Adler Realty Advisors Receivership Services
Adler Realty Advisors, an Adler company, provides a full spectrum of receivership services including financial reporting, accounting, due diligence, business planning, asset management, construction management, leasing, and disposition. Michael Adler, the designated Receiver, holds a Certified Property Manager (CPM) designation from the Institute of Real Estate Management and is a certified MAI Appraiser.
Unlike most Receivers who generally work as third-party consultants, our strength and experience in real estate investment ownership allows us to approach all engagements with an owner’s perspective and mindset. As a result, all management decisions are made with a focus on value preservation. Furthermore, by virtue of our success in joint ventures with a variety of private and institutional partners Adler has extensive fiduciary experience.
In addition to satisfying our partners’ complex and time-sensitive accounting and reporting requirements, Adler’s attributes extend to its comprehensive market knowledge, creative approach to leasing, and asset management services. Adler’s seasoned team of professionals provides the experience and expertise to execute difficult and challenging business plans.
Services Include
Adler’s Receiver and Managing Director of Portfolio Management oversee all staff and are involved in all functions of the asset management process, including:
Detailed due diligence (including environmental and property condition assessments)- Creating and documenting an annual strategic plan & budget for each asset
Establishment of specifications for, and oversight of all third-party vendor contracts including but not limited to landscaping, janitorial, HVAC, roof maintenance, vertical transportation, security, lighting, parking lot maintenance, and fire suppression and monitoring systems- Skillfully negotiating leases and related contracts
- Overseeing leasing broker relationships
- Construction management
- Performing building inspections and analysis of required improvements
- Detailed engineering and maintenance services
- Disposition services (including sales of multiple parcels and properties)
- Documentation and file storage of leasing, maintenance, and disposition work
Accounting and Financial Reporting
Adler completes all property accounting in-house with an experienced staff of property accountants that work in conjunction with the Property Management department. Adler’s CFO and Senior Director of Asset Management are both CPAs and bring a combined 20 years of public accounting experience to the table. In addition to preparing reports and financial statements for private equity partners ARI also has experience meeting the meticulous reporting and compliance demands of institutional partners and has successfully undergone compliance audits conducted by KPMG in relation to specific partnerships.
Our accounting and property management departments utilize nationally-recognized MRI software for accounting and reporting functions.
Primary functions of the accounting department include:
- Bookkeeping and timely receipt of collections and disbursements
- GAAP and FMV financial statement preparation
- Monthly reporting, inclusive of detailed variance analysis
- Periodic ‘Mark-to-Market’ valuations
- Monthly distribution of rent and CAM statements to tenants
- Monthly and Annual CAM reconciliations
- Coordination with third-party appraisers