Services

Bard Consulting specializes in strategic issues and complex problems that require analysis from a variety of perspectives – economic, organizational, strategic planning, and legal, among others. We have developed unique expertise relevant to institutional and individual real estate investors:

• Real Estate Investment Analysis
  
  With a strong background in real estate analysis, Bard Consulting is particularly well positioned to analyze specific real estate investment opportunities. We have successfully analyzed numerous transactions on behalf of buyers and sellers. We have assisted clients in developing asset acquisition and disposition strategies that are based upon anticipated market conditions and each client's financial objectives. Our work includes both an analysis of the investment strategy and, if applicable, a review of an investment manager’s capabilities to execute that strategy.
   
• Investment Manager and Joint Venture Partner Reviews
  
  Bard Consulting works with institutional clients to underwrite investment managers and joint venture partners for potential new investments or to determine if the existing management structure is sufficient and the existing personnel are qualified for the current assets under management. We have also provided counsel related to other issues, such as: a) approval of extensions or terminations of investment periods, b) whether to fund additional capital requests, and c) development of strategies for subscription lines.
   
• Performance Measurement Calculations and Documentation
  
  Bard Consulting has created and reviewed numerous financial models for performance measurement and has created or reviewed a significant amount of performance-based incentive fee structure language in transaction documents. We are particularly focused on the analysis of fee structures and, in conjunction with Dean Altshuler, Ph.D., CFA, have developed sophisticated financial models to help clients evaluate and/or negotiate investment manager promote structures, asset management fees, acquisition fees, and other ancillary charges that a manager or joint venture partner might propose.
   
• Workout of Troubled Relationships and Portfolios
  
  Bard Consulting works with pension funds and other investors to assess relationships, portfolios, and assets that are performing below expectations. Our work may include a review of an investment manager’s organization and operations, including: a) the manager’s track record, b) investment decision-making processes, c) compliance with existing documentation, and d) financial controls. We have analyzed complex portfolios and individual assets and, when appropriate, developed and assisted in implementing exit strategies.
   
• Fiduciary Oversight of Related Party Transactions
  
  Bard Consulting works with institutional investors to facilitate transactions where there may be a conflict of interest. These services are generally provided when assets overseen by an investment manager are being transferred to a new investment vehicle.
   
• Portfolio Management Assistance
  
  Bard Consulting assists institutional owners in managing diverse real estate investments. Services include manager oversight, investment documentation abstract preparation, quarterly reporting, negotiation, and documentation review.