Comprehensive Commercial Real Estate Services – The NREV Difference
Good property management increases sustainable net operating income (NOI). This begins with budgeting, accounting, variance analysis and accurate cash projections — a process led by NREV’s chief financial officer Linda Ermatinger. Maintaining comprehensive insurance, clear title and legal compliance are essential. Quality property management always enhances operating receipts. NREV focuses on keeping accurate lease information, rigorous collection procedures, accurate and timely CAM reconciliations, tight cost controls and effective tenant coordination/construction management.
Commercial receivers should protect, stabilize and add value to properties which are in foreclosure. Monroe’s unique skills qualify him to lead a commercial turnaround. As Vice Chair of the Florida Bar’s Receivership Subcommittee, Monroe understands and has successfully applied receivership tools. On May 2, Monroe will participate in Miami on an expert Florida Bar panel conference on receiverships.
Monroe has procured over 400 leases. An expert at attracting quality credit tenants, he increases long term sustainable NOI. Brokers should engage in detailed lease preparation, understand and explain key lease provisions to owners, provide them with data spreadsheets supporting the numbers in the lease, prepare lease abstracts (prior to lease execution) and obtain comprehensive lease applications with credit support. After lease execution, a quality broker should aid in tenant coordination. Much of a broker’s value is added before and after a lease is signed. Monroe describes one of his most important credit lease transactions as bringing a 50,000 sq. ft. high fashion chain, Jacobson’s, to Northwood Plaza in Clearwater, Florida.
Monroe has sold $750 million of commercial properties ranging from shopping centers and offices to assisted living facilities, mobile home parks, single credit tenants, and ground leases throughout the southeast-focusing on the Florida market. He believes that sales brokers must engage in document preparation, assembling all information necessary for closing (due diligence) and be expert in current marketing techniques. Monroe assumes responsibility for working out the “tough” real estate problems prior to closing, such as environmental or title issues. As an attorney, his skills have saved deals by swift drafting, and expedited resolution of legal issues, saving time and legal costs.
Carried Interest Participation
Monroe believes that carried interest arrangements often benefit the asset manager and the investor—where an asset manager, as an incentive, is given a modest fee and a portion of the upside. Monroe has written articles on the importance of carried interest structures.
Consulting Services (including expert testimony)
Monroe has managed consulting assignments, from development strategy and commercial workouts to environmental remediation. He has obtained many “no further action” and compliance letters. His government experience has facilitated resolution of compliance issues. He has been a successful expert witness.