Case Studies
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Case Study: Highest and Best Market Reuse of Vacant Downtown Office Building
Real Estate Economics Office to Residential ConversionRCLCO calculated the residual land value of the various reuse scenarios to determine which path would result in the optimal economic outcome for the ownership group
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Case Study: Market Analysis and Development Recommendations for the Conversion of Office Space into Rental Apartments
Real Estate Economics Office to Residential ConversionAfter assessing the economic and demographic trends in the overall market, RCLCO turned to the competitive landscape, identifying other rental properties in the area that provided a useful comparison to the subject site to provide insight as to what th...
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Case Study: Supply & Demand Analysis for Conversion of Existing Office Buildings into Live/Work Residential
Real Estate Economics Office to Residential ConversionTo ground the analysis, RCLCO first examined the key drivers of rental housing demand in the market, the evolving impact of remote and hybrid work, as well as the long-term economic outlook.
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Case Study: Chief Executive Officer
Management Consulting Executive Search and RecruitingWith its CEO of 20 years retiring, the family-owned company needed a new leader who would fit in with its values-based approach to developing, owning, and managing apartments and retail hubs.
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Case Study: Evaluating Portfolio Performance & Assessing Organizational Capabilities
Portfolio Analysis/Optimization Management Consulting Portfolio Strategy Capital Strategy Organizational ConsultingDespite a strong track record of development, a family office’s recent projects suggested that the robust economic results may have been the result of market movement more so than value creation.
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Case Study: Designing a Thoughtful Organizational Transition
Management Consulting Organizational Consulting Strategy PlanningA multigenerational multifamily developer and operator with holdings concentrated in the mid-Atlantic was in the midst of a strategic shift: most importantly the company was expanding to a broader set of geographies and positioning the next generation ...
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Case Study: Building a National Organization Poised for Growth
Public Sector Management Consulting Organizational ConsultingRCLCO was retained to help diagnose the advantages and challenges associated with the company’s unique structure and design an organizational roadmap to support the company’s growth ambitions.
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Case Study: Developing a Plan to Enter a New Market
Management Consulting Portfolio Strategy Strategy Planning Geographic ExpansionOne of Britain’s largest investment managers had successfully developed a model of investing in large scale mixed-use developments within major urban centers throughout the UK in partnership with local government and private developers.
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Case Study: Implementing a Focused, Growth-oriented Geographic Strategy
Management Consulting Portfolio Strategy Strategy Planning Geographic ExpansionIn 2016, IRET (now Centerspace) pivoted from a multifaceted real estate company with a mix of commercial assets, to a single-purpose multifamily REIT.
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Case Study: Transitioning to Raising Third-party Equity
Management Consulting Capital Strategy Portfolio Strategy Strategy PlanningA diversified real estate investor and operator approached RCLCO to help it transition its capital structure away from deal-by-deal ventures.
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Case Study: Building a Best-in-class Asset Management Infrastructure
Management Consulting Organizational Consulting Strategy PlanningRCLCO was retained to conduct corporate strategic planning for a private family-owned real estate holding company that had recently undergone significant leadership transition.
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Case Study: Understanding Residents and Creating Real-time Insights
Management Consulting Consumer Insight Operational StrategyAn expanding multifamily owner and operator was interested in better understanding the composition of their renter base in order to inform property operations and guide future investment decisions.
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Case Study: Post-merger Support for National REIT
Single-Family Rentals Management Consulting Capital Strategy Organizational Consulting Consumer Insight Operational StrategyFollowing a large-scale acquisition, a national residential REIT ($10B+ market cap), approached RCLCO to identify opportunities to optimize the corporate cost structure while growing ancillary revenues and launching tactical initiatives to deepen custo...
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Case Study: Building a Rationalized Real Estate Process
Public Sector Management Consulting Organizational Consulting Strategy Planning Operational StrategyA municipality with land-holdings totaling 10 square miles in one of the nation’s densest and fastest growing metropolitan areas engaged RCLCO to improve its real estate management processes and rationalize a complex organizational structure stretchi...
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Case Study: Optimizing a Vertically Integrated Organizational Structure
Management Consulting Organizational Consulting Strategy PlanningA vertically integrated REIT engaged RCLCO to conduct an organizational assessment of its construction division and determine how to optimize the department’s role within the organization.
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Case Study: Executive Recruiting for a Senior Vice President of Residential Product Innovation
Management Consulting Executive Search and RecruitingIn an effort to make districts in Silicon Valley highly innovative, we recruited a senior team member to lead product innovation across the developments.
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Case Study: Executive Recruiting for a President of Property Management
Management Consulting Executive Search and RecruitingWe were tasked with hiring a President at a rapidly growing, national owner of affordable housing to run a new property management vertical.
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Case Study: Resort Residential Market Analysis for Kukui`Ula Master-Planned Community
Real Estate Economics Second Home / Vacation HomeIn late 2021, the partially developed Kukui’ula master-planned community was sold to Brue Baukol Capital Partners for $183.5M, and RCLCO’s market study was used as support for the transaction. To date, about 280 house lots have been sold, and about...
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Case Study: Steamboat Springs Resort Employee Housing Needs Assessment
Real Estate Economics Second Home / Vacation HomeUsing RCLCO’s analysis, Steamboat Ski & Resort Corporation was able to thoughtfully anticipate the resort’s future workforce housing needs that would result from the increased visitor capacity.
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Case Study: Consumer Research Regarding Architectural Preferences for Home Shoppers Ages 55+
Consumer InsightA Residential Developer specializing in active adult communities was interested in attaining product intel that would help them optimize the marketability of its next generation of products. To do so, they desired a third-party analysis of their target...
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Case Study: Market & Submarket Opportunity Analysis for Real Estate Operating and Development Company
Real Estate Economics Geographic ExpansionRCLCO was chosen by a Real Estate Operating and Development Company to determine expansion potential and help with specific future development opportunities.
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Case Study: Geographic Expansion Analysis for Residential Developer
Real Estate Economics Geographic ExpansionA Residential Developer engaged RCLCO to assist in evaluating market expansion opportunities beyond their high-cost, East Coast metropolitan area.
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Case Study: Preliminary Market Assessment for Build-for-Rent Community
Real Estate Economics Single-Family RentalsRCLCO focused its efforts on Willow Creek Manors, a planned 148-unit higher-density single-family detached rental development in Tomball, Texas.
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Case Study: Achievable Rent Analysis for Build-for-Rent, Single-Family Home Community
Real Estate Economics Development Feasibility Single-Family RentalsIn this engagement, NexMetro was seeking to develop a new Avilla lifestyle community in Grand Prairie, Texas, situated in the middle of the Dallas-Fort Worth metroplex. In evaluating the development potential of this new community, NexMetro retained RC...
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Case Study: Retail Repositioning for NewMark Merrill Companies
Real Estate Economics Development Feasibility Retail Value-Add & RepositioningNewMark Merrill Companies, Inc. (“NewMark”) was considering redevelopment and repositioning opportunities, including a retail center in their portfolio. The company engaged RCLCO to help determine whether the center would be appropriate to redevelo...
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Case Study: Strategic Market Analysis for Electric Works
Competitive-Edge Strategies Development Feasibility Fiscal & Economic Impact Public-Private Partnership Value-Add & RepositioningRTM engaged RCLCO to provide a quantitative, fact-driven assessment of the market opportunity given the large scale of the site, location just removed from the current activity hub, and adaptive reuse nature of the project.
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Case Study: University Trust Land Assessment for Arizona Board of Regents
Real Estate Economics Anchor Institution Support Portfolio Analysis/OptimizationABOR engaged RCLCO to update an analysis done in 1996 for ASLD, which had identified 37 parcels that were ready or capable of development with significant revenue production at that time.
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Case Study: Strategic Market Analysis for Purdue Discovery Park District
Real Estate Economics Anchor Institution Support Development Feasibility Multifamily RetailOld Town Companies retained RCLCO to conduct a quantitative market analysis for the residential uses, which are envisioned in a Traditional Neighborhood Development (“TND”) format.
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Case Study: Strategic Development Direction for Anaheim Stadium District
Real Estate Economics Acquisition Underwriting Fiscal & Economic Impact Sports District DevelopmentAngels Baseball and Brooks Street, the team’s real estate advisor and development partner, engaged RCLCO to provide consulting services in support of their attempt to purchase Angel Stadium, along with the surface parking lots surrounding the stadium...
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Case Study: Economic Development for Point of the Mountain State Land Authority
Real Estate Economics Financial Modeling & Optimization Analysis Partner Selection Public SectorRCLCO began its work focused on the Point’s two greatest challenges: how to achieve the state’s economic development goals with development on site, and what role POMSLA ought to play in future real estate development.
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Case Study: Structuring a Strategic Acquisition on Behalf of an Institutional Investor
Investment StrategyOn behalf of an institutional investor client, RCLCO sourced an “off-market” opportunity to recapitalize a best-in-class national apartment developer and operator. The transaction represents a significant strategic step forward for our client, esta...
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Case Study: Investment Strategy for a U.S. Public Pension Fund
Investment StrategyOur work with a U.S. Public Pension Fund (“Fund”) illustrates our ability to apply an evidence-based, strategic approach that is grounded in an understanding of project-level economics to reorient a public pension fund’s real estate portfolio on ...
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Case Study: Rental Apartment Development During the COVID-19 Pandemic
Real Estate Economics Development Feasibility MultifamilyRCLCO updated the forecasts in our initial study 60 days after the initial report was delivered to take into account all of the latest information and the latest outlook from the COVID-19 Downturn.
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Case Study: Land Redevelopment and Project Implementation of Connor’s Creek Power Plant
Real Estate Economics Acquisition Underwriting Financial Modeling & Optimization Analysis Partner SelectionRCLCO worked with DTE to develop a collective point of view on the level of market support, the achievable character, and the scale of development the site can support, as well as a framework for discussing the risk that might be accepted by the develo...
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Case Study: Business Planning & Strategy for Double Bottom-Line Investing
Management Consulting Strategy PlanningWorking closely with senior management and the client’s strategy team, RCLCO provided business planning services and evaluated the viability of funding an economically viable social impact strategy.
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Case Study: Strategic Planning Services & Asset Management Standardization
Management Consulting Portfolio Strategy Capital StrategyRCLCO was retained to conduct corporate strategic planning for a private family-owned real estate holding company that had recently undergone significant leadership transition.
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Case Study: Performance Audit & Real Estate Management Assessment
Management Consulting Portfolio StrategyRCLCO was retained to evaluate the performance of the real estate division of a large family office, which worked with RCLCO to identify core competencies and performance gaps for key real estate functions.
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Case Study: Palmetto Bluff Strategic Development & Segmentation Strategy
Real Estate Economics Competitive-Edge Strategies Development FeasibilityRCLCO was retained by Crescent Communities to provide strategic recommendations and a detailed segmentation strategy for the master-planned community of Palmetto Bluff in Bluffton, South Carolina. At the time the community, like the industry overall, w...
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Case Study: Market Opportunity Analysis for Sacramento City Center
Real Estate Economics Competitive-Edge Strategies Development Feasibility Retail Sports District DevelopmentWith the Sacramento Kings poised to build a new arena in Downtown Sacramento, the time was ripe for land owners around the planned stadium to explore changes in market conditions driving development from the improvements that the arena would catalyze.
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Case Study: Re-Use Plan and Real Estate Strategy for Landmark Mall
Real Estate Economics Partner Selection Retail Value-Add & RepositioningLandmark was a mid-1960, 675,000 square foot regional shopping center with Macy’s (originally Hechts), Sears and Lord & Taylor (originally Woodward & Lathrop) anchors. Originally an open air center, it was enclosed in the 1990s to improve its competi...
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Case Study: Downtown Revitalization and Masterplan for Tropicana Field
Real Estate Economics Development Feasibility Public-Private Partnership Sports District DevelopmentRCLCO, as part of a vision planning team led by HKS Architects, was selected by the City of St. Petersburg, Florida to provide master planning services for the Tropicana Field site in Downtown St. Petersburg, currently home to the Tampa Bay Rays.
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Case Study: Economic Development and Neighborhood Revitalization Analysis for the Lafitte Corridor Greenway
Real Estate Economics Fiscal & Economic Impact Public Sector Public-Private PartnershipAs one of New Orleans’ signature revitalization projects in the wake of the devastation of Hurricane Katrina, the Lafitte Greenway was set to transform a former shipping canal and railroad right-of-way running through the heart of the city into a vib...
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Case Study: Financial Analysis and Transaction Strategy for Centennial Campus North Carolina State University
Real Estate Economics Anchor Institution Support Development Feasibility Financial Modeling & Optimization AnalysisThe Centennial Campus of North Carolina State University is a highly successful model of integrated research and academic facilities. The University administration retained RCLCO to help improve the park’s competitiveness and we recommended exploring...
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Case Study: Residential & Commercial Development Strategy for the Sienna Plantation MPC
Real Estate Economics Competitive-Edge Strategies Development FeasibilityRCLCO was engaged by Toll Brothers to evaluate the remaining 3,700 acres of Siena Plantation, an established master-planned community in Fort Bend County, Texas, a suburb of Houston.
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Case Study: Competitive Advantages & Outlook for D.C. Submarket
Real Estate Economics Competitive-Edge Strategies Development Feasibility MultifamilyLCOR, a national real estate development, investment, operations, and asset-management company, was planning the development of a rental apartment community in the then pioneering new neighborhood called the Union Market District of Washington, D.C
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Case Study: A History of Providing Analyses & Strategy Recommendations for Lakewood Ranch
Real Estate Economics Competitive-Edge Strategies Development Feasibility Financial Modeling & Optimization AnalysisThe 8,500 acre Lakewood Ranch, part of the 28,000 acre Shroeder-Manatee Ranch, is one of the top selling master planned communities in the U.S. It is home to nearly 12,000 households and over 15,000 employees working at over 1,385 businesses. It is bei...
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Case Study: Residential Market Analysis for Hercules Bayfront Mixed-Use Development
Real Estate Economics Competitive-Edge Strategies Development Feasibility MultifamilyTraditional mixed-use neighborhoods and integrated transit located along the waterfront in Hercules, California is the foundation of Hercules Bayfront. Hercules is centrally located in the San Francisco Bay Area along the I-80 corridor and is within mi...
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Case Study: Economic Development Market Analysis for Sandy Steps
Real Estate Economics Competitive-Edge Strategies Development Feasibility Public SectorSandy, Utah is an urbanizing suburb of Salt Lake City located about 15 miles south of downtown along the I-15 freeway. The city of approximately 90,000 is located with the Wasatch region’s desired corridor and grew rapidly as a “bedroom” communit...
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Case Study: Economic Impact Analysis and Metropolitan Growth Strategy for the Atlanta Beltline
Real Estate Economics Fiscal & Economic Impact Public SectorDuring the past 20 years, metropolitan Atlanta’s growth has occurred in widely spread and disconnected pockets of development which have strained the region’s quality of life and economic growth
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Case Study: Capitol Riverfront Business Improvement District
Real Estate Economics Fiscal & Economic Impact Public Sector RetailThe Capitol Riverfront BID is well-situated in a downtown adjacent, Metro-accessible location, without the constraints of being built out on an FAR and zoning basis. However, in the District of Columbia, investment in locations along the Green Line—i...
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Case Study: Strategic Planning Services for Kettler, Inc.
Management Consulting Organizational Consulting Strategy PlanningRCLCO was retained to conduct corporate strategic planning at the holding company level, and then proceeded to conduct strategy plans for the two main operating divisions of the company, including the multifamily development company and the residential...
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Case Study: Strategic Planning Services for Investors Real Estate Trust
Management Consulting Organizational Consulting Strategy PlanningIn 2016, IRET made the decision to pivot from a multifaceted real estate company with a mix of rental apartments, senior housing, medical office and other commercial assets, to a single-purpose multifamily REIT focused on the upper Midwestern markets. ...
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Case Study: Transwestern Corporate Strategy
Management Consulting Portfolio Strategy Organizational Consulting Strategy PlanningFounded in 1978, Transwestern Property Company developed 5 million square feet of space in more than 35 institutional-quality office and industrial projects in Houston, Dallas, Austin and San Antonio until the real estate market collapsed in the mid '8...
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Case Study: Expert Witness Regarding Tousa, Inc., Bankruptcy
Legal SupportRCLCO actively provides consulting and litigation support services regarding real estate issues, including serving as expert witnesses as required. One very prominent case for which RCLCO provided extensive litigation support and expert testimony was...
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Case Study: Expert Testimony Regarding Bankruptcy Reorganization Plan
Legal SupportRCLCO was retained by a custodian of bankruptcy trust to opine on the validity of a bankruptcy reorganization plan. The case involved a large regional community land development and homebuilding enterprise that slipped into bankruptcy as a result of ...
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Case Study: Implementation of an Asset Management System That Reduced Errors & Increased Analysis Capabilities
Asset ManagementInstitutional investors are always seeking to achieve their required rate of returns within their set risk appetite by analyzing their portfolio utilizing actionable information.
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Case Study: Asset Management for a U.S. Public Pension Fund
Asset ManagementRCLCO reoriented the real estate portfolio on a path toward real growth and income generation.
