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Market Analysis

Pro Forma Advisors provides developers and planners with market-driven analysis of their opportunities. We combine innovative tools and techniques with detailed data and trend analysis to evaluate a given concept in the context of market conditions. We review these conditions through a rigorous analytical framework and provide demand and performance projections for the given opportunity.

Market Reconnaissance

In real estate, local markets matter. In an industry as highly fragmented as real estate, on-the-ground research and local relationships are invaluable sources of information. As a professional services firm, we value these resources and are continuously cultivating and maintaining these relationships and research sources. For a given project, Pro Forma Advisors engages in a meticulous round of initial research, including a review of published and unpublished sources, face-to-face interviews, on-the-ground site visits, and workshops. This research is validated against our internal databases and then used as the basis of our market demand and feasibility studies.

Demand Modeling

A meaningful feasibility study begins with an understanding of market dynamics influencing a given opportunity. This encompasses an analysis of potential consumers, visitors, or tenants and their expenditure patterns and preferences, as well as relevant demographics and social trends. These factors are rigorously analyzed in order to yield projections of a given concept’s demand performance in the market.

Competitive Analysis

A meaningful feasibility study must also provide insight into the competitive environment. Our market and industry experience enables us to provide unique and informed perspective in this area.

Economic Master Planning

Expert feasibility analysis should provide more than just a yes-or-no answer. In the context of a project design or planning team, our analytical approach helps ensure that a project is appropriately scaled from an economic perspective. For a successful project, strong economic master planning is just as important as physical master planning and design.

Financial Modeling

A project’s feasibility is defined by its ability to provide target financial returns to investors, lenders, and developers. A pro forma financial statement condenses and summarizes the complex interactions between revenues, costs, phasing, and risk inherent in a real estate development. As the final step in our analytical process, we provide market-based, pro forma financial statements that help stakeholders understand financial variables, expected outcomes, and investment potential.

Investment Analysis

A project’s return on investment potential can be viewed from multiple standpoints, such as developer, owner, operator, lender, equity investor, host municipality, or public-sector partner. We work with our clients to ensure that investment potential is defined and portrayed in a way that is most meaningful to key project stakeholders.

Investor Communication

Project economics and feasibility are central to project development discussions, and of interest to all potential stakeholders. Pro Forma Advisors realizes that feasibility results have implications throughout the development process, and recognizes that our projects do not end with the delivery of a report. We stand by our findings, and are available to assist in the development process by communicating with potential investors and capital sources, as well as assisting in the deal negotiation process.

Economic Impacts

Major projects have significant economic impacts on their host areas, including the generation of new jobs and spending, as well as the consumption of additional public services. It is important to know and to communicate these impacts in a fair and deliberate way, to help stakeholders understand the issues and tradeoffs involved.

To estimate economic impacts appropriately, it is vital to understand the underlying business model and opportunity. Pro Forma Advisors specializes in delivering impact analysis that grounded in market insight and tailored for the appropriate stakeholder.

Fiscal Impacts

A major project will generate new taxes and other public sector revenues, as well as direct and indirect costs related to providing infrastructure or other services to the development. Fiscal impact analysis can communicate a project’s true value to the public sector, helping to ensure that a project is beneficial to its community, and that – where appropriate – reasonable development incentives may be justifiable.

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