How Engagements are Structured
Three Sectors. One discipline applied across each.
The work is shaped by what the deal actually is. A branded hospitality acquisition asks different questions than a multi-family development.
A business acquisition asks different questions than an income-producing real estate deal. The descriptions below are what we actually do across each.
Three areas of work.
How We Evaluate Each Deal
Developments
Total cost breakdown across land, hard costs, soft costs, finance, and contingency
GDV supported by comparable evidence, development margin against threshold
Return profile (ROC, IRR, equity multiple) and capital stack (LTC, equity gap) tested against the fund's criteria and market norms
Planning status, environmental assessments, and whether the LOI window is realistic
For sponsors seeking JV partners we make introductions under mandate. Deal-by-deal, by application only.
Income-Producing Assets
Title, ownership, zoning, permitted use
NOI integrity, implied cap rate against market
DSCR and LTV against lender thresholds
On hospitality: RevPAR against STR data, GOP margin, operator and brand obligations, FF&E and PIP position
Counterparty and broker chain validation
Jurisdiction, structure, and cross-border tax position where relevant
Business Acquisitions
Strategic fit, scope of what's being acquired, organizational structure
Three years of financial integrity, EBITDA normalization, customer concentration
Acquisition structure, tax position, purchase price multiple against comparables
Value creation plan, key person risk, management retention
Exit alignment | strategy, timeline, market credibility
For sellers: exit-readiness assessment before going to market
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Each engagement starts with a conversation. Send a short note. We'll take it from there.