Performance modelling
Analysis of historic performance and DCF modelling, tested against business plan assumptions. Built from the ground up, or stress tested and audited where already available.
Finch+Finch is an independent real estate strategy consultancy. We help boards make better decisions across their real estate portfolio, with the strategy, the data and the market context to know what they actually hold and the confidence that the business plan is the right one.
Trustees and directors carry duties that don’t lapse when the business plan ends. Duties to beneficiaries and to shareholders, to regulators, and to the asset itself. Property is the asset class least willing to sit still and least inclined to explain itself. But too often it is considered passive. Secure. Low risk. And, in property ownership, that is never true indefinitely.
It is also the asset class most steeped in history: nuanced market practice, hard-won convention, and a diversity that defies comparison. Knowing your market can mean knowing which side of the street you’re on. The smallest change in lease terms can transform the risk profile. And weak reporting processes can smooth out the important details which are fundamental to strong decision-making by a board.
Which means the questions that matter are too often not on the agenda. How does valuation translate to a sale price when there is no liquidity? Are the objectives still consistent with stakeholder needs, or are they even the same stakeholders? Who is driving the business plan, and when was it last reviewed rather than rolled over?
We work with boards and trustees to provide independent reviews of portfolios and individual assets, set against some of the most challenging market conditions in twenty years. For managers and investors, we ensure decision-makers have the right information to make informed choices, by providing an independent view of the best strategy: what is working and what can be improved, within both asset and operational frames.
What we can do
Framed and priced before it begins, and finished in weeks rather than months.
Governance and reporting reviews
Assessment of the information which reaches the board and how it is used. Recommendations for processes which reduce overhead for managers, and focus directors and trustees on the narrative that matters. Metrics and data that are not simply an appendix, but tell the story of the investment.
Business plan review
The realistic paths for each asset — hold, refurbish, reposition, refinance, sell — appraised on a common basis so that they can be compared rather than argued. Written to be read by a board, defended to beneficiaries, and still make sense in two years.
Operational real estate
Analysis of the business, not just the property. Trading performance, operator agreements and management incentives examined alongside the real estate, so that a board can understand the relationship between the building and its operations.
Market context
Where the asset genuinely sits: sector, sub-market, competing stock, occupier demand, comparable evidence and liquidity. The context to a valuation and the justification for making an informed decision.
Transaction support
When the conclusion is to act, we lead acquisition underwriting, disposal strategy, capital structuring and refinancing, working alongside your existing advisers and acting for you, not the deal.
What skills we bring
Our network of specialists brings the necessary skills, led by a finance and real estate generalist with a genuine track record in the detail.
Where we work
We have capabilities that are applicable across the market landscape, underpinned by sector-specific knowledge and experience.
Who we are
Tom Finch MRICS
Founder, Finch+Finch
Most recently Chief Investment Officer at CIT Group, a London-based private equity real estate operator, Tom was responsible for deploying private and institutional capital in value-add investment across all sectors.
He founded Finch+Finch to provide the workstream that is too commonly missing: an honest appraisal of what an asset should do next, considered in the widest possible terms and grounded in evidence. With an industry-wide network, financial and analytical expertise and deep experience in hands-on real estate practice, he has both the judgement to ask the right questions and the means to find the best answer.