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The Value of Underwriting


In mid-2022, amidst the quickly rising interest rate environment, Linville Team Partners was hired to market and sell a multi-tenant shopping center property. The center had been well maintained but had a mix of credit and non-credit tenants. Many of the older legacy tenants were at below-market rents and there were several moving parts to the transaction including several rights of first refusal and a billboard lease with ambiguous language.  


Linville Team Partners performed a detailed rent study of the submarket to illustrate that the rental rates could indeed be increased substantially. Using this data, they hired CREModels to prepare a detailed underwriting of the existing financials, as well as several pro forma models to illustrate the upside in the investment. Having these materials on hand proved invaluable in securing the best price possible for the seller.


The team was able to secure multiple offers. One purchaser was unable to close due to interest rates, but a back-up offer was in play and the unrepresented backup buyer was able to transact and purchase the center for a competitive cap rate. 

The team’s marketing reach and salesmanship were instrumental in getting this shopping center sold during a turbulent time in the market with ongoing interest rate hikes. I’ve worked with several brokers over the years and I stress that LTP’s work ethic and marketing is unparalleled.”

Carey G.