GRREP PRIVATE ADVISORY
CONFIDENTIAL — BY INVITATION ONLY
Independent CRE Underwriting, Diagnostics and Decision Support
GRREP Private Advisory provides senior-level commercial real estate underwriting, transaction review, cap-rate diagnostics and portfolio-risk analysis for investment managers, lenders, family offices, property owners, developers and institutional decision-makers.
Our work combines commercial real estate investment judgment, structured-finance experience, applied data science and published research to help clients evaluate difficult decisions under uncertainty.
Select an Engagement
ENGAGEMENT OPTIONS
1. Executive CRE Strategy Consultation
Fee: $750
A confidential, 60-minute working session with Everton S. Latty, PhD, focused on one commercial real estate investment, underwriting, financing, development or portfolio question.
Appropriate for:
Acquisition or disposition strategy
Capital-structure questions
Underwriting assumptions
Going-in or exit-cap-rate considerations
Development or redevelopment feasibility
Portfolio or market concerns
Investment-committee preparation
Situations requiring an experienced independent perspective
Included:
Advance review of a short background memorandum or selected materials
One 60-minute private consultation
Discussion of key assumptions, risks and decision alternatives
Brief follow-up summary of principal observations
This engagement is intended for focused strategic advice. It does not include a complete underwriting model, appraisal or formal written investment report.
2. Independent CRE Underwriting and Risk Review
Introductory Fixed Fee: $2,500
An independent second-look review of one commercial real estate acquisition, financing, development or recapitalization opportunity.
Potential review areas include:
Revenue, expense and NOI assumptions
Rent-roll and operating-performance considerations
Going-in and exit-cap-rate assumptions
Debt-service coverage and leverage
Stabilization, refinancing and exit assumptions
Development costs and absorption
Downside scenarios and principal risk concentrations
Consistency between projected returns and underlying assumptions
Questions that should be resolved before investment-committee consideration
Included:
Review of the client’s existing underwriting model and supporting materials
Independent challenge of material assumptions
Concise written risk and underwriting observations
One 60-minute management readout
One reasonable round of follow-up questions
The introductory fixed fee covers one asset and a defined review scope. Full model construction, extensive market research, site inspection, engineering review, appraisal and legal or tax analysis are outside this scope and may be quoted separately.
Typical delivery: Five to seven business days after receipt of complete materials.
3. Cap-Rate and Portfolio Diagnostic
Engagements from $7,500
Initial Retainer: $2,500
A focused diagnostic review designed to help investment teams examine changing cap-rate behavior, valuation exposure and market vulnerability.
The work may address one market, one portfolio segment or one clearly defined underwriting question.
Potential applications include:
Cap-rate and valuation diagnostics
Portfolio stress review
Market and submarket comparison
Exit-cap-rate challenge
Underwriting sensitivity analysis
Identification of persistent market or asset-level factors
Review of irregular market movements and potential structural changes
Lending and credit-risk overlays
Acquisition timing and market-selection questions
Risk-committee discussion and portfolio reassessment
Cap-rate diagnostics are treated as early-warning and decision-support tools—not deterministic forecasts or mechanical buy-and-sell signals. They complement, but do not replace, asset-level underwriting and investment judgment.
Typical engagement structure:
Initial 60–90-minute working session
One- to two-week focused diagnostic review
Written observations or executive presentation
30–60-minute management readout
The $2,500 retainer is credited against the final agreed engagement fee.
Payments are securely processed by Silver Equity Growth Partners, LLC, the legal entity operating the GRREP Private Advisory platform.
4. Private Executive Briefing or Team Workshop
Fee quoted according to scope
Private briefings translate GRREP’s commercial real estate research into practical questions for underwriting, lending, portfolio management and risk review.
Potential subjects include:
Cap rates as indicators of market stress
Irregular cap-rate movements and changing market conditions
Factor persistence across markets and submarkets
Model choice and the limitations of market averages
Integrating research signals into traditional underwriting
Stress testing and investment decisions under uncertainty
Briefings may be structured for investment committees, underwriting teams, lenders, portfolio managers, research groups or executive leadership.
Published research may be discussed in context. Proprietary methods and unpublished findings are reserved pending publication or separate agreement.
WHY GRREP
GRREP operates at the intersection of commercial real estate investment, structured finance, decision science, data science and institutional underwriting judgment.
The objective is not to produce more data. It is to determine which assumptions matter, how they interact and where conventional analysis may be understating risk.
Engagements are deliberately focused. GRREP can examine one asset, one portfolio slice, one market or one consequential investment question without requiring a broad consulting mandate.
LEADERSHIP
Everton S. Latty, PhD
Managing Director, Golden Rock Real Estate Partners
Everton S. Latty, PhD, brings more than three decades of experience across commercial real estate, structured finance, investment analysis, development, research and advisory work.
He is a former B-piece Analyst responsible for approximately $9 billion of securitized commercial real estate debt. His experience includes underwriting, portfolio surveillance, stress analysis, development evaluation and institutional real estate decision support.
Dr. Latty is the author of published research examining capitalization rates as indicators of commercial real estate market stress and irregular market change. He has also served as a course director and lecturer at Johns Hopkins University and as an adjunct professor at Howard University.
HOW THE PROCESS WORKS
1. Select the engagement
Choose the service that most closely fits the decision or question requiring review.
2. Submit payment
Payment reserves the engagement and initiates the confidential intake process.
3. Complete the intake form
Following payment, the client receives a short intake questionnaire and instructions for submitting relevant materials.
4. Scope confirmation
GRREP reviews the requested work for fit, conflicts, data availability and scope. Any material adjustment will be discussed before substantive work begins.
5. Analysis and readout
GRREP completes the agreed analysis and presents its principal findings, questions and decision implications.
CONFIDENTIALITY
Client materials and engagement discussions are treated as confidential and used only to complete the agreed assignment, subject to any separately executed confidentiality agreement.
Prospective clients should not submit material nonpublic information, personally identifiable information or legally privileged materials until the engagement and appropriate handling procedures have been confirmed.
GRREP may decline an engagement because of scope, timing, conflicts, data limitations or other professional considerations. If GRREP declines before substantive work begins, the amount paid will be refunded.
IMPORTANT ADVISORY NOTICE
GRREP’s services constitute independent commercial real estate research, underwriting analysis and investment decision support.
GRREP does not provide:
A licensed real estate appraisal
Legal, tax, accounting or engineering advice
A fairness or solvency opinion
Brokerage or securities-placement services through this engagement
A guarantee of investment performance
A mechanical buy, sell or lending recommendation
All investment and lending decisions remain the responsibility of the client and its authorized professionals.
PAYMENT AND SCHEDULING TERMS
Payment is required in advance for fixed-fee engagements.
Consultations may be rescheduled once when at least 24 hours’ notice is provided. Missed appointments and late cancellations may be treated as completed engagements.
Project fees become nonrefundable once substantive review or analysis begins. If the requested work materially exceeds the stated scope, GRREP will obtain the client’s approval before undertaking additional billable work.
Purchase of an engagement does not create an investment-management, fiduciary, brokerage, legal or appraisal relationship.
PRIVATE CLIENT ACCESS
This page and the services described on it are provided by invitation only. The information may not be redistributed, reproduced or publicly circulated without GRREP’s written permission.
Golden Rock Real Estate Partners
New York City | Mid-Atlantic | Selected U.S. Markets