Due Diligence Consultants Archives

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Hong Kong Faithrise – Acquisition Due Diligence

Hong Kong Faithrise Investment Holdings Limited | StoneCreek Partners acted as a real estate due diligence and consultant and owner representative to the acquisition process, to this PRC-based investor pursuing a coastal California golf resort (development site) acquisition. Work included issues of project feasibility and hotel management company alternatives for this new development situated to include two existing championship golf courses.

Established in Hong Kong SAR, Faithrise Group (the “Group”) is a new capital and products operation group. As of year-end 2014, the Group had approximately USD $325 million under direct management, with new capital infusion in 2015-2016 that will take the Group’s assets under management to well over USD $500 million. Through wholly-owned affiliates, Faithrise Group has established outbound investments throughout the U.S., Canada, and now in Spain. In 2014, the Group formed Faithrise Capital Spain S.L. (Madrid) to facilitate its acquisition of Barcelo Sancti Petri Spa Resort, a 5-star resort in Cadiz. In 2013, Faithrise Group acquired SimpliFlow Competitive Sports in Toronto, which is now expanding in Canada and soon to the U.S. and Europe.

Real Estate Consultants - Office and Industrial

Feasibility & Due Diligence – The Edge Flex-Tech Office Park

GE Capital | Real estate project consultants for feasibility analysis to support lender’s analysis of planned flex-tech office development. StoneCreek Partners prepared a market feasibility evaluation of this El Segundo (Los Angeles County) flex-tech office park, as part of underwriting for a loan by lender GE Capital to the project’s developer. Study included review of comparable facilities throughout Southern California.

Due Diligence for Shopping Center

01.08.2016 Due Diligence Consultants, Malls and Shopping Center Consultants, Property inspection services

Due diligence for shopping center acquisition, the Phillips Edison & Company, Inc. (REIT) acquisition of Lakeside Plaza in Salem, Virginia.

StoneCreek Partners provided due diligence consulting in connection with buyer’s shopping center acquisition, including property inspections, Phase 1 environmental reviews, tenant lease confirms, and rent rollover analysis, for this grocery-anchored community shopping center. Support of the buyer included preparation of tenant lease abstracts, estoppels, SNDA (subordination, non-disturbance and attornment) provisions, and a review of common area charges (CAM) and vendors, among due diligence items.

Tenancies at Lakeside Plaza shopping center included a typical roster of anchor and inline retail tenants. The due diligence for this shopping center acquisition included co-tenancy considerations with regard to an on-site Kroger Fuel Center (a branded c-store gas station) albeit with limited convenience store offerings.

Salem is an independent city in Virginia adjacent on the east with the city of Roanoke (Virginia). The city is located in southwestern Virginia in a scenic setting along the Blue Ridge Mountains The shopping center is located at 161 Electric Road, Salem, Virginia 24153.

Phillips Edison & Company, Inc. (Cincinnati) is an internally-managed real estate investment trust (REIT), one of the largest owners and operators of grocery-anchored shopping centers in the U.S. The company has purchased and managed more than 300 grocery-anchored shopping centers throughout the U.S.

Due Diligence for Media Acquisition

24.08.2015 Due Diligence Consultants, Strategic Marketing Consultants

Due diligence for media acquisition, the Metromedia (Metropolitan Broadcasting) acquisition of Foster & Kleiser Outdoor Advertising. Our work included the preparation of Foster & Kleiser consolidated corporate financial projections to support a prospective acquisition by third-party. Work included select due diligence review of information and assumptions suggested by the company’s management, as well as the company’s overall strategic marketing plan for its 3rd-party clients.

Founded in 1901, Foster & Kleiser Outdoor Advertising was outdoor advertising’s original pioneers and have been credited with propelling the industry from simple posters pasted onto any available surface to standardized structures that are uniform, attractive and often feature landscaping enhancements. Our due diligence for this media acquisition documented much of this company innovation as would benefit prospective acquirers. Outdoor advertising includes such media such as billboards, transit vehicles and other types of outdoor signs, including the signs on the outside of businesses. It also includes efforts to promote the company’s products on its own vehicle fleet, even if the effort is limited to brand displays.

As a result of our business planning and transactions advisory support, the company was eventually acquired by a division of Metropolitan Broadcasting called Metromedia, and was ultimately sold to Patrick Media Company. After 85 years of operation under the Foster & Kleiser name, the company was re-named as Patrick Media Group in September 1986. In 1995, Karl Eller and Partners acquired all assets of the company and renamed the business unit as Eller Media Co. In 1997, Eller Media Company became a wholly owned subsidiary of Clear Channel Communications, Inc., now known as iHeartCommunications, Inc. (as of 2014).

StoneCreek Partners’ due diligence for Metromedia (Metropolitan Broadcasting)’s acquisition of Foster & Kleiser Outdoor Advertising.

Feasibility and Due Diligence Consultants - Transaction Consultants and Negotiators

Hotel Portfolio Due Diligence

24.08.2012 Due Diligence Consultants, Project Consultants for the MENA Region, Project Consultants for Tribes and First, Property inspection services, Transaction and Dealmaking Projects

We provided hotel portfolio due diligence for a group of Hyatt Regency hotels located in Saudi Arabia, each of which has since been reflagged. As due diligence consultants’ our work was performed as part of the global real estate asset management practice at Newfield Enterprises International (a family office).

The engagement involved a portfolio of existing Hyatt Regency hotels operating in Saudi Arabia, for potential portfolio acquisition by client. Each of the portfolio hotels was luxury class and in superb locations within their separate trade areas. The due diligence report included an evaluation of competitive hotels, management contract review, and an analysis of each facility’s sales and operating history. Departmental staffing and profitability and 10-year EBITDA projections were also prepared, as part of the work.

One of the hotels (shown in accompanying photo) has since been re-branded as a Radisson Blu). The other portfolio hotels have also since been rebranded.

The hotel portfolio due diligence was prepared for Al Anwae Trading Est. (Riyadh), a family office. Along with Al Tameer Trading Est. (Jeddah), the two family trading companies owned Newfield Enterprises International as an extension of their respective family offices.