Strategic finance for US real estate companies across multifamily, CRE, development, and specialty assets.

A fractional CFO for a real estate company handles the financial work that an in-house finance team would do — but on a part-time, scope-flexible basis. For real estate specifically, this means acquisition underwriting (NOI, cap rate, DSCR, cash-on-cash return, exit cap rate sensitivity), debt and capital structure discipline (LTV, fixed vs floating, maturity laddering), NOI protection (rent collection, occupancy, expense control, insurance and property tax), development feasibility (hard cost, soft cost, interest carry, absorption), asset management dashboards (rent roll, AR aging, maturity schedule), and investor and lender reporting on property-level metrics. The work is delivered by experienced finance professionals trained in-house at EasePro.

Real estate acquisition underwriting should be built around NOI, DSCR, cash-on-cash return, unlevered yield, exit cap rate, and refinance proceeds — not around purchase price per square foot or per unit alone. We run downside scenarios for vacancy, rent decline, expense inflation, cap-rate expansion, and higher refinance rates. Base case must work without aggressive rent growth or exit cap-rate compression. We use recent closed comparable sales and current lender terms rather than outdated peak-cycle assumptions. The output is an acquisition committee model that survives lender diligence and shows the deal still works if the assumptions soften.

The Mortgage Bankers Association reported that approximately $875 billion of commercial and multifamily mortgages, around 17% of $5.0 trillion in outstanding loans, is scheduled to mature in 2026. With property values softer in some segments and borrowing costs elevated, refinancing can require additional equity even on cash-flow-positive assets. We prepare owners with rolling 18-month maturity schedules, refinance scenarios at lower appraised value and higher cap rates, fixed vs floating-rate stress tests, and lender-ready packages with updated rent rolls, trailing financials, capex plans, and business plans. Refinance planning should start 12–18 months before maturity, not three.

Operating expenses can quietly erase NOI. CRE insurance premiums have risen roughly 158% since 2017 according to First Street analysis, with especially large impacts in climate-exposed multifamily and industrial assets. Property taxes can jump after acquisition triggers reassessment. We build monthly variance reporting for rent collections, vacancy, concessions, repairs, payroll, utilities, taxes, and insurance — separating physical from economic occupancy to find hidden revenue leakage. Insurance is requoted well before renewal with multiple deductible structures modeled. Property tax is underwritten on post-acquisition reassessment, not the seller's historical bill. Recoverable expense clauses in commercial leases are audited so reimbursement assumptions match legal reality.

Development risk is different because cash is spent before any revenue is produced. Developers face land carry, entitlement uncertainty, labor and material inflation, financing draws, interest carry, change orders, utility delays, and lease-up or sales absorption risk. A small change in construction cost or exit cap rate can compress the development spread from healthy to marginal. We build development models with detailed hard cost, soft cost, interest carry, owner contingency, escalation assumptions, and phased absorption. Schedule contingency, change-order discipline, and pre-leasing or pre-sales reduce capital at risk. The model is updated against milestones rather than left as a static pro forma.

We work with US real estate companies across the size spectrum — from emerging investors and small developers building their first acquisition model and 13-week project cash forecast, through mid-market multifamily and CRE owners managing portfolios of 5–50 properties needing asset management dashboards and refinance planning, through larger sponsors and developers needing investor reporting, fund-level modeling, and lender-ready documentation across multiple assets. Engagement scope adjusts to portfolio size and asset class; the standard does not.