Marcum's Real Estate Team has demonstrated experience involving trouble residential and commercial real estate assets and failed construction projects of large high-rise condominium projects. Our experience includes every phase of real estate activity: from due diligence and underwriting to property disposition.
During their careers, members of Marcum's real estate team have directed the evaluation, structure, development, management and disposition of thousands of real estate-related assets. They have also directed the build-out of both residential and commercial projects, managed portfolios of non-performing loans, created public-purpose tax districts and participated in the development of historic and municipal real estate projects. They speak the language and understand the issues facing developers, investors and financial institutions.
Marcum's Real Estate Team can efficiently and effectively address construction deficiencies and weak markets for disposition of real estate assets. We have been involved with office, recreational and industrial real estate investments, including asset management and disposition. Additional, we have worked with a wide variety of healthy and troubled residential and commercial real estate, including master-planned, single-family homes and high-rise condominium projects. Our professionals have serviced the needs of hundreds of clients involved in the real estate industry, including:
Real estate investors and developers with more than $2.5 billion in real estate project throughout Florida
Property owners and management companies
Partnerships designed to own real estate
Commercial and residential real estate brokers
Asset Management for Real Estate Assets
Our Real Estate Team manages and sells commercial real estate under business plans that use a 'hands on' approach and asset management best practices to preserve property value and market the asset for ultimate sale at the highest net present recovery value. When needed, Advisory's Real Estate Team will inspect and secure the real estate assets. Individual budgets will be established to fund asset maintenance and other carrying costs, including mortgage payments, taxes, and insurance until the property is sold. The assets will be professionally marketed for sale by one or more third party brokers, selected under qualitative and cost based competitive process. Broker activities are monitored by Advisory's Real Estate Team to ensure that the respective broker is aggressively and creatively marketing the asset according to the pre-approved marketing plan and budget. Purchase offers will be tracked, reviewed and responded to quickly. Acceptable sales offers will be presented to the investors, as appropriate. Once the offer is approved, the Real Estate Team will work closely with the buyer, the seller, and counsel to expedite the closing through daily management of the closing process.
From concept to completion, the real estate team at Marcum can provide valuable advisory services during each phase of the project development cycle. Here is what we offer:
Phase I: Concept/Design/Analysis
As developers and property owners plan commercial, residential and mixed-use projects, Marcum is regularly called upon to prepare financial models and highest- and best-use analyses, while devising tax-efficient structures. Our deep contacts in the architectural, engineering, construction, insurance and marketing disciplines also allow us to provide valuable input as developers assemble their projects. Possessing a team that includes former developers, asset managers and financiers, Marcum can add the edge required to make your project a success.
Phase II: Capital Formation
Marcum's real estate team prides itself in maintaining dozens of institutional and private equity relationships, including Wall Street investment banks, insurance companies, commercial banks, private investors and private equity entities. Through these relationships, Marcum acts as a financial advisor in arranging long-term commercial real estate loans, construction loans, mezzanine loans and project equity. The Marcum real estate team keeps abreast of both local and national market changes and yield requirements of lenders.
Phase III: Construction
In addition to providing oversight and general contractor administration during the execution of construction projects, Marcum is often engaged to manage the construction bid process. Marcum can assist the developer in minimizing the risks attendant to the construction process.
Phase IV: Hold/Sell/Exchange Analyses
As real estate owners are confronted with the age-old challenge of whether to hold, sell or exchange their properties, Marcum can provide strategic advice regarding value, market conditions and the tax implications of the transactional process. Our real estate tax professionals have experience in like-kind exchanges, involuntary conversions, capital gains analyses, tax planning, cost-segregation studies and much more.
Phase V: Asset Management & Financial Reporting
As asset managers for both individual and portfolio property owners, Marcum's real estate team identifies property limitations, changing market conditions and repositioning opportunities-all in the interest of improving property performance and attendant value. The team gained much of its experience from serving financial institutions burdened with non-performing loans as well as federal regulatory agencies, including the FDIC. The Marcum real estate team can also handle all of your financial statement and tax compliance reporting needs.
Phase VI: Tax Planning Services
A significant part of our international tax planning practice is focused on foreign investments in U.S. real estate. Marcum represents a wide array of clients ranging from first-time individual investors to multi-national corporations with hundreds of millions of dollars in investments. We help foreign clients identify the entity structure that fits the tax profile of the business and its owners. During the ownership phase, we provide tax planning and tax preparation services. At the time of sale, we focus on minimizing the tax impact of the sale and enhancing the after-tax cash flow to the business owners.