Acquisition Due Diligence

Meridian works with clients to form an acquisition team that complements their internal staff. Our services are custom fit to a client’s needs and include financial analysis, lease and document review, financial statement auditing, and cash flow modeling.

Our Services Include: Informational database development, auditing of seller-provided financial information and cash flow analysis including a determination of the accuracy of financial projections, cash flow and valuations.  We also recommend pricing adjustments enabling the creation of an “acquisition spread”– reductions in pricing based upon seller provided information with realistic upside projections based upon operational and lease administrative efficiencies that a seller may not have maximized.  We pride ourselves on the ability to create instant equity. We also perform forensic review of property and lease documents, noting areas of risk such as tenant termination options, exclusive or restrictive uses, governmental ordinance or restrictions.

Cash Flow Modeling: Our firm has either audited or built hundreds of ARGUS financial models for retail, office and industrial assets or large portfolios.  No matter the exercise, Meridian will ensure all tenant information is accurately represented.  Supplemental analysis is also prepared to quantify any discrepancies and variances, as well as the calculation or more detailed waterfall analysis.

Outsourced Lease Administration

Meridian’s staff has abstracted more than 150,000 retail, office and industrial leases for our clients. Our experienced professionals understand the intricacies of leases and ensure that the data used in operations accurately reflects the terms of the leases. We help establish processes and procedures that streamline the lease administration function for our clients. Meridian is also the year end reconciliation "department" for many clients as well a resource to respond to tenant initiated lease audits.

Property Lease Audit & Review

Meridian’s lease audit programs are designed to ensure that the maximum potential cash flow available from a property’s lease document is realized by the owner, while identifying potential areas of exposure through a review of both financial and non-financial covenants of leases.  Meridian has developed  comprehensive lease audit programs for leading REITS, institutions and property management companies.  Rather than utilize their existing auditors or employ an internal staff, these firms have decided to outsource this important function with Meridian’s industry specialists.  Meridian’s custom designed program is tailored to address your specific areas of concern, resulting in a structured program that thoroughly discloses uncollected funds and ensures the information maintained in the property management system is accurate.

Meridian has completed approximately 2,500 retail, office and industrial lease audits for our clients.  With only one exception, each has resulted in historical recoveries in excess of our professional fee.  Prospective increases to property cash flow are also significantly increased.

Financial Modeling

Meridian works with owners, property managers, and brokers to help prepare a property for sale and ensure a smooth transaction.  In the past, our services have included preparation of lease abstracts, financial models, the provision of property information to potential buyers and the preparation of the closing statement.  Meridian helps to ensure that sellers are not leaving any dollars on the table.  In addition, Meridian, on behalf of the court or lender, will oversee and manage the reorganization, potential turnaround, or disposition of a property.