The last dollar is recovered at the asset level.

The strategy is built at the portfolio level.

VALUATION APPROACH

​

Institutional portfolios require a fundamentally different engagement model than single-asset appeals. Multi-state and multi-jurisdiction holdings demand coordinated strategy across assessment cycles, appeal deadlines, and jurisdictional methodologies that vary significantly from state to state. The tax exposure embedded in a sale-leaseback transaction, an acquisition, or a ground lease structure is rarely identified until the first assessment notice arrives, by which point the appeal window may already be closing.

​

For sale-leaseback transactions, the lease encumbrance argument, that a long-term lease affects the fee simple value of the real estate, is one of the most powerful and underutilized tools in the property tax appeal arsenal. CMBS and securitized assets carry additional complexity where lender requirements and servicer oversight intersect with the appeal strategy. PILOT agreements are audited against current asset economics to identify where owners are systematically overpaying as equipment depreciates and market conditions shift from the original negotiated terms.

OUR EXPERTISE

​Public REITs, private equity and fund portfolios, core and core-plus institutional owners, and national owner-occupiers with enterprise corporate real estate holdings across multiple states and asset classes. Every engagement is built around a custom local team of attorneys, accountants, and appraisers selected for the specific asset and jurisdiction, not assigned from a national roster. Investment-grade intelligence drawn from a foundation in acquisitions, development, capital markets, and leasing identifies value shifts and market dislocations that a tax-only practice will miss.

​

Tertiary and illiquid market specialists. Assets without comparable sales. Confidential second opinions for owners who have existing advisors and want an independent view of whether the last dollar is being recovered. Pre-acquisition tax exposure analysis and post-closing appeal strategy for buyers who need to understand the assessment reset risk embedded in a transaction before it closes. 100 percent contingent on tax savings. The alignment of interests is total.

.