Challenge
A real estate management company negotiating the acquisition of a large property portfolio needed an independent assessment of space information to ensure accurate valuation and avoid overpayment. The portfolio spanned millions of square feet across geographically dispersed properties, with data that was not centrally managed or consistently updated, creating significant challenges for timely and accurate analysis.
After the acquisition, the company required verification of the remaining properties, including leasing reports and existing conditions, to support long-term management and resale plans. Ensuring accuracy under a tight timeline was critical to financial and operational success.
Solution
A real estate technology partner was engaged to evaluate the entire portfolio’s rentable square footage quickly and accurately. Using existing CAD files and construction documents, the team verified measurements according to industry-standard methods and recalculated space using BOMA ’96 standards.
Following the acquisition, the team conducted physical field verification of the remaining properties and provided comprehensive reports on leasing, space allocation, and existing conditions. All data was centralized in a secure platform for ongoing access and portfolio management.
Services Delivered
- Portfolio space verification and recalculation (BOMA ’96 standards)
- CAD and construction document review
- Physical field verification of properties
- Leasing and existing conditions reporting
- Centralized database implementation for portfolio management
Benefit
The engagement increased the portfolio’s rentable space by 6.18%, delivering immediate financial benefits and providing an ongoing source of accurate, centralized data. The client can now access real-time information on floor plans, space allocations, leases, vacancies, and usable and rentable square footage through a secure online platform, supporting both management and resale decisions.
