First Evergreen periodically provides real estate advisory services to property owners and major real estate companies on a contract basis. As part of these services, First Evergreen has provided input on modifying a property’s use, advising on improvements and renovations required, representing ownership on lease negotiations, consulting and owner liaison on debt and equity financing and recommendations and implementation of processes to improve the timeliness and accuracy of rent billings. Some representative projects include:

• Renovated, re-tenanted and financed a 450,000 square foot office park. A tax deferred sale of the property to a REIT was negotiated and consummated.
• Appointed asset manager on a 15 building portfolio of class-A office buildings that required a major leasing and repositioning effort. Through our efforts, the portfolio was successfully sold at the end of the assignment.
• In two separate transactions, retained by the building tenant to provide analysis on cash flows, verification of operating costs and negotiated the purchase price and financing of their buildings.
• Oversaw the development of the purchase and conversion of an inner city factory building to residential condominiums. After working with the developer on the plans and costs estimates, we determined through independent pricing that the preliminary budget was materially understated for the work required and the project clearly exceeded the developer’s expertise level. We recommended that the equity partners not start the project. In follow up, the developer attempted the project with a different group that did not complete the project as a result of cost over-runs and construction violations.
• Presently acting as purchasing partner and advisor to an international corporation with regard to their real estate acquisitions, holdings and sales. One current holding is the Colgate-Palmolive facility located in Clarksville, IN, directly across the Ohio River from Louisville, KY. This facility consists of over 971,600 square feet of industrial and office space and is situated on over 52 acres of land. The property was recently vacated by Colgate-Palmolive and is being positioned as a redevelopment site to be parceled out and sold to local developers. Since purchasing the facility on March 31, 2009, First Evergreen has been overseeing the transition to market while maintaining the property.