Real Estate
Reputation built on expertise
As a top advisory, tax and assurance firm and the 6th largest accounting firm in the U.S., we help clients realize greater value. Our real estate consulting and industry specialists have served clients across all segments of the market: residential, commercial, retail, industrial, office, hospitality, healthcare, mixed‑use, higher education and municipal facilities.
Why Baker Tilly?
Clients choose Baker Tilly because of our extensive national footprint, depth of experience and comprehensive service offerings. Our national and local industry professionals work together as a cohesive, collaborative team and will ensure our relationship with you is proactive, helpful, responsive, knowledgeable and industry-focused.
We work with: • Private equity real estate funds • Real estate investment trusts (REITs) • Real estate developers • Owners • Investors • Property managers • Institutional firms • Syndicators and lenders • High-net-worth individuals/ family office
Our service offerings
Our comprehensive service offering supports clients across the full real estate and investment lifecycle, combining tax advisory, accounting and assurance, digital solutions, valuation, transaction support and risk advisory.
Tax services
- Federal, state and local
- International tax
- Property tax appeal services
- Cost segregation and other cost recovery tax planning
- Section 704(c) for partnerships and 1031 exchanges
- Opportunity zones and other tax credits and incentives (LITHC and NMTC)
- IRS controversy and exam assistance
- Tax planning for tax-exempt investors, including pension plans, endowments, foundations and municipalities
- Transfer pricing studies
- Repair and maintenance studies
- Financial and estate planning
- State tax planning and nexus studies
- Tax planning for asset disposition and asset acquisition activity
REIT advisory services
- REIT quarterly asset and income testing
- REIT consulting, structuring and diligence
- ASC 740 calculations for taxable REIT subsidiaries
- Distribution testing
- Personal property testing
- Impermissible tenant service income testing
- Prohibited transaction testing
- Unrelated business taxable income testing for pension-held REITs
- Annual "earnings and profits" calculations for shareholders
Assurance services
- Audit, review and compilation services
- Operating expense audits
- Lease accounting (ASC 842 and GASB 87)
- Lease abstraction
- System and Organizational Controls (SOC) reporting
- Sarbanes-Oxley (SOX) compliance services
- Merger and acquisition due diligence
- Rule 3-14 audits
- Agreed-upon procedures
- Reporting requirements
- Financial statement preparation consulting
- SEC audit
- IPO preparation and registration
Risk advisory services
- Enterprise risk management
- Internal audit
- Sarbanes-Oxley (SOX) readiness and compliance
- Regulatory and compliance advisory (beyond SOX)
- Cybersecurity, privacy and IT control testing
- Service Organization Control (SOC) 1, 2 and 3
- Operational resilience and business continuity planning
- Data analytics, AI and technology risk advisory
- Third party risk management (service providers, vendors, other outsourcing arrangements)
- Property management internal controls
- Fraud detection and prevention
- Construction risk management
Construction contract review and negotiation
Construction contract compliance and cost control (construction cost audits)
Managed services
Accounting and financial services
- Month-end financial reporting
- Debt covenant reporting and management
- Construction draw management
- Document administration
- Transactional accounting
- Cost segregation
- Property management accounting administration and training
- Income tax preparation and/or support
- External audit support
- Job cost
- General ledger/AP/AR module administration
- Lease administration
- CAM/RE tax true-up, CAM estimates and CAM reconciliation
- Treasury administration
- Fixed asset administration
- Budgeting
- Year-end closing
- 1099 preparation
Fund administration
- Investor onboarding (subscription agreements, AML/KYC)
- Fund accounting and financial reporting
- Capital calls, distributions and investor statements
- Carried interest and fund waterfall calculations
- Investor relations support and portal management
- Fund-level treasury management
Human resources
- HR and payroll outsourcing
- Compliance
- Talent management
- Benefits administration
Consulting services
Financial advisory services
- Pre-transaction and acquisition support
- Post-close and integration services
- Valuation and reporting
- Exit planning and wealth diversification
Real estate valuation and advisory
Pre-transaction strategy, planning and decision support
- Market and feasibility studies
- Market rent studies
- Due diligence, modeling and underwriting
- Benchmarking studies
- Strategy, structure consulting and scenario evaluation
- Valuation and appraisals (property, portfolio, REIT or entity)
- GP/LP or fractional interest valuations
- Appraisal reviews
- Asset management services
- Portfolio optimization studies
Post-transaction support services (compliance)
- Fair value compliance (ASC 820) - portfolio valuations
- Business combinations and asset acquisitions (ASC 805, IRC 1060) - purchase price allocations
- Asset impairment (ASC 360) - asset valuations/appraisals
CFO Advisory
- Transaction readiness and support
- Financial planning and analysis
- Management reporting
- Cost management
- Treasury and cash flow
- Financial reporting and close
- Technical accounting assistance
- Audit readiness
- Business systems
Real estate transaction advisory
- Housing market studies
- Development advisory
- Site selection and location strategy
- Project finance and New Markets Tax Credits
- Energy and energy transition services
- Affordable housing consulting
Digital solutions
- Digital strategy
- Cloud services
- Data solutions
- Application services
- Enterprise solutions
- Business information systems
- Robotic Process Automation (RPA)
- Machine learning
- Artificial Intelligence (AI)
Whitepaper
