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Advisory Services
Diversity of problems, breadth of solutions, mix of clients in various property types describes our performance-based company. In addition to managing our own real estate investment portfolio, we also provide the following professional services to third-party investors and lenders:
• Market assessments
• Acquisition due diligence
• Disposition execution
• Business planning & financial feasibility
• Deal structure & capital sourcing
• Legal & tax frameworks
• Marketing strategy & programs
• Sales & leasing tactics
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• Conceptual planning & product design
• Governmental relations & entitlements
• Project & construction management
• Sustainability assessments
• Club operations & organizational assessments
• Property owner association management
• Asset management
• Brokerage services
Representative Assignments
© 2018
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Prospect – Mt. Crested Butte, Colorado
After purchasing one of two neighboring bank-owned subdivisions, a Canadian investment group requested due diligence support in their possible acquisition of the second. CedarHouse conducted a qualitative and quantitative market assessment by interviewing key market players and reviewing comparable sales data. CedarHouse’s conclusions included an absorption forecast, pros/cons analysis and identification of next steps for the combined 178 units.
Result:
• Client renegotiated the purchase price and financing terms from the seller.
• Client closed on the acquisition and proposed a joint venture with CedarHouse.
Bank Owned Residence - Somers, Montana
Montana’s largest bank foreclosed on a partially complete home overlooking Flathead Lake. Charged with working out of the OREO position, the loan officer hired CedarHouse to surface options. CedarHouse’s analysis included a review of comparable sales, testing various scenarios to complete the project with builders and brokers, creating securing an offer from the original builder, evaluating the options, sourcing multiple buyers.
Result:
• Bank decided not to invest any further in the property.
• Bank rejected first offer from builder, but accepted a second offer above the net book value of the property.
Saddlehorn - Bigfork, Montana
Local developers hired Cedar House principals to launch an 800-acre mountain and lake community overlooking Flathead Lake one hour from Glacier National Park. With a master plan approval in place, CedarHouse led entitlement efforts, assisted in the capital raise and oversaw all sales and construction activities for the first four years of development.
Result:
• Attracted $20 million in outside debt and equity capital.
• Out-performed comparable mountain projects amidst the economic meltdown with 45 closings.
The Club at Spanish Peaks - Big Sky, Montana
A retired financial services executive hired CedarHouse principals to start-up the financial, brokerage and club operations for a new ski-in/golf-out community bordering the Yellowstone Club. CedarHouse authored the business plan for the build out of the project and secured bank financing for the initial phases of infrastructure and cabin development. After attracting more than 200 new member families, CedarHouse inaugurated all of the service and maintenance operations of the club.
Result:
• $225 million in gross sales achieved during the first 15 months.
• Closed $27 million in financing leading to $100 million recapitalization.
• Opened 6 new business units representing $3 million in budgets and 80 employees.
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Lone Moose Meadows - Big Sky, Montana
CedarHouse principals provided financial management and homeowner relations to a stalled development consisting of 360 acres and 400 ski-in/out residences. CedarHouse created the business plan modeling the project build-out and served on the association board.
Result:
• Renegotiated ski lift service agreement with Big Sky ski area.
• Replaced the third-party property manager, addressed service quality issues and rebuilt trust with homeowner advocates.
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Crested Butte Marriott Resort - Mt. Crested Butte, Colorado
CedarHouse principals oversaw conversion of the 261-room hotel at the base of the Crested Butte ski area to a full-service Marriott, including $4 million upgrades and service quality training for all key managers. Later, CedarHouse helped the owner negotiate the sale of property to Club Med including 11 separate service agreements such as laundry, lift tickets and ski school.
Result:
• Ranked 4th best in the country as measured by guest service satisfaction scores.
• Paid down $29 million in debt from the proceeds of the Marriott sale.
Flathead Lake Orchard - Bigfork, Montana
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Representation of sophisticated senior software executive and family from Palo Alto, CA on the purchase of a lakefront orchard. CedarHouse principles worked with: attorneys, water right specialists, surveyors, contractors, engineers, county government officials and other professionals. Historic issues included: underground heating oil tanks, pesticides use, small abandoned trash dump, and interpretation of complex lakeshore zoning regulations. Problems solved: radon mitigation, contractor selection, water rights, phase 1 & 2 environmental site assesments, phase 3 mitigation of oil tanks & trash dump and interpretation of zoning land use.
Result:
• Acquisition of the 8 acre property originally listed for $5.8M. Sale Price Confidential.
• Client confident about purchase and made a larger investment when they constructed a lakefront cottage in their desired location.
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Flathead Lake Orchard - Bigfork, Montana
Professional Services Company - Kalispell, Montana
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Glacier Ranch - Kalispell, Montana
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A regional commercial bank hired CedarHouse to prepare the OREO subdivision for the annual Parade of Homes showcase. CedarHouse directed landscape maintenance and clean up, re-priced all homesites, formulated lot release strategy, created new site plan and web site, designed traffic capture program and manned the sales office during the event.
Result:
• Project was under budget expectations.
• Attracted 103 visitors to the sales office, including five who indicated new interest in the community.
• Generated detailed action plan for next steps following the success of the event.
Mountain Village Associates – McCall, Idaho
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Cerro Catedral – Bariloche, Rio Negro, Argentina
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A regional civil engineering and surveying firm engages CedarHouse principles annually to prepare a comparable market evaluation of their real estate holdings for the company's Kalispell branch. We provided a comphrehensive package for annual valuation of their Employee Stock Ownership Plan (ESOP) held company.
Result:
• Client was extermely pleased with presentation and product.
• Valuation was performed on time and on budget.
After interviewing numerous area land advisors/brokers, a discerning high net worth Montana family selected CedarHouse principles to represent their interest in identifying a new lake property. Performed extensive due diligence on a five acre orchard estate with a 5,000 SF custom residence on the shores of Flathead Lake was acquired for $4.2M.
Result:
• Acquisition of the 4 acre property for $4.2M (reduction from original list price of $4.5M)
• Client confident about purchase after thorough due diligence from CedarHouse principles, surveyor, water rights experts, and client’s attorney.
A high net worth executive from Buenos Aires engaged CedarHouse to assist in his assessment of the potential acquisition of South America’s largest ski resort located in the Patagonian lake region. CedarHouse identified potential cost savings and revenue enhancements by touring the property and interviewing the current owners. Key deliverables were summary proforma financial statements, documentation of the joint meetings, brainstorming on deal structure and powerpoint summary of the investment.
Result:
• CedarHouse was invited to join the investment group with a promoted equity interest.
• The parties are awaiting the disposition of an offer from another group before submitting an offer of its own.
CedarHouse documented a business plan and investment offering materials for the development of 388 acres at the ski area base of Brundage Mountain Resort. CedarHouse assisted the family ownership group in thinking through development costs, phasing of infrastructure and property releases, amenities and club structure and parking garage financing.
Result:
• Created detailed, phase-by-phase cashflow model of the build out of the project.
• Authored offering materials and due diligence package.
• Initiated contact with over 30 potential development partners.
CedarHouse principals led development of 400-acre, ski-in/ski-out parcel acquired in a historic three-way land exchange. CedarHouse obtained all entitlements, oversaw land planning and engineering, developed all governing documents and marketing collateral and orchestrated the initial release of phase I properties.
Result:
• Satisfied 237 zoning conditions, negotiated terms of municipal annexation agreement and saved $24 million with town approval of an infrastructure special district.
• Cultivated over 500 qualified buyers leading to $7 million in phase I closings.
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Bank Owned Subdivision - Bigfork, Montana
CedarHouse was engaged to identify, screen and recommend appraisers qualified to render an opinion of value on the proposed sale of a 1,854 acre conservation development parcel owned by a national timber company. Results delivered within four days in time for final client negotiations with the Trust for Public Land.
Result:
• Met aggressive time schedule with prioritized list of eight candidate appraisers.
• Client hired CedarHouse recommendation and project proceeded successfully.
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Mississippi Northwoods – Brainerd, Minnesota
Saddlehorn Residence - Bigfork, Montana
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CedarHouse provided on-site project management services for the design and installation of finishing touches of a $2 million second home of a British family. Scope of work included contractor selection and project design of the driveway finish, landscaping, patios, outdoor masonry fireplace, gazebo electrical and lighting service.
Result:
• Improvements delivered on-time and on-budget.
• Obtained final approval from architectural review committee and return of compliance deposit
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Tenant Improvement - Kalispell, Montana
CedarHouse provided on-site project management services for four tenant improvement projects in 10,000 square feet of space in our professional business park investment. Scope of work included budget & schedule planning, contractor selection, managing and preparing for city inspections, and ensuring that the project was completed on time for the tenant.
Result:
• Improvements of each project delivered on-time and on-budget.
• Certificate of Occupancy for each project granted without any conditions or issue.
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Flathead Lake Orchard - Bigfork, Montana
Representation of a high networth CEO and family from Dallas, TX on the purchase of a lakefront orchard. CedarHouse principles worked with: attorneys, water right specialists, surveyors, contractors, engineers, county government officials and other professionals. Historic issues included: underground heating oil tanks, pesticides use, and interpretation of complex lakeshore zoning regulations. Problems solved: radon mitigation, contractor selection, water rights, phase 1 & 2 environmental site assesments, phase 3 mitigation of one underground stoage tank and interpretation of zoning land use. This project was very similar to our other Flathead Lake orchard representations.
Result:
• Acquisition of the 8.6 acre property for $3.7M
• Client confident about purchase highly recommends Cedar House professionals.
"Stone Creek Camp" on Flathead Lake - Bigfork, Montana
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Representation of a high networth CEO and family from Dallas, TX on the purchase of a 15 acre lakefront property with over 700 feet of frontage featured in Architectural Digest (Click here for Article 1 & Article 2) . CedarHouse principles worked with: attorneys, water right specialists, surveyors, contractors, engineers, county government officials and other professionals.
Result:
• Acquisition of the 15 acre property originally listed at $19M. Sale price Confidential.
• Client confident about purchase highly recommends Cedar House professionals.
