M&A and Private Equity

FINANCIAL ADVISORY

Valuation of Intangibles:

• Purchase Price Allocation in M&A processes.
• Valuation of brands, patents and image rights for various purposes:
  • Financial (M&A, collateral, contracts, information).
  • Legal (infringement of rights, tax planning).
  • Strategic (Marketing and Communication).
  • Accounting (impairment test).
• Valuation of real rights: concessions, surface rights, licenses, purchase options, easements for:
  • Corporate Transactions.
  • Financing processes.
  • Legal conflicts.
• Valuation of Goodwill for corporate transactions, financing processes or legal conflicts.

Business Valuation: Valuation of companies, valuation of businesses and business plans for corporate transactions, financing processes, legal disputes, remuneration packages or feasibility studies.

REAL ESTATE ADVISORY

Portfolio analysis and Due Diligence: For portfolio analysis and segmentation from the commercial, strategic, financial and real estate point of view. It is used for massive valuations (desktop, drive by, statistical).

Project Feasibility Analysis, Product Definition and Business Analysis:

• Establishment of the strategy and formulas for the outflow of assets owned by funds and financial institutions
• Definition of the most appropriate product on a commercial basis in each situation
• Commercial and financial feasibility of investment projects and real estate developments
• Preparation of financial projections

Tax impact on real estate assets and Cadastral Audit: Mitigation of the tax impact of real estate assets, which in some cases represents a considerable expense.

DUE DILIGENCE AND FEASIBILITY STUDIES

Due Diligence and Feasibility Studies are used to obtain the information prior to the signing of a contract. Therefore, it is the process by which a potential buyer evaluates one or more assets, in terms of:

• Location and current configuration.
• Ownership and occupancy status.
• Administrative and town planning status.
• Technical and normative compliance with its intended use.
• Possibilities in the future.

PROJECT MONITORING & COST CONTROL

Project Monitoring and Cost Control represents a very efficient tool for controlling the investments made by financial institutions, investment funds and developers in real estate developments. This service allows technical-financial monitoring of:

• Execution and construction cost according to scheduled project specifications.
• Developer’s legal and administrative requirements.
• Planning and advance of the real estate development.
• Financial and budgetary management of the real estate development.
• Fulfilment of objectives in terms of time and cost.

TECHNICAL ACTIONS

These refer to the technical services that allow the resolution of incidents related to the construction process, aiming at the completion and closing of unfinished projects, allowing to:

• Determine completion costs.
• Correct incomplete administrative records.
• Resolve administrative sanctions or litigation with individuals and companies.

PROJECT MANAGEMENT AND DELEGATED DEVELOPMENT MANAGEMENT

These are comprehensive technical services carried out on behalf of the client with regard to planning, organization and control of the resources with the purpose of achieving one or several objectives:

• Developing a real estate project as a technical team (partner service).
• Assuming almost all the developer’s duties, except for the financial one.

BUILDING EVALUATION REPORTS

The former Technical Building Report (ITE), currently named Building Evaluation Report (IEE), includes all services that certify the condition of buildings, at least with regards to their state of preservation, compliance with applicable universal accessibility requirements and also the energy efficiency level. These reports arise from a national Royal Decree, although they are developed at regional and even local level.

In general, it is mandatory for certain properties within time or sectoral parameters defined in each regulation.

ENERGY AUDITS AND CERTIFICATIONS

Energy Audits involve the inspection, study and analysis of energy flows in a building, process or system, while Energy Certifications provide information on energy consumption and emissions, allowing to measure energy savings in terms of consumption:

• They both arise from two national Royal Decrees, by transposition of European Directives.
• Energy Certifications are generally mandatory for all buildings (there are exceptions).
• Energy Audits are mandatory for large companies, as defined by the EU.