CW-Nelson-Mullins-RFP-Response

PORTFOLIO MANAGEMENT/ LEASE ADMINISTRATION

• Review lease documents for key provisions and uncover areas of risk for overcharges • Independently reconcile the annual expenses • Summarize initial findings and factors that may impact audit results • Analyze landlord’s general ledger and selected invoices, service contracts, etc. • On-site field work and additional steps to verify expenses, when required • Verify gross-up methodology and pass-through calculations • Prepare audit findings report • Implement a recovery strategy in conjunction with NMRS There is no charge to NMRS for the lease audit services other than receiving a percentage of the savings that is achieved which is 35 percent (35%) of total savings through a Full Lease Audit. OUR EXPERIENCE WITH LAW FIRMS C&W has performed lease audits for numerous law firms providing our clients hundreds of thousands of dollars in savings. See Test Case #6 on page 62 in Appendix B “Law Firm Test Cases” to see how C&W was able to provide a total projected savings of over $850,000 for the firm. In addition, due to our consulting expertise we were able to improve upon the firm’s efficiencies, accounting procedures, and operating expense payments. 7. What is your process for benchmarking rent paid to market rent? C&W will provide a semi-annual Portfolio Overview, consisting of a review of rent obligations with NMRS as well as a market-to-market analysis of the current rent compared to market rent. An analysis will be prepared including each locations RSF, lease

expiration date, current fully escalated rent, current market rent for similar product, and whether the Firm is paying above or below market for each office. This analysis is prepared by the Market Champions in collaboration with C&W local research. C&W can also provide this analysis more frequently on an as needed basis. An example of what we would create for NMRS can be found in Appendix G “Sample Annual Rent Benchmarking”. In addition to our Portfolio Overview, each Market Champion will be familiar with the key terms and provisions and be responsible for proactively tracking and reporting on any material changes that influence NMRS market position. This includes building and ownership vacancy, hold strategy, financing, performance, as well as key market level influences.

26 Legal Sector Advisory Group | ADVISING FOR EXCELLENCE