Select Page

Overview

Altus Group represented a Cancer Center facility that sold for a purchase price of $290 million. After the sale price, the assessment rose to $160 million, 55% of the sale. 

Services provided

Our technology-enabled expert services enable commercial real estate professionals to connect to the market with greater speed, visibility and efficiency.

Results

The sale price was not indicative of the market value as defined by the State of Texas. We produced an income approach based on market rents, vacancy, expenses, and cap rates and removed any consideration of credit guarantees. Additionally, our Equity Analysis indicated that the new assessment (while 55% of the purchase price) was not fair and equitable to the subject’s competitors.

After two years of negotiations, we were able to reduce the assessment by $15.5 million per year for 2018 and 2019, which resulted in an assessment of less than 50% of the purchase price and tax savings of $875,000.

Services provided

Our technology-enabled expert services enable commercial real estate professionals to connect to the market with greater speed, visibility and efficiency.

close
close
forumContact us
close
close

Thank you for contacting us. we will get back to you shortly!

This site uses cookies to improve your user experience. By using our website, you are agreeing to our use of cookies.
Click here for more information.