Clarity for complex
real estate decisions.
Independent analysis built around your project’s specific needs. Support can include financial modeling, feasibility analysis, market and rent studies, and project reforecasting.
Discuss a project
Analysis built around what your project needs.
There is no standard package or fixed set of deliverables. We start with the question you need answered, then define the analysis that will help you answer it, whether that means one focused assignment or support across multiple parts of a project.
Four disciplines of real estate financial analysis.
Support can focus on one question or connect several areas of analysis. The scope is shaped around the project and the decision you need to make.
Project modeling and ROI analysis
- 01
Quick pro forma, solving for the rent you need
- 02
Detailed pro forma with every backup study
- 03
Boxing parameters and key financial returns
- 04
Internal rate of return and waterfall analysis
- 05
Cost benefit comparison between options
Development due diligence
- 01
Comprehensive feasibility analysis
- 02
Zoning and the entitlement path
- 03
Density, setbacks, parking, and height
- 04
All fees and special requirements
- 05
Cost validation against real bids
- 06
Projected unit mix and product
Market and rent studies
- 01
Rent comparables by market and class
- 02
Vacancy, downtime, and time to release
- 03
Turnover and renewal rates
- 04
Demographics, lifestyle and property amenities
- 05
Job drivers, population and job growth
- 06
Competing projects and what they offer
Budget variance and reforecasting
- 01
Construction variance against the draw schedule
- 02
Operating variance against the annual budget
- 03
Repeating variances flagged before they compound
- 04
Updated cost to complete and year end forecasts
- 05
Monthly reporting you can hand to a partner or lender
What the analysis looks like in practice.
A few examples of the models, reports, and studies that can support a project at different stages.
A straightforward process from first conversation to final analysis.
- 01
Share the project
Send a model, budget, rent roll, plan set, or whatever information is available, along with the question you are trying to answer.
- 02
Define the scope
We discuss the project and identify the analysis that will be most useful. You receive a clear scope, schedule, and fee before work begins.
- 03
Review the findings
I complete the analysis and walk you through the findings, assumptions, and tradeoffs so you can decide what comes next.
Frederick Goethals
I’m Frederick Goethals, a commercial real estate finance and development professional with a decade of experience spanning financial analysis, construction budgeting, and project forecasting. My work has included building detailed pro formas for commercial real estate projects, including multifamily developments with more than 100 units.
I earned a Bachelor of Arts in Finance from the University of North Florida, graduating Magna Cum Laude, and hold an active real estate license in California. My financial training and practical development experience allow me to look beyond the model and understand how underwriting assumptions connect to project costs, market conditions, and the decisions required to move a project forward.