Advisory Services
A unique aspect of the Jackson Cross service platform is the Advisory Services Group that employs a team of attorneys, paralegals, law students and experienced property administrators. The team is comprised of full time staff and independent contractors that allow for scalability for large, fast turnaround projects. Over the past seven years the JCP Advisory Group has reviewed over 35,000 property files for a number of large corporate clients.
JCP has developed detailed processes utilizing Six Sigma methodology to assist clients in finding, reconciling and reviewing property files and critical documents, building document inventory databases, scanning and digitizing files for collaboration and disaster recovery and populating portfolio administration and IWMS databases. Using a combination of proprietary systems and a broad range of commercially available systems, this “platform independent” approach has provided clients with an objective and skilled resource team that can adapt to their systems and platforms.
Our Platform of Advisory Services Includes:
- File Review & Imaging
- Abstracting & Data Integration
- Portfolio Management
- Proposed FASB Changes
- Transaction Management
- Staffing & Consulting
- File and Document Revision and Reconciliation
- Lease Abstracting
- Intelligent Imaging (See White Papers)
- IWMS Implementation
- Sarbanes-Oxley Compliance
- FASB 13 Analysis
- Operating Expense Audits
- Capacity Planning and Utilization Analysis
- Due Diligence Support
- Property Tax Appeals
- Investment Strategy
- Financing
- Development Services
File Review & Imaging
JCP has developed a process called “Intelligent Imaging” which implements a file review and document coding process BEFORE imaging. Implementing this approach for a major portfolio client reduced the actual pages scanned by almost 90%. With an experienced and trained team of attorneys, law students and property professionals, JCP works with the client to identify the key and critical documents in a file that need to be scanned. The process which utilizes a proprietary workflow management system ReViewer™ also includes development of customized document naming conventions that can include unique property identifiers, document type, date and other client information if required.
Abstracting & Data Integration
As many corporations have undertaken the process of building portfolio management information or implementing integrated workplace management systems (IWMS), a critical element of the implementation is the conversion of information from leases, deeds and other property documents into fielded data for the information management system. This process of abstracting this information requires a combination of skills in contract law, real estate management and corporate finance. The JCP team has collaborated with client staff in converting this information into a variety of systems including TRIRIGA, Virtual Premise, Archebus, Manage Path and others. In addition to handling all English language documents on-shore, JCP has developed a network of contractors and partners to handle international foreign language leases. All abstracts are 100% QC reviewed by JCP staff. The scalability of staff and consistent process allow JCP to handle high volume – fast turnaround projects to meet the client’s schedule.
Portfolio Management
The Advisory Group also provides Portfolio Management and Lease Administration services for clients with portfolios from 10 to 350 locations. This service using web based systems provides clients with turnkey access to their property information, and an auditable process for the maintenance and changes to the database due to acquisitions, dispositions, changes in rent, or other changes to the property. The Portfolio Management team also provides regular reports to clients including critical date reports, lease expirations, future rent obligations and analytical reports including cost per seat, capacity & utilization, rent to revenue and other client driven metrics.
Proposed FASB Changes
JCP has been at the forefront of the proposed changes by the FASB of the Standard for Lease Accounting since 2008. In preparation for the scheduled release of the standard in mid-2011, the Advisory Group has developed data collection and analytical models to assist clients in preparing for the compliance and planning necessitated by the pending changes. Current projects are underway in discovery, lease review and abstracting of all leases in preparation for the new standard.
Transaction Management
For selected clients the JCP Advisory and Brokerage groups collaborate to provide multi-market transaction management services including site selection, dispositions, lease restructures and renewals. By developing consistent processes and standards with each client, the overall cycle time, execution and documentation of each transaction is greatly improved. Working with the business units within the client organization, the JCP Transaction Management approach develops a proactive rather than reactive process which optimizes real estate decision making. Through local affiliates and partners in over 220 markets worldwide the JCP team provides the client with current local market support and a single interface at JCP to ensure consistent execution.
Staffing & Consulting
With over 100 years of combined real estate experience among the partners and principals of Jackson Cross, there is a deep knowledge and understanding of elements of structuring, managing and optimizing a real estate portfolio. JCP has provided staffing resources for client projects in audit, Sarbanes-Oxley Compliance, Due Diligence, Discovery and Financial Analysis. The staff of JCP posses advanced degrees and professional experience in law, finance, technology and real estate, and as clients identify necessary skills to address a specific project, the JCP team has provided a valuable resource to support those initiatives.
The Partners of JCP have been featured speakers, authors and contributors to industry groups including, CoreNet, Urban Land Institute, the Society of Industrial and Office Realtors, RealShare, Realcomm, as well as local universities and business schools.