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Client

Regional/Publicly Traded Bank

Space

sq. ft.

Industry

Financial Services

Locations

Portland

Services Provided

Transaction Management
Consulting

Cresa Team

Blake St. Onge
Michael Whitten

Client Objectives

Consider the collaboration and cross-pollination of a unique partnership enabling the internal CRE team to function as a world class organization, based upon a strategic vision with laser-focused tactical implementation
Consider an aligned partner that will provide complimentary resources, expertise and tools to help elevate the internal CRE organization, so that it, too, can be a strategic partner with its business leaders
Evaluate the CRE portfolio to identify optimization, consolidation and other strategic real estate opportunities to produce savings and future expense mitigation

Results

Dispositions: partnership negotiated the disposal of +/- 30 underutilized assets within the first 9 months of engagement, providing capital back into the organization
Transactions: Actively working on +/- 45 projects, including renewals, expansions, consolidations, disposals and new locations within the portfolio
Ongoing alignment of the entire RE portfolio
Real Estate expense mitigation and saving opportunities for the client

We wanted to pursue a unique partnership that would provide world class CRE delivery and solutions for our organization, and Cresa has been an instrumental member to that partnership. We wanted a strategic partnership that that mirrored our reputation: distinguished, unique, creative, professional and high-quality. From the beginning, Cresa understood our business objectives and what we wanted to achieve. Thanks to the team, we’ve achieved a substantial portfolio optimization plan and are well on our way to ensuring that the portfolio adequately complements our business objectives. -- Michael Salas, Real Estate & Facilities Director