Air Force
The Concourse Group, through its wholly owned subsidiary, Concourse FPS LLC, provides real estate, finance, and development consulting services to support the Air Force?s Military Housing Privatization Initiative (MHPI), Enhanced Use Leasing (EUL), Value Based Transactions (VBT) and other privatization-related efforts at Air Force installations nationally. The contract includes private-sector financial, legal, real estate investment and development expertise as required to support MHPI, Enhanced Use Leasing (EUL) and other related real estate and renewable energy programs. Concourse provides services to facilitate the process by which the Air Force solicits and evaluates proposals and engages in the execution of real estate and renewable energy transactions; facilitates and determine the feasibility of utilizing an EUL to leverage the Air Force's underutilized real estate assets to maximize their potential returns; and facilitates and determines the feasibility of utilizing other authorities for public/private partnerships as they become available to the Air Force for the development, management, and utilization of its real estate assets. The IDIQ contract, known as Real Estate Support Services (PRESS) has an ordering period that ends June 2016 and has an $40 million ceiling.
Under the PRESS contract and its predecessor contract (referred to as a PRESS contract), Concourse, has assisted on over $900 million worth of real estate and renewable energy development projects. Services performed under this engagement include:
- Enhanced Use Leasing/ Military Housing Privatization
- Real Estate and Renewable Energy Feasibility and Analysis
- Acquisition / Disposition
- Feasibility Analysis
- Capital Markets
- Budget Scoring
- Financial Analysis
- Portfolio Management
- Asset Management
- Financial Modeling
- Privatization Program Management
- RFP / RFQ Creation
- Developer Selection / Evaluation
- Industry Forums
- Technical Assistance
Army
In addition to numerous Army assignments on behalf of private sector clients, Concourse has also provided support to the Army and the US Corps of Engineers (USACE). Recent engagements include work performed on the Camp Humphrey’s housing privatization project where Concourse’s scope included supporting the proposals review; assessing the project cash flow pro forma; analyzing strengths and weaknesses of various development plans and supporting the drafting of the project Business Points Memorandum (BPM).
General Services Administration (GSA)
General Services Administration (GSA) Public Buildings Service (PBS), Greater Southwest Region engaged Concourse to analyze various lease documents and conduct due diligence for 44 properties in the Greater Southwest Region’s five state territory of Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. The goal of this analysis was to explore all possible methods of subleasing available and vacant space to non-federal tenants and derive an economic return for each property. As a result, recommendations were provided outlining the optimal course of action for each location based on current real estate market conditions in each submarket and existing lease terms. The elements of the analysis completed for each location included: Market rental rates, expenses, and lease terms for each area for the relevant type of space analyzed; Prospective tenants and/or target market for a sublease agreement, or statement as to why subleasing a particular space may not be feasible; estimated cash flow that could be derived from a sublease at the applicable market rental rate; a discounted cash flow analysis; a description of the current state of the rental real estate market; and a proposed marketing strategy for each rental real estate market.
Department of Veterans Affairs (VA)
Concourse has two IDIQ contracts with the Office of Asset Enterprise Management, the entity within the VA?s Office of the Assistant Secretary that manages and executes the VA?s EUL program. Under this program, the VA, in return for allowing VA property to be leased for non-VA uses on Department-controlled land, can require rent in the form of, monetary payments or other ?in-kind? consideration, which in the opinion of the Secretary enhances a particular VA activity?s mission. Recently, the VA created the The Building Utilization Review and Repurposing (BURR) initiative, a VA strategic effort to identify and repurpose underutilized VA land for development of affordable housing. Concourse is supporting VA projects at the following VA Medical Centers:
- Bath, NY VAMC
- Newington, CT VAMC
- Knoxville, IA VAMC
- Castle Point, NY VAMC
- Riverside, CA NCA
- Perry Point, MD VAMC
- Riverside, CA VAMC
Private Sector
Concourse has consulted with the leading private sector developers, including some of the largest publically traded developed in the United States, on significant commercial and residential projects. Our efforts have resulted in over two billion dollars worth of completed transactions and prepared us to offer expert advice to our public sector clients. Prior private sector clients have included:
- Duke Realty Corporation
- Forest City Enterprises
- Liberty Property Trust
- Opus
- JWS Associates
- Corvus International
- Beztak Inc
- BlackRock Realty
- The Michaels Development Company
- The Hudson Companies
- Draper & Kramer
- CF Jordan
- Centex
- The Benham Companies
- The Ambling Companies
Private sector engagements are subject to confirming no conflict of interest exists with Concourse’s Federal clients.
