Challenge

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.