can augment your staff capabilities to tackle larger portfolio acquisitions on a fast-track basis or analyze underlying market conditions and collateral issues in markets where you may lack presence, geographic coverage, or immediate access to in-depth local market knowledge and insight. For experienced commercial real estate investors that have limited non-performing loan experience, we can assist you with your analysis, underwriting, loan document review, and other due diligence requirements. We can also help you anticipate how borrowers are likely to respond to various resolution efforts that you may pursue. Our investor service capabilities include:
Loan Document Checklist – Our team will go through an internal checklist to make sure the list of supplied or available loan documents is complete and then organized for quick and easy access.
Loan Document Review – We can coordinate with selected counsel to review the loan documents, check the accuracy of loan information abstracted in document summaries, and evaluate any issues that might potentially impair the value and enforcement of the debt instrument.
Collateral Due Diligence – We can review the underlying asset’s location quality, market trends, physical condition, rent roll, tenant credit, lease rollover exposure, property operations, management, cash flow projections, environmental issues, reserve account adequacy, and recent and planned capital improvements to fully support or selectively complement your due diligence needs.
Operating, Legal, Environmental, and Financial Risk Assessment – Our risk assessment is designed to cover the array of issues encountered in loan document review and collateral due diligence with findings compiled in summary format for an insightful overview and easy reference to appended back up materials.
Contingent Collateral Recovery Strategies – Whether the investment is contemplated for a hold-to-maturity or a likely candidate for a loan-to-own scenario, we can help you consider the legal and tactical issues associated with various asset recovery strategies.
Loan Pool Investment Due Diligence – We are ready to assist with loan due diligence and collateral analysis at the portfolio level and can organize our findings in summary format using buyer-supplied or our own internally designed checklists and presentation templates to support your underwriting analysis, valuation, and risk assessment.