About Pacific Lighthouse
Pacific Lighthouse Consulting Group (PLCG) is a commercial real estate consulting and advisory firm, specializing in providing clients
high quality financial analysis and support services. We are a diverse group of seasoned professionals with nearly 30 years of combined
experience. The team has collectively worked on over 850 transactions, totaling $18.5 billion from the investment sales, principal investing, and
lending sides of the industry and all major property types.
PLCG offers commercial real estate firms a smart alternative to an in-house analytical staff. We have the experience and expertise to provide your
group a more comprehensive and accurate financial analysis platform, without the need to train a junior professional and at a fraction of the cost
of a full-time employee. Our group works with clients to structure and underwrite commercial real estate transactions, assist with due diligence,
reanalyze current holdings, create proprietary financial analysis platforms, manage loan workout processes, assist with the creation of memorandums
for dispositions, recapitalizations, and refinancing while helping facilitate those processes.
References, current, and past clients include:
Acquisitions, Due Diligence, & Loan Workout Support
PLCG assists its clients with identifying, evaluating, underwriting, structuring, and closing commercial real estate transactions. We can provide
analytical support for any type of transaction. Our Acquisitions, Due Diligence, and Loan Workout Support business line includes:
- Reviewing broker or seller provided marketing information to ensure accuracy.
- Underwriting and valuing potential real estate investment opportunities from any major property type including office, industrial, retail, multifamily, and residential (single family and condominium).
- Underwriting and valuing potential note purchase opportunities, including analyzing and structuring discounted note buybacks with current lenders.
- Analyzing potential investments using a client’s existing financial analysis model, or create a financial analysis platform that is specific to a client’s needs (please see Financial Analysis Platform Creation business line for more details).
- Aiding with underwriting complex debt and equity structures, helping clients to understand and achieve specific investment return hurdles.
- Assisting with raising equity or obtaining debt, depending on client’s needs, by expanding a company’s network of equity sources and active lenders.
- Providing vital market information, including sales, leasing, land, and construction comparables to assist clients’ underwriting, analysis process, and valuation decision.
- Assisting our clients’ due diligence process through supporting in-house staff, or heading the process, with an experienced team of professionals that know the intricacies of closing a commercial real estate transaction.
- Providing due diligence support that includes the review of all property level information, all legal documents, and all third-party reports.
- Managing the workout process for both creditors and debtors by recommending and implementing business plan strategies to maximize value and preserve capital.
Portfolio Analysis & Financial Restructuring
PLCG supports those groups needing assistance with portfolio analysis, or looking to reanalyze their current portfolio, to compare actual performance
to acquisition underwriting. We can evaluate any firm’s portfolio and suggest ways to optimize investment returns, as well as help facilitate quarterly
and year-end valuation reports. Our Portfolio Analysis and Financial Restructuring services include:
- Underwriting and analyzing your firm’s current portfolio from scratch, including creating Argus models directly from leases, current expense budgets, historical expense reimbursement reports, and in-place capital budgets.
- Comparing actual asset/portfolio performance to acquisition underwriting, providing variance reports and suggestions of how to better drive cash flows, maximize returns, and mitigate risk.
- Evaluating the in-place asset and portfolio level debt and equity structures, suggesting and sourcing revised structures to optimize performance, when necessary.
- Analyzing external property appraisals to determine quality and accuracy, deriving value when possible.
- Offering strategic advice on how to best optimize asset level and portfolio level returns through dispositions, refinancing, and recapitalization.
- Analyzing existing asset level and portfolio level debt, advising and facilitating the loan workout or disposition process, when necessary.
Financial Analysis Platform Creation
For those groups that have taken simpler approaches to investment underwriting in the past or for those newly created firms that have not yet created
financial analysis templates, PLCG can develop a financial analysis platform to fit your businesses’ underwriting requirements. PLCG has successfully
created financial analysis platforms for several commercial real estate investment companies and can create a platform that will fit your company’s needs.
Our Financial Analysis Platform Creation business line includes:
- Developing a financial analysis template specific to a client’s investment structure needs, yet adaptable to the changing investment market.
- Integrating the ability to underwrite any major property type and standard investment structures.
- Incorporating flexible debt, equity, and return configurations, including several possible debt pieces, variable equity hurdles, and numerous return matrixes.
- Highlighting return possibilities through providing extensive sensitivity analysis, increasing a clients’ awareness of upside/downside risks and increasing future investment confidence.
- Training the client on how to best use the capabilities of the model and understanding the outputs.
Memorandum & Disposition Preparation
PLCG offers its clients a team of professionals with the expertise to help your group prepare its portfolio or asset for disposition, refinancing,
equity recapitalization, or loan workout. We have the background and ability to underwrite from all major property types and financing structures,
and prepare the documentation necessary to take your asset/portfolio to market. Our memorandum perpetration services include:
- Providing a template to base all memorandum creation from, or utilizing the template provided by client to produce a thorough summary of the transaction.
- Underwriting and analyzing the transaction from the ground up, including creating Argus models directly from leases, current expense budgets, historical expense reimbursement reports, and in-place capital budgets.
- Collecting vital market information, including sales, leasing, land, and construction comparables for creating detailed market analysis and supporting asset/portfolio pricing.
- Researching all property level information, all legal documents, and all third-party reports to understand potential complexities and create detailed reports explaining the physical prowess of the asset/portfolio.
- Understanding complex in-place and proposed debt and equity structures, and the ability to describe their risks/rewards and how to unwind these structures, when necessary.
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Prior to founding PLCG, Mr. Cardon was a founding member and Acquisitions Associate at Helix Pacific (a subsidiary of Helix Funds), a San Francisco based
private equity real estate investment firm targeting west coast value-add and opportunistic investments. At Helix Pacific Mr. Cardon was responsible for
developing the firm’s proprietary financial analysis model used to evaluate all potential investments and headed the investment underwriting group.
Additionally, Mr. Cardon assisted in the development of the firm’s business plan and sourced potential investments. Previous to Helix Pacific, Mr. Cardon
served as an Analyst at Eastdil Realty, LLC (now Eastdil Secured, LLC). While at Eastdil, Mr. Cardon participated in over $4 billion of West Coast
institutional investment sales, M&A, recapitalization, and financing transactions. Mr. Cardon holds a Bachelor's degree in Business Administration from
the University of Michigan Ross School of Business.
Peter Conlon has over five years of direct real estate experience in structured finance, principal investing and commercial leasing. Most recently, Mr.
Conlon was involved in principal investing and structured finance within Buchanan Street Partner's acquisitions group in San Francisco. Mr. Conlon was
responsible for underwriting principal investments, preparing investment committee write-ups and financing packages for debt and equity transactions,
presenting investment opportunities to Buchanan Street's investment committee, and marketing third party debt and equity transactions to capital providers.
Additionally, Mr. Conlon was also responsible for transaction due diligence and closings. Prior to joining Buchanan Street, Mr. Conlon was part of NAI BT
Commercial's office leasing group, where he focused on representing office tenants in downtown San Francisco. At BT, Mr. Conlon was responsible for all
phases of the deal process, from new business origination, to business execution and closing transactions. Mr. Conlon graduated from the University of
California, Davis and holds a Bachelor's degree in Economics.
Prior to joining Pacific Lighthouse, Ms. Puskar worked for Divco West in San Francisco, where she served as Acquisitions Associate Director with
responsibilities including sourcing, underwriting and diligence of commercial acquisitions. Before DivcoWest, Ms. Puskar worked as an Acquisitions
Associate for RREEF for over five years evaluating and underwriting over $4.2 billion in assets and assisting in closing $1.4 billion commercial
transactions, with a focus on value added and multi-family sectors. Additionally, Ms. Puskar worked as an Associate and Analyst for Eastdil in
San Francisco and Sonnenblick Goldman in New York, where underwriting and brokerage experience was gained in the hospitality, retail and mixed use
asset types. Ms. Puskar received her Bachelor of Science in Business Administration from Boston University.
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Pacific Lighthouse Consulting Group LLC
2269 Chestnut Street, Ste. 869
San Francisco, CA 94123
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