Scope
Acquisition of portfolio is finalized with sample of 5% abstracts – remaining 95% to be abstracted; however there is no clarity from seller on the data of sharing the digital copies.
Challenge
You can retain a team, since the timeline is not sure. Management will be fine with the seller\’s delay. However, if shared – it is expected to be up in Property management system and clear the back-log of monthly rent payables.
Solution
Based on the 5% pilot; team will decipher the Service Providers, number of Ground leases, number of master leases associated and the abstracts for the Master lease agreements – which gives a go ahead on receipt of the leases.
Results
1,500 abstracts have been delivered in a month\’s timeframe without any hassles.