Advisory

701 E. Lake Street, Wayzata, MN

How we help

Every family's real estate has a story. Our work begins by learning it.

No two engagements look alike, because no two families, partnerships or properties are. What they share is a moment when a long-held property must be understood, and a decision made, by people who didn't sponsor the investment. We bring the perspective of someone who has valued, leased, managed, financed, developed and sold commercial real estate, as an advisor and as a principal with capital at risk.

Our vision:

To be the preferred commercial real estate consultancy in the Upper Midwest.

Willows Bend Senior Living Community, Fridley, MN

The situations we're called into

Estates and inheritance.

Assessing what the estate actually owns, what it's worth, what deadlines are approaching, and whether the property should be kept, refinanced or sold.

Partial and fractional interests.

Understanding a minority or non-controlling interest in a partnership or LLC: governance rights, buyout provisions, realistic value, and the paths to liquidity that the other partners will accept.

Partnership transitions.

Helping partners with differing goals find a structure that works, whether that means a buyout, a restructuring, a sale or a tax-deferred exchange.

Ground leases and legacy portfolios.

Reviewing long-held assets that may no longer fit today's market: aging ground leases, older retail, passively managed apartments, land whose original thesis never played out.

Land and development.

When a family holds a well-located site with real potential and no one to develop it, we evaluate the opportunity, assemble the team and lead the development on the family's behalf.

Building performance.

Energy benchmarking and building-performance requirements now affect the value of older buildings. We weigh them where they matter to a decision and pursue improvements when the economics work.

Estates and inheritance.

Assessing what the estate actually owns, what it's worth, what deadlines are approaching, and whether the property should be kept, refinanced or sold.

Partial and fractional interests.

Understanding a minority or non-controlling interest in a partnership or LLC: governance rights, buyout provisions, realistic value, and the paths to liquidity that the other partners will accept.

Partnership transitions.

Helping partners with differing goals find a structure that works, whether that means a buyout, a restructuring, a sale or a tax-deferred exchange.

Ground leases and legacy portfolios.

Reviewing long-held assets that may no longer fit today's market: aging ground leases, older retail, passively managed apartments, land whose original thesis never played out.

Land and development.

When a family holds a well-located site with real potential and no one to develop it, we evaluate the opportunity, assemble the team and lead the development on the family's behalf.

Building performance.

Energy benchmarking and building-performance requirements now affect the value of older buildings. We weigh them where they matter to a decision and pursue improvements when the economics work.

For attorneys, accountants and wealth advisors

Your client's real estate is often the most complicated and least liquid part of the plan, and the one few on the team are equipped to manage. We fill that seat. We read the operating agreements and loan documents, translate the property into options your client can weigh, coordinate with you throughout, and leave your relationship with the client exactly where it is.

For attorneys, accountants and wealth advisors

“I first met Paul when buying a retail center from him on behalf of my employer at the time. The transaction, between friends, had a number of moving parts and Paul navigated them with integrity and professionalism. During due diligence, I realized that his records were meticulous. Across the course of that deal, in the documents and in our interactions, it became clear to me that Paul was the rare creative thinker whose ability to see the big picture is complemented by a thorough attention to detail. Three years later, I consider Paul a friend and would add that, in addition to being a talented real estate developer, he is a truly kind person.”

Amanda T. Hawn - Falcon Ridge Partners, Minneapolis

Cedar Point Shopping Center, St. Louis Park, MN

How an engagement works

01. Initial consultation

An hourly engagement to understand the property, the problem and outcome the family seeks, ending in a written outline of the work we recommend.

02. Analysis and strategy

A monthly retainer for the deeper work: reviewing documents, interviewing partners, managers and family members, and developing a strategy everyone can agree on. Depending on complexity, this can take weeks or many months.

03. Execution

Where the strategy calls for action, we carry it out: negotiating with partners, managing a sale or acquisition, or leading a development. Where a transaction is involved, fees reflect its complexity and credit a portion of the retainer already paid.

Who we serve

Families and individual owners of commercial real estate, and their advisors

Single- and multi-family offices

Partnerships and closely held companies with real estate holdings

Bank trust officers evaluating trust-held property

Non-profit and corporate owners facing a property decision outside their core business