When to call Mohr?
WHEN: AN EXAMPLE
- You have a lease expiring.
- You are expanding rapidly.
- You have an underutilized or under-performing real estate asset.
- You want to turn your real estate asset into cash.
- You need focused attention on a real estate problem.
An Example
George Grace was hired to assess the real estate of a well known social service provider in New York City. The company owned four real estate assets including their home office, a large camp in upstate New York, a program facility in Harlem and rights to a program facility in the South Bronx. Their need was to form a strategy on how best to use and capitalize on the inherent value of their real estate.
Our due-diligence included analyzing the uses of each property and their respective values. With our client’s input and as a result of our analysis, we developed a strategic plan. Some of the buildings required significant deferred maintenance, while other properties were underutilized. Some properties were very valuable and could easily be sold. Our plan called for the sale of the camp and the use of the proceeds for the re-development of the main program facility. Conceptually simple, but it required a formidable amount of analysis to prove the benefits of the plan outweighed the status quo or other alternatives. Furthermore, there was a great deal of emotional attachment to the asset proposed for disposition. Ultimately, the board of directors unanimously agreed to the sale of the camp. We managed the process by hiring a local expert to assist us in the marketing of the property which was done successfully. Because of our knowledge of the real estate brokerage business, we were able to negotiate the fees of the local broker to a level that was much less then a typical brokerage fee. The savings we garnered from the lower brokerage fee paid for our initial analysis.
