Brokerage Services

Landlord Representation
Tenant Representation		 Investment Property Sales
Debt Placement

Landlord Representation

Leasing

LORICO provides coordinated landlord leasing services for client property or portfolio that leverage local market intelligence and established relationships to achieve maximum occupancy levels for client properties and to quickly secure tenants to fill vacant space. LORICO provides market exposure for a subject property, builds the landlord’s image, and creates a leasing strategy that attracts and retains quality tenants. LORICO develops an individual asset plan, which plan details strategies to attract, retain, and meet the needs of tenants.

Landlord representation services include:

  • Offer solicitation and review
  • Property positioning and marketing
  • Initiation of tenant negotiations
  • Document preparation and distribution
  • Contract negotiation and execution
  • Supervision of attorneys

Lease Restructuring

LORICO provides lease restructuring services for landlords, providing opportunities to enhance property value. Lease restructures are often included as part of rent review negotiations but can often result from a proactive proposal by either party to a lease. Common lease restructuring opportunities include:

  • Lease extensions/reversionary leases
  • Varying the demise
  • Exercising/removing break options
  • Changing the frequency of rental payments
  • Capping/controlling the service charge
  • Variations to existing alienation provisions
  • Revising other landlords/tenants covenants
  • Rectifying errors in wording or formulas

Tenant Representation

Leasing

LORICO helps tenants meet their objectives in various national markets and locations. LORICO analyzes each tenant’s business objectives and matches these goals with the optimal real estate solution. The scope of services for relocations, consolidations, subleases, acquisitions, and dispositions include strategic planning, demographic and site consulting, comparative financial analysis, construction, and post-occupancy services. Tenant representation services further include:

  • Initiation of landlord negotiations
  • Property positioning and marketing
  • Document preparation and distribution
  • Offer solicitation and review
  • Contract negotiation and execution

Lease Restructuring

LORICO provides lease restructuring services for tenants, providing opportunities to reduce the tenants operating costs. LORICO, on tenant’s behalf, will seek to identify opportunities to:

  • Reduce base rent and additional rent obligations
  • Obtain a rent free period
  • Secure certainty on future rent reviews
  • Amend break option clauses
  • Remove restrictive user, exclusive, and alienation clauses
  • Improve other tenant obligations such as service charge contributions
  • Procure fixed rate renewal and extension options
  • Cap/control service changes and rental escalations
  • Amend assignment and subleasing clauses

Sale-Leaseback Financing

LORICO is particularly skilled in negotiating, planning and closing sale-leaseback transactions as an alternative to mortgage financing, offering professional assistance based upon clients objectives. Many types of property may be financed by sale-leaseback arrangements such as commercial buildings, retail buildings, corporate offices and headquarter buildings, research and development facilities, industrial warehouses and manufacturing plants. A sale-leaseback transaction is a capital management tool that allows clients to use and control essential real estate without employing vast sums of debt and equity capital in an illiquid asset class.

LORICO assists its clients in recognizing the balance sheet benefits of a sale-leaseback transaction to:

  • Unlock capital trapped in under-performing real estate
  • Release cash that is tied up in real estate which can be deployed elsewhere for growth, RandD, expansion and acquisitions
  • Maintain operational control of the property while not owning it
  • Eliminate existing long term mortgage debt, thus improving the balance sheet
  • Access to more cash than through a mortgage (100% LTV vs. 60%-70%)
  • Provide longer-term capital (15-25 years) than is available from traditional debt sources
  • Come at a cost comparable to debt financing and substantially less than the weighted average cost of capital
  • Result in off-balance sheet treatment for generally accepted accounting principles (GAAP) purposes

Investment Property Sales

LORICO has vast experience in the acquisition and disposition of retail, office, industrial, land, multi-family and mixed-use properties, as well as 1031 tax deferred exchange transactions. LORICO delivers investment opportunities for its clients’ consideration by LORICO’s clients, or markets properties to a targeted audience of qualified purchasers.

LORICO formulates and executes real estate transactions that achieve specific cash flow and financial statement objectives, promote efficient use of capital and credit resources, and mitigate tax burdens for LORICO’s clients.

LORICO’s acquisition services include:

  • Acquisition strategy and business plan
  • Property review and valuation
  • Acquisition brokerage
  • Due diligence review and settlement
  • Contract negotiation and execution
  • Third party report management and analysis
  • Memorandum preparation and distribution
  • Sales/acquisition process management
  • Land owner development advisory services
  • LORICO’s disposition services include:
  • Property evaluation
  • Disposition strategy and business plan
  • Disposition brokerage
  • Land owner development advisory services
  • Sale marketing package and management
  • Contract negotiations and closing management

Debt Placement

LORICO maintains senior level relationships with capital sources in connection with transactions of all sizes. LORICO has vast structured finance and capital markets experience to provide hand-crafted solutions, executable advice, and reliable financial counsel to successfully execute acquisition financing, refinancing, mezzanine and preferred equity financing, bridge loans, construction loans, and structured financings.

LORICO’s financing capabilities encompass all major real estate asset types including office, hospitality, retail, and multi-family properties. LORICO develops creative structuring alternatives to conventional loans and drives lenders to provide aggressive leverage levels, spreads, and structures that result in favorable loan pricing, terms, and options to LORICO’s clients.

LORICO provides debt placement services in connection with:

  • Permanent financing
  • Acquisition financing
  • Fixed or adjustable rate notes
  • Construction loans
  • Credit tenant bond lease loans
  • Mezzanine financing
  • Bridge loans
  • Forward commitments
  • Participating debt
  • Convertible debt
  • Sale/Leaseback transactions
  • Equity placement
  • Joint ventures
  • Tenant-in-common transactions