Selected Engagement Experience

Project Type: Oilfield services expansion (well servicing, completions, P&A operations)

Capital Scope: ~$18 million total project cost

Financing Context: USDA Business & Industry (B&I) Loan Guarantee

Purpose of Study: Independent feasibility analysis for lender and USDA agency review

Key Issues Addressed:

• Contract-backed revenue sustainability

• market cyclicality

• operational scalability\

• downside risk and sensitivity analysis

Outcome: Recommended for USDA financing; feasibility accepted under RD Instruction 5001

Project Type: Large-scale mixed-use redevelopment of former retail mall into integrated live-work-play community

Capital Scope: ~$1 billion total project cost

Financing Context: Institutional and developer financing structures for mixed residential, office, retail, hospitality, and public amenities

Purpose of Study: Independent feasibility analysis to support underwriting, market absorption, and long-term capital allocation decisions in a complex, phased redevelopment environment

Key Issues Addressed:

• Market repositioning of obsolete retail assets into mixed-use community

• Demand projections for multifamily, single-family, office, retail, hotel, and public open space

• Infrastructure staging, parking integration, and pedestrian mobility planning

• Downside scenario analysis for phased construction, absorption risk, and macroeconomic sensitivity

• Impact assessment of public-private collaboration and municipal entitlements

Outcome: Determined development feasibility under diverse use cases; structured to support credit and investor review for phased financing and long-term investment decisions

Project Type: Commercial greenhouse and nursery acquisition and expansion

Capital Scope: ~$14 million total project cost

Financing Context: USDA Business & Industry (B&I) Loan Guarantee

Purpose of Study: Independent feasibility analysis for lender and USDA Rural Development review

Key Issues Addressed:

• Market demand validation

• asset-backed risk (water rights and geothermal energy)

• operational scalability

• seasonality, and downside sensitivity testing

Outcome: Determined financially and operationally feasible; study prepared in compliance with 7 CFR 5001 and accepted for agency and lender review

Project Type: Multi-phase, multi-specialty ambulatory surgery center (adaptive reuse of existing medical facility)

Capital Scope: ~$9 million total project cost

Financing Context: SBA-backed term financing (504 / 7(a))

Purpose of Study: Independent feasibility analysis for lender underwriting and SBA review

Key Issues Addressed:

• Market demand and competitive positioning

• regulatory readiness (AHCA / CMS)

• phased execution strategy

• physician-aligned governance

• downside and sensitivity risk analysis

Outcome: Determined feasible and recommended for financing; prepared in accordance with SBA SOP 50 10 requirements and accepted for lender review

Project Type: Off-airport surface parking facility serving a major U.S. hub airport

Capital Scope: ~$4.6 million total project cost

Financing Context: Commercial bank / credit union financing with SBA support

Purpose of Study: Independent feasibility analysis for lender underwriting and SBA review

Key Issues Addressed:

• Airport-driven demand fundamentals

• competitive supply and saturation risk

• conservative absorption and pricing assumptions

• technical and regulatory feasibility, and

• downside sensitivity analysis

Outcome: Determined feasible and recommended for financing; study prepared in accordance with SBA SOP 50 10 requirements and accepted for lender review

Project Type: Indoor ice and performance training facility (dual-sheet rink with off-ice training)

Capital Scope: ~$9.9 million total project cost

Financing Context: SBA 504 structure with participating commercial bank and CDC

Purpose of Study: Independent feasibility analysis for SBA 504 underwriting and lender credit review

Key Issues Addressed:

• Contract-backed baseline revenue and utilization risk

• Market demand durability and competitive saturation

• Construction cost certainty and technical feasibility

• Cash-flow resilience under downside and stress scenarios

Outcome: Determined financially feasible and creditworthy; study accepted for SBA 504 lender and CDC review, meeting SBA quantitative and qualitative feasibility standards

Project Type: Full-service destination resort with branded hotel, event, and hospitality amenities

Capital Scope: ~$54.7 million total project cost (Phase I)

Financing Context: USDA Business & Industry (B&I) Loan Guarantee

Purpose of Study: Independent feasibility analysis for USDA Rural Development and lender underwriting review

Key Issues Addressed:

• Destination-driven lodging demand versus transient highway lodging risk

• Diversified demand segmentation (group events, weddings, leisure travel) and market capture analysis

• Construction cost reasonableness, development phasing, and technical feasibility

• Operating margin durability, breakeven occupancy, and downside sensitivity testing

• Employment generation and rural economic impact compliance

Outcome: Determined financially and operationally feasible; study prepared in compliance with USDA RD Staff Instruction / 7 CFR 5001 and accepted for lender and agency review

Project Type: Purpose-built indoor pickleball and padel sports complex with integrated food, beverage, and event programming

Capital Scope: ~$18.4 million total project cost

Financing Context: SBA-backed lender financing subject to SBA SOP 50 10 8 underwriting standards

Purpose of Study: Independent feasibility analysis for SBA underwriting and lender credit review

Key Issues Addressed:

• Market demand depth and participation-driven utilization risk for indoor racquet sports

• Revenue durability supported by memberships, leagues, instruction, events, and food & beverage operations

• Development cost reasonableness and capitalization adequacy for special-purpose facilities

• Operating ramp-up risk, reserve sufficiency, and post-stabilization cash-flow resilience

• Downside sensitivity, DSCR sustainability, and stress-case performance

Outcome: Determined financially feasible and supportable under conservative assumptions; study prepared in accordance with SBA SOP 50 10 8 and accepted for lender underwriting review

Project Type: Purpose-built medical laundry and healthcare support services facility

Capital Scope: ~$20+ million total project cost (industrial facility and equipment investment)

Financing Context: USDA Business & Industry (B&I) Loan Guarantee (OneRD Guarantee Loan Initiative)

Purpose of Study: Independent feasibility analysis for USDA Rural Development and lender underwriting review

Key Issues Addressed:

• Regional healthcare demand fundamentals and contract-supported service requirements

• Labor availability, workforce development, and operational scalability

• Site suitability, infrastructure adequacy, and transportation logistics

• Capital structure reasonableness, working capital sufficiency, and liquidity resilience

• Financial sustainability under downside and stress-case scenarios, including probability of default analysis

Outcome: Determined financially, operationally, and economically feasible; study prepared in compliance with USDA RD Staff Instruction / 7 CFR 5001 and accepted for lender and agency review

Project Type: Mixed-use commercial development with restaurant, entertainment, and service-oriented components

Capital Scope: ~$15+ million total project cost (estimated, SBA-financed development)

Financing Context: SBA 7(a) and/or SBA 504 financing subject to lender and SBA underwriting review

Purpose of Study: Independent, third-party SBA-compliant feasibility analysis for lender credit approval and SBA underwriting

Key Issues Addressed:

• Market demand and competitive positioning across food, beverage, and service components

• Comparative feasibility of owner-operated versus third-party leased restaurant models

• Management structure, key-person risk mitigation, and incentive-based compensation design

• Employment requirements, operational scalability, and licensed practitioner considerations

• Financial sustainability, capitalization adequacy, and downside cash-flow resilience under stress scenarios

Outcome: Feasibility study prepared independently and objectively in compliance with SBA SOP 50 10 8; conclusions structured to support lender and SBA review for financing consideration

Project Type: Residential drug and alcohol rehabilitation treatment center

Capital Scope: ~$12+ million total project cost (facility development, licensing, and working capital)

Financing Context: SBA-backed lender financing subject to SBA underwriting and regulatory review

Purpose of Study: Independent feasibility analysis for lender credit evaluation and SBA compliance

Key Issues Addressed:

• Market demand for inpatient substance abuse treatment services within defined service areas

• Regulatory, licensing, and accreditation feasibility affecting operational timing and risk

• Payer mix assumptions, reimbursement sustainability, and revenue concentration risk

• Staffing requirements, clinical oversight, and operational scalability

• Financial viability, capitalization adequacy, and downside cash-flow resilience under stress scenarios

Outcome: Determined operationally and financially feasible under conservative assumptions; feasibility study prepared in compliance with SBA SOP requirements and accepted for lender underwriting review

Project Type: Boutique marina-based hospitality project featuring upland luxury suites and purpose-built floating lodging units

Capital Scope: ~$9.3 million total project cost

Financing Context: SBA 7(a) or SBA 504 financing subject to lender underwriting determination

Purpose of Study: Independent feasibility analysis for SBA underwriting and lender credit review

Key Issues Addressed:

• Experiential lodging demand and waterfront-oriented market positioning

• Revenue durability driven by transient lodging and ancillary guest services

• Development cost reasonableness, capital allocation, and SBA use-of-proceeds compliance

• Operational feasibility of floating lodging units and marina infrastructure

• Cash-flow sustainability, debt service coverage, and downside stress testing

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in compliance with SBA SOP 50 10 8 and accepted for lender underwriting review

Project Type: Industrial manufacturing and processing facility

Capital Scope: ~$25+ million total project cost

Financing Context: USDA Business & Industry (B&I) Loan Guarantee and lender financing

Purpose of Study: Independent feasibility analysis for USDA Rural Development and lender underwriting review

Key Issues Addressed:

• Market demand sustainability and customer concentration risk

• Labor availability, workforce scalability, and operating cost structure

• Site suitability, infrastructure adequacy, and logistics considerations

• Capital structure reasonableness, liquidity sufficiency, and working capital adequacy

• Financial durability under downside and stress-case scenarios

Outcome: Determined financially and operationally feasible; feasibility study prepared in compliance with USDA RD Staff Instruction / 7 CFR 5001 and accepted for lender and agency review

Project Type: Adaptive reuse and repositioning analysis of an existing commercial building

Capital Scope: Multi-million-dollar redevelopment scenarios evaluated (range dependent on selected use)

Financing Context: Lender and investor decision support for redevelopment, refinancing, and capital repositioning

Purpose of Study: Independent highest and best use and feasibility analysis to evaluate alternative redevelopment and reuse scenarios

Key Issues Addressed:

• Market demand and financial feasibility across multiple alternative use scenarios

• Legal, physical, and zoning constraints affecting redevelopment potential

• Comparative risk and return profiles of competing reuse strategies

• Capital investment requirements, absorption risk, and execution complexity

• Supportable use determination under financially feasible and maximally productive criteria

Outcome: Highest and best use determination supported by market, financial, and risk analysis; conclusions structured to support lender, investor, and ownership decision-making regarding redevelopment and capital allocation

Project Type: Highest and best use analysis for vacant and underutilized land along a major state roadway corridor

Capital Scope: Multi-million-dollar development scenarios evaluated across alternative commercial and mixed-use uses

Financing Context: Lender, investor, and ownership decision support for acquisition, redevelopment, and capital repositioning

Purpose of Study: Independent highest and best use and feasibility analysis to determine financially supportable land uses under current market, zoning, and infrastructure conditions

Key Issues Addressed:

• Corridor traffic exposure, access, and visibility impacts on commercial demand

• Market feasibility of alternative land uses under competitive supply conditions

• Zoning, entitlement, and physical constraints affecting development density and use

• Comparative financial performance and risk across competing development scenarios

• Determination of legally permissible, physically possible, financially feasible, and maximally productive use

Outcome: Highest and best use determination supported by market and financial analysis; conclusions structured to support lender, investor, and ownership decisions regarding land acquisition, redevelopment strategy, and capital allocation

Project Type: Full-service truck stop and travel center with fuel, convenience retail, food service, and driver amenities

Capital Scope: ~$20+ million total project cost (land, vertical improvements, and fuel infrastructure)

Financing Context: Lender and SBA-supported financing subject to underwriting and regulatory review

Purpose of Study: Independent feasibility analysis to support lender underwriting, capital allocation, and financing approval

Key Issues Addressed:

• Traffic count analysis, truck flow capture rates, and corridor-driven demand fundamentals

• Fuel volume assumptions, margin sustainability, and non-fuel revenue diversification

• Competitive positioning relative to existing and planned regional travel centers

• Infrastructure and environmental considerations associated with fuel systems and site development

• Cash-flow durability, capitalization adequacy, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study structured to support lender and SBA underwriting review and financing consideration

Project Type: Ground-up gas station and convenience retail facility

Capital Scope: ~$6–7+ million total project cost (land, vertical improvements, and fuel infrastructure)

Financing Context: SBA-supported lender financing subject to SBA and bank underwriting review

Purpose of Study: Independent feasibility analysis to support lender credit approval and SBA underwriting

Key Issues Addressed:

• Traffic flow, ingress/egress, and location-driven fuel demand fundamentals

• Fuel volume assumptions, margin sustainability, and competitive station density

• Convenience retail sales mix, attachment rates, and non-fuel revenue contribution

• Development cost reasonableness, environmental considerations, and fuel system infrastructure

• Cash-flow durability, debt service coverage, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in compliance with SBA SOP requirements and accepted for lender underwriting review

Project: Bellwood Loft Apartments – Phase I & II
Location: Morristown, Tennessee
Project Type: Ground-up Class A multifamily development (200 units, phased)
Capital Scope: ~$17.3 million (Phase I), phased expansion to 200 units

Financing Context:
Bank and agency underwriting support; lender-grade feasibility and risk assessment for construction and permanent financing review

Purpose of Study:
Independent, comprehensive feasibility analysis supporting financing decisions, investor underwriting, and phased development execution

Key Issues Addressed:

• Demonstrated multifamily market leakage and unmet Class A demand

• Optimized unit mix and amenity selection tied to absorption and NOI

• Technical site feasibility, zoning-by-right status, and infrastructure readiness

• Detailed pro forma modeling with downside, sensitivity, and Monte Carlo stress testing

• Cash flow durability, DSCR stability, and default probability analysis

Outcome:
Determined financially feasible and investment-grade; supported lender and investor underwriting with a fully documented, bank-ready feasibility study aligned with institutional standards

Project Type: RV and boat storage facility evaluated through highest and best use and site optimization analysis

Capital Scope: ~$12+ million total project cost across alternative development scenarios

Financing Context: Lender and investor decision support for acquisition, development, and capital deployment

Purpose of Study: Independent feasibility, highest and best use, and site plan review to evaluate financially supportable development alternatives

Key Issues Addressed:

• Market demand and pricing feasibility for RV and specialty vehicle storage

• Highest and best use determination under legally permissible, physically possible, financially feasible, and maximally productive criteria

• Site plan review and optimization, including unit mix, circulation, coverage ratios, and expansion phasing

• Development cost reasonableness, infrastructure requirements, and entitlement considerations

• Comparative financial performance, absorption risk, and downside sensitivity across alternative site layouts

Outcome: Highest and best use and optimized site configuration determined through integrated market, site, and financial analysis; conclusions structured to support lender and investor review of acquisition and development feasibility

Project Type: Expansion and capitalization feasibility analysis for an operating commercial business

Capital Scope: Multi-million-dollar expansion and working capital investment evaluated

Financing Context: Lender and SBA-supported financing subject to underwriting and credit committee review

Purpose of Study: Independent feasibility analysis to evaluate expansion viability, capitalization adequacy, and debt service sustainability

Key Issues Addressed:

• Market demand validation and revenue growth sustainability

• Operating cost structure, margin stability, and scalability considerations

• Capital structure reasonableness, working capital sufficiency, and liquidity needs

• Management capacity, execution risk, and operational controls

• Cash-flow durability and downside performance under conservative stress scenarios

Outcome: Determined financially and operationally feasible under lender-grade assumptions; feasibility study structured to support financing and credit review decision-making

Project Type: Market-based needs assessment and site selection analysis for licensed childcare facility development

Capital Scope: Multi-million-dollar facility development scenarios evaluated

Financing Context: Lender, municipal, and sponsor decision support for site selection, development planning, and capital allocation

Purpose of Study: Independent market needs assessment and site selection analysis to evaluate demand support, location feasibility, and development viability

Key Issues Addressed:

• Demographic demand analysis, household composition, and workforce participation trends

• Supply–demand balance for licensed childcare services within defined service areas

• Comparative site evaluation based on access, visibility, zoning compatibility, and land use constraints

• Revenue supportability relative to tuition rates, capacity utilization, and operating cost structure

• Feasibility implications for development scale, phasing, and capitalization adequacy

Outcome: Market demand and site suitability confirmed through quantitative analysis; conclusions structured to support sponsor, lender, and public-sector decision-making regarding facility development and location selection

Project Type: Purpose-built cold storage and temperature-controlled warehouse facility serving food and logistics supply chains

Capital Scope: ~$30+ million total project cost

Financing Context: USDA Business & Industry (B&I) Loan Guarantee and lender-supported financing subject to underwriting review

Purpose of Study: Independent feasibility analysis to support USDA Rural Development and lender underwriting for cold storage infrastructure development

Key Issues Addressed:

• Regional demand for refrigerated and frozen storage driven by food production and distribution activity

• Tenant demand durability, throughput assumptions, and customer concentration risk

• Construction cost reasonableness for specialized cold storage systems and energy-intensive infrastructure

• Utility availability, power redundancy, and operating cost sensitivity

• Cash-flow durability, capitalization adequacy, and downside stress testing under conservative operating scenarios

Outcome: Determined financially and operationally feasible; feasibility study prepared in compliance with USDA RD Staff Instruction / 7 CFR 5001 and structured to support lender and agency financing review

Project Type: Purpose-built, premium destination event venue designed for weddings, corporate events, and private functions

Capital Scope: ~$8.5–9.0 million total project cost

Financing Context: SBA 504 and conventional bank financing subject to lender and SBA underwriting review

Purpose of Study: Independent feasibility analysis to support financing, credit approval, and long-term operating viability assessment

Key Issues Addressed:

• Regional event demand depth, seasonality mitigation, and destination-driven utilization

• Competitive positioning within upper-tier wedding and corporate event markets

• Revenue diversification across venue rental, beverage service, and ancillary offerings

• Development cost reasonableness, capital structure adequacy, and SBA use-of-proceeds compliance

• Cash-flow durability, DSCR sustainability, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in accordance with SBA underwriting standards and structured to support lender credit and SBA review

Project Type: Purpose-built indoor multi-sport complex with integrated tournament facilities and outdoor amphitheater component

Capital Scope: ~$23.9 million total project cost

Financing Context: Public–private and lender-supported financing subject to bank and institutional underwriting review

Purpose of Study: Independent feasibility analysis to support financing decisions, capital planning, and long-term operational viability assessment

Key Issues Addressed:

• Regional and destination-driven sports demand, tournament capture, and utilization sustainability

• Competitive positioning relative to existing and planned indoor sports facilities

• Revenue diversification across court rentals, tournaments, events, concessions, and ancillary programming

• Development cost reasonableness, site feasibility, zoning compliance, and infrastructure adequacy

• Cash-flow durability, operating margin resilience, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study structured to support lender, investor, and public-sector review for financing and capital allocation decisions

Project Type: Adaptive reuse and redevelopment of a historic building into a premium destination wedding and event venue

Capital Scope: ~$12.0 million total project cost

Financing Context: SBA 504 and conventional bank financing subject to lender and SBA underwriting review

Purpose of Study: Independent feasibility analysis to support financing, credit approval, and long-term operating viability assessment for a historic adaptive reuse project

Key Issues Addressed:

• Market demand for destination weddings and special events within a historic venue context

• Competitive positioning relative to purpose-built and adaptive reuse event venues

• Revenue durability across event rentals, beverage service, catering partnerships, and ancillary offerings

• Development cost reasonableness, historic redevelopment constraints, and capital structure adequacy

• Cash-flow durability, DSCR sustainability, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in accordance with SBA underwriting standards and structured to support lender credit and SBA review

Project Type: Ground-up craft distillery and specialty beverage manufacturing facility with on-site production and tasting operations

Capital Scope: ~$10–12 million total project cost

Financing Context: SBA 504 and conventional bank financing subject to lender and SBA underwriting review

Purpose of Study: Independent feasibility analysis to support financing, credit approval, and long-term operating viability assessment for a regulated manufacturing business

Key Issues Addressed:

• Market demand for premium craft spirits and brand-driven differentiation

• Regulatory and licensing feasibility, including alcohol production and distribution compliance

• Revenue sustainability across wholesale distribution, direct-to-consumer sales, and tasting room operations

• Development cost reasonableness, equipment capitalization, and SBA use-of-proceeds compliance

• Cash-flow durability, DSCR sustainability, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in accordance with SBA underwriting standards and structured to support lender credit and SBA review

Project Type: Maintenance, repair, and operations (MRO) industrial facility with manufacturing and logistics support functions

Capital Scope: ~$25 million total project cost

Financing Context: USDA Business & Industry (B&I) Loan Guarantee subject to Rural Development and lender underwriting review

Purpose of Study: Independent feasibility analysis to support USDA Rural Development and lender underwriting review for a large-scale industrial operations facility

Key Issues Addressed:

• Regional and cross-border market demand for MRO services in industrial and transportation supply chains

• Competitive positioning and contract-backed revenue sustainability

• Labor availability and specialized workforce scalability in a border-adjacent industrial market

• Site suitability, infrastructure adequacy, energy requirements, and logistics optimization

• Cash-flow durability, debt service coverage resilience, and downside stress-case performance

Outcome: Determined financially and operationally feasible under conservative assumptions; feasibility study prepared in compliance with USDA RD Staff Instruction / 7 CFR 5001 and structured to support lender and Rural Development review

MRO New Hangar Facility (NCWV Regional Airport—Bridgeport, WV)

Project Type: Aviation maintenance, repair, and overhaul (MRO) facility expansion for KCI Aviation, centered on a new 20,000‑SF hangar on leased airport land enabling simultaneous service of two large aircraft.

Capital Scope: ≈ $8.2 million total project cost.

Financing Context: USDA‑guaranteed senior loan request of $7,500,000, 25‑year amortization at 8.25% interest; feasibility prepared for USDA mortgage loan guarantee underwriting per RD Instruction 4280‑B Appendix D, and aligned with OneRD/7 CFR Part 5001 feasibility and B&I application framework (e.g., feasibility definition; application and loan‑guarantee provisions).

Purpose of Study: Independent feasibility analysis supporting USDA Rural Development and lender underwriting review for a new MRO hangar/operations expansion at NCWV Regional Airport (KCKB).

Key Issues Addressed:

• Regional MRO demand and outlook: State‑level MRO industry exhibits positive revenue and employment trajectory through 2029, with West Virginia contributing to a $24.2 billion national industry.

• Competitive positioning and contract‑backed revenue sustainability: Established work with Pratt & Whitney entities and mission scope focused on PW800 series (Gulfstream 400/500/600; Dassault Falcon 6X), with monthly capacity to remove/install up to 16 core and 16 rental engines and complete 16 post‑rental inspections.

• Labor availability and specialized workforce scalability: Harrison County civilian labor force ≈ 35,415; unemployment ≈ 3.9% (≈ 1,381 job seekers). Staffing need ≈ 35 positions; market expected to support staffing with some relocation as needed.

• Site suitability, infrastructure adequacy, and logistics: 4.18‑acre leased parcel at 1211 AFG Road within NCWV Regional Airport; roadway access via WV Route 279; hangar sized to accommodate two large aircraft simultaneously.

• Cash‑flow durability and DSCR resilience under stress: Sensitivity analysis (RMA‑based) shows DSCR ≥ 1.52× in Year 1 even at a 25% revenue reduction, increasing over the projection horizon; overall financial position rated “low‑risk AAA” with low bankruptcy risk.

Outcome: Determined financially and operationally feasible under conservative assumptions: pro‑forma coverage adequate under stress; management feasibility supported by track record; feasibility prepared per USDA RD Instruction 4280‑B Appendix D and aligned to OneRD/7 CFR Part 5001 review.