Acquisitions
Acquisitions Underwriting for CRE Firms
We screen, underwrite and take acquisitions to investment committee for developers, investors and CRE firms, from first look through closing, so you move faster on the right deals.
Overview
Your Acquisitions Team, Without Adding Headcount
In acquisitions, speed and conviction win deals. Developers, investors and CRE firms bring us in when deal flow outpaces their team. Drawing on investment banking and real estate private equity experience, we work inside your process as an extension of your investment team: screening deal flow, building the underwriting, coordinating diligence and preparing investment committee materials on acquisitions from $5 million to more than $100 million. Our commercial real estate underwriting services cover deals in New York and nationwide, and every underwrite ties to an institutional real estate financial model.
The value we add
The Problem We Solve
In acquisitions, the firm that underwrites fastest and most accurately wins the deal. Most growing CRE firms have the deal flow but not the bandwidth: opportunities sit unreviewed, models get rushed, broker assumptions go untested and investment committee materials fall short of what lenders and investors expect. Each gap means a missed deal or a mispriced one. We close every one of them.
Deal Screening
Deal flow piles up faster than the team can review it, and good opportunities go to faster buyers.
Fast, defensible go or no-go reviews of basis, market, business plan and key risks, so your time goes only to deals worth pursuing.
Acquisition Underwriting
Models are rushed, inconsistent from deal to deal or built on broker assumptions that do not hold up.
Institutional models built from the rent roll, T-12 and market comparables, with sensitivity and downside cases on every deal.
Market and Competitor Analysis
Rent and sales comps come straight from the broker package instead of being tested against the submarket.
Independent rent and sales comparables, competitive sets and supply pipeline analysis that validate or challenge the business plan.
Due Diligence
Third-party reports, leases and operating data arrive late and are never reconciled back to the underwriting.
Diligence tracked against the model, with findings flagged and reflected in pricing before you are fully committed.
Investment Committee Materials
Partners, lenders and investors receive memos that bury the thesis and leave key risks unaddressed.
A clear thesis, risk framework and recommendation your partners, lenders and investors can act on.
Financing and Closing
Debt sizing and closing coordination pull the team away from the next deal.
Debt sizing, Capital Stack structuring and closing coordination, then a final model reconciliation and handoff to asset management.
The result: more deals reviewed, sharper pricing and investment committee materials your partners, lenders and investors trust, without building an in-house acquisitions team.
Scope
What an Engagement Includes
Every deal gets a full financial model, sensitivity and downside cases, and a clear recommendation.
Deal Screening
Fast go or no-go reviews of basis, market, business plan and key risks, so your time goes only to deals worth pursuing.
Acquisition Underwriting
Institutional models built from the rent roll, T-12 and market comparables, with sensitivity and downside testing.
Market and Submarket Research
Rent and sales comparables, supply pipeline and submarket analysis that support the business plan.
Due Diligence Coordination
Third-party reports, lease and operating reviews, and diligence findings tracked against the underwriting.
Investment Committee Memos
A clear thesis, risk framework and recommendation your partners, lenders and investors can act on.
Financing and Closing Support
Debt sizing, Capital Stack structuring and closing coordination, then a final model reconciliation and handoff.
Coverage
Asset Classes and Strategies
We underwrite acquisitions for developers, investors and CRE firms nationwide, across property types and risk profiles.
Asset classes8
- Multifamily
- Office
- Hospitality
- Retail
- Industrial
- Self-Storage
- Senior Housing
- Mixed-Use
Strategies4
- Core-Plus
- Value-Add
- Opportunistic
- Ground-Up Development
Our process
From First Look to Closing
- 01
Discovery Call
We learn your strategy, target markets and buy box, then agree on the deals and deliverables that matter most.
- 02
Screening
We review incoming deal flow against your criteria and return a fast, defensible go or no-go on each opportunity.
- 03
Underwriting and IC
We build the full underwriting model, coordinate diligence and prepare the investment committee memo for every deal you pursue.
- 04
Closing
We support financing and closing coordination, then reconcile the final model and hand it off for asset management.
In practice
Built for High Deal Volume
For one platform with more than $130 million of assets, we screen roughly ten opportunities a week and underwrite the ones worth pursuing.
Reina Property Group has become an essential extension of our acquisitions and finance efforts, and we view them as a true partner in scaling our platform.
Questions
Frequently Asked Questions
What problem does acquisitions underwriting support solve?
Growing CRE firms often have more deal flow than their team can review. Opportunities sit unscreened, models get rushed, broker assumptions go untested and investment committee materials fall short. We screen, underwrite, coordinate diligence and prepare investment committee memos as an extension of your investment team, so you move faster on the right deals and price them accurately.
Who do you work with?
We work with real estate developers, investors and CRE firms, from first-time fund managers to established platforms. Developers bring us in to underwrite sites and value-add acquisitions, and investors use us to pressure-test deals before committing capital.
What does an acquisitions underwriting engagement include?
Deal screening, a full underwriting model, market and comparable research, diligence coordination and investment committee materials, for developers, investors, first-time fund managers and established CRE firms alike.
Which asset classes and strategies do you underwrite?
Multifamily, office, hospitality, retail, industrial, self-storage, senior housing and mixed-use, across Core-Plus, Value-Add, Opportunistic and ground-up development strategies.
Can you keep up with high deal volume?
Yes. For one platform with more than $130 million of assets, we screen roughly ten opportunities a week and underwrite the ones worth pursuing, without the firm adding headcount.
How are acquisitions engagements structured?
You can engage us on a single deal, with scope and delivery agreed up front, or on an ongoing basis as an extension of your acquisitions team that scales with your deal flow.
How quickly can you start?
Most engagements are underway within 72 hours of signing. We work inside your existing models and systems, and turnaround is set around your bid and closing timeline.
Is our deal information kept confidential?
Yes. We are happy to sign an NDA before reviewing any materials, and we only share deal information with parties you approve.
Which markets do you cover?
We underwrite acquisitions for developers, investors and CRE firms across the United States, in primary, secondary and tertiary markets.
Contact
Start the Conversation About Your Next Deal
Tell us about the property, the business plan and the timeline. Our investment team will follow up to discuss how we can help and what the work involves.
- ConsultationBook a 15-minute call
- Emailchristian.reina@reinapg.com
- Office99 Wall Street, Suite 5570, New York, NY 10005