Frequently Asked Questions
Why would I engage Fidelis if attorneys and engineers are already reviewing the materials?
Legal, accounting, and technical professionals each evaluate documentation within their respective disciplines. That review is essential and addresses important details.
Fidelis Commercial Advisors applies structured, asset-level analysis informed by practical commercial property operations experience to evaluate how lease provisions, operating history, and documented capital expenditure patterns interact. Certain financial and operational exposures only become evident when these elements are considered collectively rather than in isolation.
This advisory is designed to complement existing professional review by providing an integrated perspective focused on asset performance and financial exposure.
What is commercial real estate due diligence analysis?
Commercial real estate due diligence analysis is a structured review of lease documentation, operating history, and capital expenditure records to identify financial exposure embedded within an income-producing asset.
Fidelis Commercial Advisors evaluates how lease provisions, operating performance, and documented capital expenditure patterns interact to clarify financial exposure that may not be apparent when materials are reviewed individually.
How is this different from a property condition assessment (PCA)?
A property condition assessment (PCA) is typically an engineering review focused on the physical condition of building systems and components. The PSA is an important part of due diligence and is reviewed as part of our analysis.
Fidelis Commercial Advisors does not perform inspections, PCAs, or engineering evaluations. Our work is document-based and focused on financial, lease, operational, and capital expenditure exposure derived from existing documentation and operating history.
How is this different from legal or accounting review?
Legal and accounting professionals review documentation within their respective disciplines.
This advisory applies a structured, asset-level analysis across lease provisions, operating history, and capital expenditure patterns to evaluate how these elements interact and affect financial exposure. It is designed to complement, not replace, legal or accounting review.
When should Fidelis be engaged in a transaction?
This analysis is typically engaged during the contract due diligence period, after access to leases, operating statements, property condition assessments, and capital records has been provided.
Early engagement allows investors to incorporate findings into underwriting assumptions, capital planning, and investment committee discussions prior to closing.
What regions do you serve?
As a solely remote advisory, we serve clients in any United States market.
What documents are required for a review?
While requirements vary by asset, typical documentation includes:
Rent roll and lease agreements
Historical operating statements
CAM reconciliations
Capital expenditure history
Service contracts
Property condition assessment report
Valuation report
Available maintenance records
The scope is limited to documentation provided by the client.
Do you inspect buildings or building systems?
No. Fidelis Commercial Advisors does not conduct physical inspections, engineering analysis, or property condition assessments.
The advisory is based solely on review and structured analysis of documentation provided by the client.
Do you provide investment advice or guarantees regarding risk?
No. This advisory does not provide securities advice, investment recommendations, or guarantees regarding performance or risk mitigation.
The service provides structured analysis and interpretation of financial and capital expenditure exposure to support informed decision-making.
What types of properties do you specialize in?
Fidelis Commercial Advisors focuses on retail, office, and flex/industrial assets.
The advisory is structured specifically around the lease mechanics, operating structures, and capital expenditure patterns common within these asset classes.
Who typically engages this service?
Clients typically include:
Private investors
Syndicators
Family offices
Small investment partnerships
First-time commercial buyers
The service is particularly valuable for buyers seeking structured, asset-level analysis prior to closing.
Is this service available post-closing?
Yes. Structured ongoing advisory engagements may be available for periodic review of lease exposure, operating performance, and capital expenditure patterns following acquisition.