Scale portfolio lease cost reviews
Rank company readiness before ranking sites.
Start with owners, leases, bills, dates, and rights text. Send only ready files into specialist review.
This keeps weak files out of firm review.
A&M describes real estate as a deal-life workstream. That supports a repeat queue across companies.
It does not support a guessed portfolio outcome.
Start with company readiness
Build one company row before any site score.
Use these fields:
| Field | What it shows |
|---|---|
| Company | Legal company name |
| Operating owner | Named company lead |
| Leased sites | Sourced site count |
| Statement dates | Dates shown on each bill |
| CAM exposure | Bill total for one named period |
| Exposure scope | Period and charge pool used |
| Rights text | Present or missing |
| Source files | Ready or named gaps |
| Possible audit window | Confirmed, needs review, or unknown |
| Firm decision | Start, hold, or close |
Do not infer a final deadline from a statement date. Counsel should review unclear rights.
Company readiness answers one question. Can the work start with sound sources?
Use three readiness lanes
Place each company in one lane.
| Lane | Entry rule | Next step |
|---|---|---|
| Ready | Owner and core files exist | Rank sites |
| Needs files | A named source is missing | Send file request |
| Needs decision | Files exist, but scope is open | Ask company owner |
Do not start site math in the last two lanes.
This stop rule keeps the review queue clean. It also makes each delay clear.
Rank sites on shared facts
Use the same fields for each ready company.
| Site field | Rule |
|---|---|
| Site key | Company plus site plus year |
| Bill period | Exact CAM statement year |
| CAM exposure | Sourced total for that bill |
| Exposure scope | Period and charge pool |
| Delivery proof | Source file or named gap |
| Rights section | Lease page and text |
| Window state | Counsel confirmed, needs review, or unknown |
| File state | Ready or stopped |
| Review owner | Named firm reviewer |
| Next action | One clear task |
Mark CAM exposure as comparable only when its scope matches. The period and charge pool must both match.
Apply one priority rule
Rank only rows in the Ready lane.
Use this order for every ready row:
- Put counsel-confirmed open windows first.
- Put rows needing rights review second.
- Put unknown window states third.
- Sort each group by its earliest sourced date.
- Then rank like-scope CAM exposure high to low.
- Break any final tie by company, site, and year.
Move counsel-confirmed closed rows out of the ready queue.
This rule does not set an audit window. It only sorts sourced states.
Counsel makes each rights call. A delivery date is not a final deadline.
Keep unlike years and charge pools apart. Do not rank a guessed amount.
The EBRD study tracks planned actions in private equity. Your queue should do the same.
It should not turn an estimate into proof.
Run a file census
Ask each company lead for the same file set.
- Signed lease and changes
- CAM statement for each chosen year
- Date the statement arrived
- Landlord support on hand
- Prior notices and replies
- Named finance and legal owners
Record missing when a file is absent. Do not record none unless the owner confirms that fact.
A&M's advisory page asks how diligence captures lease duties and Day-1 risks. Use those as routing questions.
They are not proof of a tenant-side finding.
Walk one sample queue
This example is fictional. Assume the company names are made up.
| Company | Owner | Rights text | Files | Lane |
|---|---|---|---|---|
| Harbor Dental | Named | Present | Ready | Ready |
| Cedar Foods | Named | Missing | Partial | Needs files |
| North Labs | Missing | Present | Ready | Needs decision |
Harbor Dental may move to site ranking. Its ready state predicts no finding.
Cedar Foods needs the lease section. North Labs needs an owner.
Neither company should enter site testing yet.
Assume Harbor Dental has three ready site rows.
All dollar values below are made up. Each value covers a full 2025 CAM bill.
| Site | Window state | Sourced date | CAM exposure | Rank |
|---|---|---|---|---|
| Oak Clinic | Counsel confirmed open | August 15 | $42,000 | 1 |
| Bay Clinic | Counsel confirmed open | August 15 | $37,000 | 2 |
| Pine Clinic | Needs rights review | July 10 | $51,000 | 3 |
Oak and Bay share a window group and date. Their like-scope exposure breaks the tie.
Pine has an earlier sourced date. Its window still needs rights review.
That keeps Pine behind confirmed open rows. The order predicts no finding.
Protect company boundaries
Keep each company file set apart.
Use access rules already set by the sponsor. Share only the rollup fields needed for triage.
CAMAudit is not a data room. It is not a portfolio watch system.
Your firm owns the queue. Each company keeps its source records.
Measure queue health
Count work states, not hoped-for results.
Useful counts include:
- Companies with named owners
- Companies with complete core files
- Sites ready for review
- Rows stopped by file gaps
- Rows waiting on firm review
Do not call those counts value captured. They only show work state.
Route each ready row
The queue row remains the working record. Its named reviewer acts next.
Place that review in the private equity advisor pillar. Set its proof states in the lease cost charter.
New deal rows start in the buyout diligence schedule. Open rows then move to the 100-day action map.
More deal records sit in the transaction advisor hub. Other firm owners appear in the Practice Growth hub.
Where CAMAudit fits
Private equity advisors can add this queue work. Tie it to the portfolio queue.
CAMAudit does not watch the portfolio. Your firm chooses each ready row.
For that row, CAMAudit reads the lease and CAM bill. It can run fixed math checks.
The branded CAM audit keeps the source trail with the finding. Your firm reviews and signs it.
The company owner then chooses the action.
A checked queue item may support a dispute letter draft. Your firm checks its words.
It is not legal advice. Have counsel review before sending.
Define queue access in the service line guide.
Ready to add this work to your firm? Get started.