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Lease Consulting - Solutions

Merger & Acquisition Support 

As part of a planned merger, a client was about to inherit a number of leased locations. They needed to perform due diligence on the acquired locations, reorganize existing lease files, and get the information into their lease administration database as soon as possible to insure a smooth transition of payment responsibility.


Solution

CRS was retained to travel to the locations where the files were kept to reorganize them, prepare detailed lease abstracts, populate the database, and establish the monthly rent roll.  CRS was selected to do the work because we promised a higher level of accuracy and a deeper level of detail, while generating net cost reductions in portfolio occupancy costs.

As part of this process, CRS established a spirit of cooperation with the acquired company and the new landlords, identified and obtained critical missing information, filled in gaps in the financial records, and performed lease audit services at a crucial juncture when the parties were most available for resolving discrepancies.  CRS required minimal attention from the Client to complete the assignment and generated lease audit savings that were over seven times the cost of its services.