Practice 05
Real Estate
Advisory on property held by a business or an investor, covering acquisition, disposition, financing, and how the real estate fits the larger plan.
Overview
Real estate is often the largest asset in a business sale and the least examined. Whether the property is owned or leased, and on what terms, can change both the value of the business and the financing available to a buyer.
We advise owners and investors on the property side of a decision, alongside the transaction and financing work. This practice is advisory. It does not include real estate brokerage.
What the work covers
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Property in a business sale
Whether to sell the property with the business, keep it and lease it to the buyer, or separate the two.
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Acquisitions
Evaluating a property against its price, its financing, and its intended use.
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Dispositions
Timing, structure, and preparation for a sale, including the tax questions to raise early with your accountant.
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Lease terms
The business terms of a commercial lease, such as rent, term, renewal options, and assignment, and what a buyer or lender will expect to see.
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Financing
Purchase and refinance debt, arranged through our capital practice.
Who we work with
- Business owners whose company occupies its own property
- Investors acquiring or repositioning commercial property
- Families and estates holding real estate they did not choose to manage
Process
How an engagement runs
- 01
Understand the asset
Title, leases, condition, and current use.
- 02
Frame the options
Hold, sell, lease, refinance, or restructure, with the trade-offs of each.
- 03
Execute
We coordinate appraisers, lenders, attorneys, and the other side.
- 04
Close
Through the closing and the transition that follows.
Common questions
Should I sell the real estate with my business?
It depends on the buyer’s financing, your tax position, and whether you want ongoing rental income. Keeping the property and leasing it to the buyer is common and can widen the pool of buyers. We model both options before you decide.
What does a lender look for in owner-occupied commercial property?
The strength of the operating business’s cash flow, the appraised value of the property, the borrower’s equity, and occupancy by the business itself. For owner-occupied property, the performance of the business usually matters as much as the building.
Do you list properties for sale?
No. This practice is advisory and does not include listing or brokerage services.
Talk it through, in confidence.
Tell us briefly what you are working on. A principal reads every inquiry and replies personally.