Know what the returns depend on.
Trace the assumptions behind the headline numbers. Test what changes when rents, costs, timing or financing move.
COMMERCIAL REAL ESTATE ADVISORY
Get the underwriting and model review your team needs to make the next decision. Acquisitions, development, portfolios and complex capital structures.
See two problems we found in real model reviews, and how we worked through them.
Already have a deal to discuss? Book an introWHAT YOU GET
Underwrite a purchase, plan a development, restructure the debt or track a portfolio. We build and review the models your team uses to make those decisions.
Trace the assumptions behind the headline numbers. Test what changes when rents, costs, timing or financing move.
Work through debt terms, funding schedules and ownership waterfalls against the documents they’re meant to reflect.
Walk through the findings with us: what needs correcting, what needs more information and where your judgment matters.
Acquisition & development underwriting
Portfolio, REIT & corporate strategy
Model audit & review
Asset management & reporting
Waterfall & GP / LP structuring
Debt, refinance & special situations

PRINCIPAL-LED UNDERWRITING & ADVISORY
Work with a team that can follow the model from acquisition or development through financing, investor reporting and exit. Principal involvement keeps the deal’s context in the work, with analyst support for the build and review.
Edward Sapp · Principal
10+ years of experience · $40B+ in transaction experience
LET’S LOOK AT YOUR DEAL
Choose a time on Cal.com · Free 30-minute intro
The intro is free. Underwriting, model review and corrections are scoped separately.
Start with the walkthrough