Bank of the West
Western United States
CresaPartners Los Angeles
Client Objectives
The Bank of the West was looking to rapidly expand its retail banking operations by opening 20 new retail branches throughout the Western region. The Bank's objective was to acquire all the new branch locations within a relatively short time frame.
Result
Working closely with the corporate real estate department, CresaPartners identified broker partners in each market segment to assist in market analysis and site locations. In all instances the team traveled to each city with bank personnel to tour appropriate locations and make site selections. In addition to site selection and lease negotiations, CresaPartners assisted the bank in financial modeling and budgeting. Transaction structures included long-term building leases, building conversions for banking use, build-to-suit and ground leases.
In addition to retail site acquisitions, CresaPartners assisted Bank of the West with sale/lease back and redevelopment of an under-utilized site, and also helped with a consulting study that evaluated the opportunity of disposing under-performing owned assets.
Additional Assignments
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