Due Diligence

Our Commitment to Due Diligence

At JRW, we are convinced that exceptional due diligence is key to successfully protecting and growing our clients’ wealth. Only investments that meet or exceed our highest due diligence standards earn our recommendation. Over the past 15 years, we have reviewed investment offerings whose aggregate value exceeds $20 billion. Less than 10% of those offerings ultimately met our standards for recommendation.

A worthwhile investment isn’t just one with attractive cash flow projections; it must also base those projections on sound underwriting assumptions. That’s why we have one of the largest due diligence teams in the industry, dedicated to seeking out and analyzing investment opportunities for our clients.

Stephen Holt

Stephen Holt

Co-Director of Due Diligence

Jordan Vena

Jordan Vena

Co-Director of Due Diligence

Christopher Thompson

Christopher Thompson

Due Diligence

Sara Seaman

Sara Seaman

Due Diligence

Josh Delo

Josh Delo

Due Diligence

Aaron Bush

Aaron Bush

Due Diligence

Chris Rogers

Chris Rogers

Due Diligence

Our Search for Real Value

We actively search throughout the United States for promising commercial real estate investment offerings. For each offering our due diligence team reviews, we collect research that goes far beyond the documents and reports provided by the sponsor. Using this research along with our proprietary financial analysis platform, we consolidate and stress test all quantitative and qualitative data about the offering. If we suspect that an offering will be unable to protect our clients’ capital or be able to yield high, durable cash flows, then we reject it.

What We Analyze

Our Findings

After we have vetted an offering, we summarize our findings and make them available to accredited investors online in a standardized format.

We provide full access to the supporting analysis and source material underlying each property summary.

What We Analyze

To identify investments we can confidently recommend, our due diligence officers analyze each offering with the aid of our proprietary due diligence program and industry-leading methodology, which incorporates both quantitative and qualitative criteria. This is a multi-layered process of evaluation. This investigation of investment opportunities requires a substantial dedication of our time, talent, and resources, yet is critical to our investing strategy. We analyze:

Assets

Acquisition Costs
Environmental Reports
Appraisals
Ownership Structures
Property Condition Reports
Insurance
CC&Rs
Inspections
Warranties

Tenants

Conditions of Leases
Balance Sheets
Industries
Durations of Leases
Other Financials
Competitors
Lease Rollover Dates
Historical Performances
Business Plans
Credit Scores
Trends

Markets

REIS Reports
Climate
Socioeconomics
Other Third-Party Reports
Local Infrastructure
Market Trends
Current Demand Generators
Traffic Conditions
Political Situation
Future Demand Generators
Police Statistics
Tax Environment
Geography
Demographics
Legal Conditions

Offering Model

Levels of Diversification
Contingency Plans
Bankruptcy Remoteness
Load
Asset Management Structure
Limits on Investor Liability
Reserves
Asset Management Fees
Exit Strategy
Operations
Tax Opinions

Financing

Costs, Risks
Collateralization
Coverage Ratio
Recourse to Investors
and More

Sponsor

Overall Success
Investor Testimonials
Current Performance
Assets Under Management
Quality of Available Offerings
Industry Reputation
Historical Performance
and More

If you’ve read this far, then you may be starting to realize why we need a whole team of professionals to do due diligence right! And these details only scratch the surface. We won’t bore you any further with the fine details—that’s our job. We dig deep into everything we review, because that’s what it takes to find investments of real value for our clients.