Archives: Case Studies

Oakmore’s executives were engaged to review due diligence materials, lease up costs, financial projections, and modeling in connection with the $18M acquisition and partial repositioning of an 800,000 square foot….

Oakmore’s consulting group was retained to review management records for a 30 unit portfolio of westside apartment buildings, and render an opinion as to the effectiveness of the then current management. We were asked to determine whether the lease rates were at market and if the expenses were reasonable. We reviewed all leases, unit turnover/vacancy factors, and comparatively analyzed expenses in relation to similar properties. This was particularly challenging as most of the bookkeeping was done in handwritten general ledgers. As a result, we had to reconstruct the operating data for multiple years. Moreover, we reviewed management agreements and accounting practices to determine appropriateness. Oakmore was able to tap into its network of management professionals to discuss and verify its findings. Due to our deep management experience, we were able to identify several unusual items that that had a direct impact on Net Operating Income. Specifically, we were able to point to areas where income should have been higher than it actually was, enabling our client to recover that lost revenue.

Oakmore’s executives were engaged to review due diligence materials, lease up costs, financial projections, and modeling in connection with the $18M acquisition and partial repositioning of an 800,000 square foot multi story medical office complex. Additionally, we were requested to conduct a forensic review of existing leases, CAM reimbursement and related collections, as well as past leasing strategies. Moreover, we reviewed supporting assumptions and calculations concerning operational performance in connection to the proposed issuance of bonds to facilitate the financing for the purchase. We also researched the area to ascertain accurate rent comparables and determine the feasibility of the lease up projections. Lastly, we were tasked with reviewing preliminary research and modeling to ascertain the viability of repositioning part of the square footage into alcohol and drug rehabilitation facilities, and nursing schools. We worked in conjunction with the principal’s underwriter and accountants.

Oakmore located an existing liquor store on a hard corner on a well trafficked street in South Gate, CA for one of its development clients. Considering it had an existing….