Case Studies

Canterbury Asset Management was under contract to purchase a portfolio of industrial properties. The broker provided a rent roll showing the current in-place income, which formed the basis for the purchase price. Canterbury engaged UGL Analytics to review the provided materials to verify the accuracy of the income reported by the broker. The seller provided the leases as a single, thousand-page document—making it difficult to reference or analyze. Canterbury asked UGL to separate the leases into individual files, creating a more usable set of documents. 
UGL meticulously reviewed the leases and identified numerous errors in the broker’s rent roll. UGL prepared a corrected rent roll detailing the rent and reimbursements Canterbury should currently be collecting. UGL also outlined future increases in rent and recoveries. Additionally, UGL delivered a detailed reconciliation showing, for each tenant, the discrepancies between actual collections and what should have been collected. 

UGL also identified missing lease documents and instances where the seller had failed to notify tenants about rent increases they were contractually entitled to. Having this information, Canterbury was able to obtain the missing documents and take the necessary steps to operate the asset effectively. 

From UGL’s review, it was evident that the portfolio was underperforming. UGL Analytics provided a clear business plan for unlocking the portfolio’s full potential.