Bolan Smart Associates


Market and Financial Feasibility

Market Analysis - One of the basic fundamentals of real estate analysis is assessing marketplace demand for any type of land use(s). This type of undertaking requires competitive benchmarking, product positioning (definition, mix, price point/rental rates, absorption, etc.), the supply and demand equation (market support), adjacent land uses / location / neighborhood analysis to determine market compatibility, demographic analyses, trade area definitions and more.

Asset Valuations / Highest & Best Use Analysis - Property valuations can be conducted on an "as is" basis or subject to a more comprehensive highest and best use analysis depending on the requested scope / report purpose. Standard valuations typically employ the sales comparison and income approaches to value. Additional services encompass verifying property ownership information (for multiple property analyses), zoning designation, determining property market values, business motivations as "going concerns", leasehold buyout implications, evaluating parcel consolidation issues, and possible threshold redevelopment levels.

Acquisition / Disposition Due Diligence - Services range from market analysis, preparation of Request for Proposals / Solicitation for Offers, evaluation of bidder submissions to RFP's, negotiations with developers and preparing cash flow proformas for any given property type based on specific financial investment parameters.

Site Selection Studies - From headquarter relocations to suburban campus searches, we conduct geographic site surveys, profile selected properties and assist in evaluating and ranking sites base on prioritized selection criteria.

Development Programming

Development Planning - Services include strategizing over appropriate scale, type, mix and price points of their proposed new offerings. Of particular importance is confirming the timing of delivery for the different mix of uses in order to maximize asset value.

Proforma Analysis - A step beyond our market and financial feasibility services, our proforma analysis / development feasibility work also includes preparing and refining cash flow proformas, deal structuring and product positioning and phasing.

Public / Private Partnerships - Bolan Smart has been very active in seeking ways to bring development energy to a variety of publicly owned and often encumbered real estate projects through creative deal structuring.

Economic and Cost / Benefit Analysis

User Occupancy Cost / Benefit Analysis - The firm specializes in assessing the economic returns of various investments options related to probable occupancy scenarios. This financial analysis derives a net present value (NPV) for each occupancy scenario from which an economic comparison between alternatives can be evaluated to effectuate the most financially beneficial course of action.

Economic Impact - Tasks range from evaluating the economic costs and social benefits of a contemplated investment to completing detailed project based tax revenue projections for complex, multi phased mixed use developments. Bolan Smart has also worked for municipalities in measuring the fiscal costs and revenues associated in conjunction with master planning efforts and in the assessment of development impact fees.

Community Planning

Community Planning and Development - Assisting communities in preparing comprehensive plans helps with managing growth. What we do to shepherd this process is to analyze historical, current and projected supply and demand factor impacting growth. Some of the specific tasks comprise taking inventory of the existing real estate and packaging the data in terms of types of land uses; defining primary user groups; delineating trade areas; conducting demographic surveys; assessing target markets; identifying market drivers; describing development opportunities; and providing comparisons with industry benchmarks.

Strategic Facilities / Master Land Planning - Our strategic facilities planning capabilities are often provided to corporations and non-profit organizations with under-performing or under-utilized real estate assets or portfolios. The goal of a big picture facilities analysis is to enhance the overall performance of their real property assets. Objectives assessed as part of this process, include: 1) operate at lowest optimal cost; 2) increase operational effectiveness; 3) enhance corporate image and working environment; 4) maximize flexibility; 5) maximize asset value; and 6) minimize real estate related financial and management liabilities.

Affordable Housing Policy and Implementation – Bolan Smart has worked with local municipalities to assess the economic implications of expanding existing affordable housing programs, review of subsidized housing programs, evaluation of required rent structures and assisted with policy legislation.

Asset and Negotiation Strategies

Portfolio Analysis - Real estate assets at a glance. Bolan Smart prepares asset data sheets and portfolio "roll ups" that summarize essential real estate statistics to facilitate management's decision making process. Organizing the requisite real estate data on a portfolio basis provides a comprehensive understanding of asset contributions and relative comparability to market benchmarks.

Solicitation Development and Proposal Evaluation - Bolan Smart can assist in many aspects of facilitating competitive development related solicitations. Specific services include preparing disposition documentation providing deal term summaries of the bidder submissions and ranking these proposals based on prioritized selection criteria helps our clients to expedite project award.

Negotiations and Deal Structuring - A vital part of Bolan Smart's umbrella of development related services is its active transaction advisory work. Bolan Smart’s day-to-day involvement in deal structuring ensures that all of its other planning and feasibility assignments anticipate the importance of implementation. BSA’s twenty plus years of experience in assisting with public sector dispositions and complicated partnership agreements are evidenced in its extensive advisory work for corporations, non-profits and government. The firm has been especially active in guiding the economic considerations pertaining to development agreements and ground leases, often incorporating user occupancy provisions.