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The support you need, where you need it….
Profitability is rarely just about the rent. With Mr. Branscomb’s experience as an Asset/REO Manager with Lennar Florida Partners and its acquisition of a series of AmeriFirst portfolios, Branscomb Realty is capable of providing comprehensive due diligence to the institutional investor. By extensively evaluating a portfolio and each asset in person, Branscomb Realty can help the investor predict success with two core services: Preliminary pricing and due diligence.
….in time, to add value.
Preliminary Pricing - Branscomb Realty will use a client’s financial models or its own to analyze the market data provided by the underwriter or seller to arrive at preliminary pricing and valuation guidelines. The guidelines are created by developing a five-year strategic plan and are accompanied by bullet points covering assumptions and relevant issues designed to assist the investor in forming a sense of value and risk in a transaction or investment.
Due Diligence - Mr. Branscomb will put himself in the shoes of the Loan Servicer who has to deal with problem loan situations on a daily basis. He views the due diligence as having three components: Asset Underwriting, Site Inspection and Legal Review of Trust documentation and delivers the results on each asset both electronically and in individual Roll Up Book.
Asset Underwriting & Risk Assessment - Mr. Branscomb is experienced in using the two page, five year strategic plan as a format and underwriting model for each loan in a pool. He will follow the client’s direction which he would expect to include a review of all the documents contained in the issuer’s loan file: the rent roll, financial statements, property budget, appraisal, environmental report (as delivered through a client’s attorney), property condition report, major tenant eases, and management agreement. Using these documents, he will redevelop the Five Year Strategic Plan provided in the preliminary pricing phase to deliver a better view of each asset. Each Plan will include a wide array of comments identifying sources and assumptions. Mr. Branscomb will forward legal and financial documents such as deeds, notes, and mortgages, etc. for legal review per the client’s instructions. Legal and loan comments may be incorporated back into the Roll Up Book. Debt service and cash flow projections may also be inserted into the Five Year Strategic Plan.
Site Inspections - Mr. Branscomb will conduct personal site inspections to gather up-to-the-minute market information on any property collateralizing a loan. The goal is to reveal any significant discrepancies that may not have yet surfaced. The inspections confirm occupancy, rental rates and property condition. As part of the report, he will identify and visit no less than three competing properties and outline the basic terms of comparable leases at these properties. The Site Inspection Report is incorporated into his Roll Up Book and serves to assist the institution in arriving at “puts and calls.”
Legal Review of Trust Documentation - Branscomb Realty will work with the investor’s legal staff to incorporate their review and comments into a two page report.
Roll Up Books - Branscomb Realty will electronically merge the Five Year Strategic Plans and financial projections to roll up with the investor’s master pro forma schedule. Then it will create a Roll Up Book on each asset which has approximately 18 tabs that begin with an Asset’s Strategic Plan and ends at the Leasing Status Report. Along with pictures and maps, the Roll Up Book tells it all.
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