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Optimization Success Stories

Lincoln Harris CSG (the corporate services group of Lincoln Property Company) has provided high-volume transaction services for companies like Wachovia, HealthSouth, Bank of America, HCA, and HCP to name a few. Within our core business lines are optimization services that include lease buyouts, surplus property disposition, lease recasts, facility downsizing / rightsizing, relocations, asset repositioning and subleasing. The following are examples of relatively specialized“high – volume optimization” initiatives handled by CSG.


NATIONAL HEALTHCARE COMPANY
Buyouts (specific initiative)
Goal: generate $10 million in gross savings by year end
Results: 101 buyouts were completed in 7.5 months (the average remaining lease term was ± 23 months). Gross savings were $14+ million. Average net savings as a % of remaining obligation was 61% after all costs. Annualized occupancy cost reduction exceeded $5.8 million.

Buyouts (business as usual)
Goal: generate maximum, timely reduction of occupancy cost
Results: 36 buyouts were completed in the year. Gross savings were $11+ million. Average net savings as a % of remaining obligation was 64% after all costs. Annualized occupancy cost reduction exceeded $3.2 million.

Downsize
Goals: (1) maximize costs savings; (2) maximize “savings vs. cost” benefit
Results: 42 downsize / relocations completed. Average beginning size was 5,127 sf, average ending size was 3,119 sf (±39% reduction). Annualized occupancy cost reduction of $1.3+ million.


NATIONAL FINANCIAL INSTITUTIONS
Mergers & Acquisitions (8 separate optimization initiatives)
Goals: (1) meet the time - sensitive purchase accounting reserves, (2) outperform indicative pricing
Results: CSG met the M&A goals for each initiative with 100% success. Collectively closed over 700 transactions within prescribed time frames (including 250+ buyouts / subleases). Additionally, CSG successfully completed over 400 downsizes / relocations. Collectively outperformed the accounting reserves by $42+ million.

     
   
         
       
         
 
                           
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