Case Studies
Real-world results that demonstrate how we help sponsors raise capital, optimize models, and execute with institutional quality. All of our engagements exceed client expectations, signal institutional precision, and are done at speed without compromising quality.
Model Development and Package Submission for Mixed-Use Affordable Housing Project
Client Profile
Civic Association
Client Objective
Develop a comprehensive financial model and submission package to assess the feasibility of a mixed-use affordable housing project and support the client's application to the governing body for project approval and funding consideration.
RPG Deliverable
Reina Property Group prepared a fully integrated financial model projecting development costs, operating revenues, stabilized returns, and affordability thresholds. The submission package included detailed underwriting assumptions, sensitivity analyses, and market comparables to substantiate the proposed project economics. RPG’s work provided a data-driven foundation for the client’s application, strengthening their positioning with the governing body and facilitating informed decision-making regarding project viability and community impact.
Financial Model Development for Motel-to-Multifamily Conversion
Client Profile
Family Office
Client Objective
Prepare a detailed financial model and investment analysis to support the client’s efforts to raise external capital for the conversion of a motel asset into multifamily housing.
RPG Deliverable
Reina Property Group prepared a detailed financial model to assess the viability of converting a hospitality asset into multifamily housing. The model included fully integrated projections of revenues, costs, and stabilized cash flows, supported by scenario-driven sensitivity analyses to evaluate a range of underwriting assumptions. RPG also incorporated market research on occupancy trends and rental rate forecasts to inform operating assumptions and projected investment returns. The deliverable provided stakeholders with a robust analysis of the conversion’s financial implications, facilitating data-driven decision-making and enhancing the client’s positioning in lender negotiations. The property was successfully developed and is now in the stabilization process.
Market Analysis for Luxury Hotel Development Opportunity in Emerging Market
Client Profile
Private Syndication
Client Objective
Our client controls a strategically located parcel in an emerging market experiencing strong tourism-driven growth. The proposed development is an ultra-luxury boutique hotel targeting ultra-high-net-worth individuals (UHNWIs), with projected average daily rates (ADRs) exceeding $20,000 per night. The project is positioned to capitalize on accelerating global demand for exclusive, experience-driven hospitality offerings.
RPG Deliverable
Reina Property Group completed a full loan underwriting and investment analysis, incorporating detailed assessments of property-level cash flows, market comparables, borrower financial strength, and loan risk parameters. RPG provided recommended loan terms and structures aligned with lender underwriting standards and prepared standardized loan documentation and a loan summary highlighting key risk factors and mitigants. All findings and recommendations were synthesized into a professionally designed investor presentation, enhancing the client's ability to evaluate and market the opportunity to capital partners with clarity and confidence.
Advanced Financial Model for Self-Storage Development Opportunity
Client Profile
Real Estate Private Equity Fund
Client Objective
Develop a highly detailed development and operating model for analyzing self-storage projects, with a particular focus on street rate, web rate, and achieved rate performance, as well as stress-testing the property's ability to meet debt service obligations following construction loan amortization and refinancing events.
RPG Deliverable
Reina Property Group constructed a fully integrated self-storage development model incorporating detailed lease-up assumptions, dynamic rent stratification (street, web, and achieved rates), and robust sensitivity analyses tied to debt service coverage thresholds. The model was designed to track projected DSCR levels across multiple capital events, including construction loan amortization periods and anticipated refinancing milestones. Scenario-driven outputs enabled the client to evaluate property performance under varying rental rate and absorption conditions. RPG’s deliverable provided a lender-aligned, institutional-grade underwriting framework, equipping the client with a highly analytical basis for investment decision-making and capital structuring.
Underwriting and Highest-and-Best-Use Analysis for Office Asset Acquisition in Historic District
Client Profile
Real Estate Development Firm
Client Objective
Our client was presented with an off-market opportunity to acquire an underperforming office property. They engaged us to evaluate whether the asset’s highest and best use would be as renovated office space, residential rental units, or luxury condominiums.
RPG Deliverable
Reina Property Group prepared a detailed financial model to assess the viability of converting a hospitality asset into multifamily housing. The model included fully integrated projections of revenues, costs, and stabilized cash flows, supported by scenario-driven sensitivity analyses to evaluate a range of underwriting assumptions. RPG also incorporated market research on occupancy trends and rental rate forecasts to inform operating assumptions and projected investment returns. The deliverable provided stakeholders with a robust analysis of the conversion’s financial implications, facilitating data-driven decision-making and enhancing the client’s positioning in lender negotiations. Following RPG’s recommendation, the property was acquired and is currently in the preliminary stages of being redeveloped into luxury condominiums.
Bespoke Mixed-Use Development Model to Streamline Internal Underwriting Process
Client Profile
Real Estate Development Firm
Client Objective
A well-established real estate developer engaged RPG to create a bespoke financial model to streamline internal underwriting process and showcase to capital providers.
RPG Deliverable
RPG developed a fully integrated financial model designed to streamline the client’s internal underwriting process for ground-up multifamily developments. The model incorporated dynamic inputs for development costs, lease-up schedules, stabilization timelines, and refinancing scenarios, allowing stakeholders to flex key assumptions and quickly evaluate multiple investment strategies. Built to institutional standards, the model provided a transparent, decision-ready framework to support capital raising efforts and enhance the client's ability to respond to investor and lender due diligence requirements.
Business Overview and Executive Summary to Secure Business Financing
Client Profile
Land Investment Firm
Client Objective
Develop a comprehensive business and financial overview to present to lenders in support of securing business financing for acquisitions.
RPG Deliverable
RPG performed an in-depth assessment of the client’s operations, management expertise, and unique market positioning to craft a compelling financing narrative. Through a detailed analysis of the client’s strategic strengths, business objectives, and market differentiators, RPG produced a persuasive presentation designed to resonate with lender underwriting criteria. The final deliverable not only addressed potential risk considerations but also reinforced the client’s credibility and competitive positioning within the land acquisition sector, enhancing their ability to secure favorable financing terms.
Underwriting and Offering Memorandum to Secure Bridge Financing for Value-Add Self-Storage Asset
Client Profile
Commercial Real Estate Loan Origination Firm
Client Objective
Obtain a fully underwritten investment analysis and offering memorandum to facilitate bridge financing consideration for the acquisition and repositioning of a value-add self-storage opportunity.
RPG Deliverable
RPG completed a detailed underwriting analysis incorporating fully integrated cash flow projections, market comparables, borrower credit evaluations, and loan sizing metrics aligned with bridge lending standards. RPG formulated recommended loan terms and structures based on borrower business plan execution risk, market fundamentals, and asset repositioning assumptions. All findings were synthesized into an institutional-grade offering memorandum highlighting key underwriting metrics, risk mitigants, and business plan milestones, enabling the client to present a compelling, data-driven opportunity to prospective capital partners with precision and confidence.