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About Realty Concepts, Inc. Established 1984
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KNOWLEDGE: In our area of expertise, we have over 25 years of acquired special skills and experience. Associate Consultants may be used when their knowledge is relevant and helpful to the client. We do not sell a service that we cannot provide.
EFFICIENCY: We address problems in our field daily; thus, we have a database and methodology to get a job done better, faster, and at less cost than a client can on their own. The client benefits from a rapid resolution with relevant data; and no disruption of business or staff additions with long*-term costs. No effort is wasted in an unfocused approach.
OBJECTIVITY: We present an independent view without filtering from any source. We know the limits of our own role; thus, we direct the client to other sources when appropriate. Our reputation is based upon an honest approach to your problem.
CONCENTRATION: We are expedient in completing your job so that you can focus on other issues without diversion and with an expectation of a report from us on an agreed date.
CONFIDENTIALITY: We guard your identity and purpose. Communications can be structured so that employees and others are unaware of our efforts.
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Case Studies
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DUE DILIGENCE FOR ACQUISITION AND LENDING- At the request of a major credit corporation, RCI reviewed a project that was under construction. Realty Concepts, Inc.‘s investigation included zoning, work in place, and design compatibility with the economics of the business venture. RCI’s recommendation enabled the client to understand the project and its risk at a significantly higher level for investing and lending. In this case, real estate knowledge was combined with the operating needs of a specialized manufacturing process.
WORKOUT CONSULTATION- An investment group utilized RCI’s services to review a portfolio of six properties. After discovery and analysis, recommendations were proposed for an orderly liquidation of the assets.
COUNSELING- A major property developer with a large staff sought RCI’s review of a proposal to refinance the property. Our independent observations identified income which the staff had overlooked, which, when capitalized, was potentially worth several million dollars.
SITE ANALYSIS AND EVALUATION- RCI was asked to determine the development potential of a 350*-acre parcel in New York state. Zoning codes, road specifications, and other factors were reviewed to determine potential development revenues and expenses. Absorption and market conditions were estimated to arrive at the economic return at various sale prices. This study included communications with over 15 different government agencies. RCI’s expertise in development consulting gave the client a clear view of the risks to consider.
FISCAL IMPACT ANALYSIS- Marriott Corporation needed an impact analysis to comply with the Planning Zoning Commission regulations of a Connecticut town. RCI studies the real estate values in the subject site area. The benefits of the hotel’s presence in the town were analyzed. RCI’s study helped Marriott obtain approval from the town’s commissions.
FEASIBILITY ANALYSIS- A client asked RCI to assess the market and the expense to develop an indoor ice skating facility. RCI reviewed the potential users, the competition, the technical operating issues, the construction cost, and created a pro forma of operations. This analysis permitted the client to make a decision.
PARTNERSHIP VALUATION- When partners desired to dissolve a partnership, their attorney hired RCI to evaluate the status of the real estate for the liquidation of the assets of the partnership. RCI identified the issues that had been improperly managed and recommended a solution that permitted a least cost limiting of liability.
PROPERTY MANAGEMENT- RCI provided Development Consulting that led to RCI being the property manager for a 50,000 sq.ft. central business district historic renovation building. RCI is on 24*-hour call and provides janitorial services. RCI’s Due Diligence services led to the property management of a 126,000 sq.ft. medical office building in an urban market. Operating expenses have been reduced and tenant satisfaction raised.
DISPOSITION ANALYSIS- A non*-profit engineering society which owned a 40,000 sq.ft. building with ample parking in an urban market sought RCI counsel on how to sell its building. RCI evaluated a sale “as is”, a sale “as improved”, a sale of the leasehold, and a sale as condominiums.
DEVELOPMENT CONSULTING- RCI was referred to an architect’s client who wanted to develop residential condominiums. After completing a Highest & Best Use Study, a retail strip center with a branch bank pad was developed for high*-end women’s fashions. The client achieved a 100% rental of the retail space prior to completion of construction, all rents were $2.00 above any comparable rents. This was accomplished due to RCI’s tenant gas analysis and Highest & Best Use Study.
PORTFOLIO MANAGEMENT- RCI was hired to analyze a portfolio of ten properties. The client was convinced he should sell all the properties due to poor performance. After an in*-depth study of each property, RCI was able to advise the client as to which properties to retain, refinance, and/or liquidate. RCI was then asked to manage the remaining assets.
MORTGAGE FINANCE- RCI was successful in helping a client avoid foreclosure by a commercial bank unwilling to renew a term loan. RCI prepared a financing proposal with operating data to secure a new loan from a major credit company.