Ethos Commercial Advisors was engaged to identify strategic reinvestment opportunities for proceeds from prior dispositions while expanding the client’s overall portfolio. The objective was to target urban markets offering strong in-place cap rates and healthy regional growth fundamentals supporting long-term value.
After analyzing several regional alternatives, Ethos identified Tacoma, Washington as the optimal market. Ethos guided its client through the acquisition, financing, and leasing of nine properties—comprising seven multi-tenant office buildings, one redevelopment site, two structured parking garages, and two surface parking lots.
Each transaction presented unique complexities, including sale-leaseback structures, environmental issues, diverse seller profiles including one public-agency, and lease-up challenges. Ethos created 5- and 10-year levered and unlevered cash flow models using Argus and Excel models to drive data-based negotiations and support financing, preformed rent roll, estoppel, and SNDA reconciliations for client and lender, led lease discussions while under contract, calculated prorations, and coordinated capital markets execution. Through proactive asset management support, Ethos increased occupancy by 6% and rents by more than 9% across 206,000 square feet of multi-tenant space in the first year.
This series of transactions exemplifies Ethos Commercial Advisors’ ability to transform complex reinvestment objectives into actionable, data-driven results. Through disciplined underwriting, precise execution, and ongoing asset oversight, Ethos not only preserved capital but positioned the portfolio for sustained income growth and appreciation.
Ethos Services
Associated Team Members
- Josh Bean, SIOR
- Executive Managing Director, Partner
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- Brian Hanson, MREF
- Senior Managing Director, Partner
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