Trinity Lutheran College Graduates to New Campus

"We engaged the Norman Partners team at a critical time in our school's history. We needed to set a course for our organization that would last into the next decade and beyond. They were able to leverage our real estate holdings to give us maximum flexibility and fiscal freedom. When they say 'value', they mean it in every sense of the word." –John M. Stamm, Former President, Trinity Lutheran College

The Challenge

Changes in enrollment at Trinity Lutheran College put a strain on their operating revenues while the cost of their extensive real-estate holdings and facilities were draining the college's resources.

The Solution

Norman Partners team members created a long-term real estate and facilities strategy for the college – centered on optimizing the value of their campus. We began with a targeted PR/Marketing strategy to attract the right buyer for the property, highlighting the site’s unique attributes and favorable pricing structure. We then designed a disposition strategy that allowed the college to remain on the campus for a period of time, and derived enough capital from the proceeds to purchase an existing facility in a different location.

The Result

We negotiated a unique lease-with-an-option-to-purchase arrangement which allowed the college five years to relocate. In addition, we conducted a region-wide search for new facilities. The result: Trinity now owns an ideal building in the Everett Central Business District that is less costly to renovate, capable of expansion, and generates additional cash flow from surplus space.

Norman Partners team members provided:

  • +Real Estate & Facilities Strategy
  • +Real Estate Evaluation
  • +Relocation Strategy
  • +Acquisition & Disposition Strategy
  • +Marketing & Negotiating Strategy
  • +Forecasting & Financial Modeling
  • +Site Selection
  • +Feasibility Studies & Analysis
  • +Strategic Needs Analysis
  • +Capital Planning & Restructuring

A Major University Benefits from a High Degree of Leadership

The Challenge

Real estate services were being provided internally at a large university in the Pacific Northwest. As the real estate office recognized the need for growth, university leadership wanted more efficiency, a strategic plan and the organization to support the team.

The Solution

Norman Partners team members helped the university's real estate office develop a strategy framework focused on increasing value while reducing wasted time, money, and resources.

The Result

We optimized the use of university assets, including both real estate and personnel. With roles clearly defined, wasted efforts were eliminated, and new positions were identified and filled that supported the new direction. The university's real estate office felt supported and empowered by the organizational and business strategies put in place, and successfully undertook the largest real estate acquisition in the school's history.

Norman Partners team members provided:

  • +Real Estate & Facilities Strategy
  • +Portfolio strategy
  • +Organizational Strategy
  • +Business Strategy Mapping
  • +Lease vs. Own Analysis
  • +Core Business Process Mapping
  • +Project Delivery Mapping

Local University Studies a New Approach

The Challenge

A large, state-funded university engaged Norman Partners team members to review and assess a new approach to real estate management – the creation of a real estate foundation. The university's real estate office had performed well in managing their growing portfolio, but due to its presence within the state's structure, they lacked tools and flexibility.

The Solution

We researched other universities to discover that this was a new concept, with only five foundations operating at the time. To round out our team we utilized experts in law, accounting, tax, nonprofit, public affairs and government financing. Unlike many foundations, this real estate foundation’s major benefit was not to generate revenue. Rather, its merits were based on cost reduction, efficiencies, strategic advisory capabilities and equity creation.

The Result

Based on the research, the team revealed critical aspects of the concept that must be considered before moving forward. A real estate foundation, under a fee-for-services arrangement, could be a beneficial path for the university. Unfortunately, the school operates under provisions that require funding for the foundation to come from the private sector. Current economic conditions require a delay in establishing a foundation, but implementation of this creative approach to real estate asset management may just be the future for this forward-thinking university.

Norman Partners team members provided:

  • +Real Estate & Facilities Strategy
  • +Capital Planning & Restructuring
  • +Feasibility Studies & Analysis
  • +Strategic Needs Analysis