Success Stories

Albany Center for Pain Management

Albany
12,866 SF
Cresa Albany
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Client Objectives

Dr. Edward Apicella hired Cresa Albany to examine an active purchase agreement for medical office space. The client engaged Cresa Albany to assist them in evaluating the merit of the current contract as well as alternatives within the market.

Results

Cresa Albany conducted an investment analysis and determined that the agreement under contract did not make financial sense for the Client. Within the client’s desired geographic area, Cresa Albany identified four viable alternative purchases, one of which was not even on the open market.

In support of the client, Cresa Albany researched market sales in the area to determine comparable asking prices, managed a Request for Proposal (RFP) process, carried out full financial and transactional analyses of the RFP responses, and facilitated contract negotiations with the owner of the selected property.

As part of its contracted services, Cresa Albany used its customized RFPs to generate competition among commercial banks to provide the client’s financing. Cresa Albany’ in-house design and construction team also carried out a major renovation for the client to prepare the selected property for use.

Through Cresa Albany’ efforts, the client found his dream office, kept to his timeline, and held costs to a minimum.

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