Faith-Based Partnerships
Lifting Properties, Elevating Standards.
A large percentage of the Tucker | Annex business is our partnerships with faith-based organizations. We work with these organizations to assist in the management of their physical plant. This often is assessing their current space requirements versus what is actually used.
Many faith-based organizations have large properties that incur significant utility and maintenance costs when buildings are often only used a few days a week. Additionally, many organizations have auxiliary buildings, parking lots, or land that may get infrequent use or, no use at all. As a result, it increases annual expenses when those funds could be better served toward outreach and growth.
Below, please see our areas of focus.
This can take many forms but often it involves several approaches. One common approach is where the organization sells a portion of their property to TuckerRE | Annex and we also resolve any deferred maintenance on the retained structures so there is no out of pocket expenses. Additionally, proceeds from the sale of portions of properties can be used for operations and organizational growth.
Strategy
Tucker | Annex provides strategic guidance to faith-based organizations, offering a fresh outside perspective. Our engagements have included serving on real estate-related steering committees, providing guidance on best use for properties; and financial and other analyses related to real estate options. If a property is to be sold, Tucker | Annex will advise on financial structuring so that the organization can generate long- term recurring income, above and beyond a traditional sale.
Asset Management
Tucker | Annex assists with maximizing the value and utilization of the organization’s real estate assets. One common approach is where the organization sells a portion of its assets, rather than the entire parcel. As part of the arrangement, Tucker | Annex resolves any deferred maintenance on the retained structures so there are no out-of-pocket expenses and the organization can start anew with an updated building without the operational headache of the construction work. Additionally, proceeds from the partial sale can be used for operations and organizational growth in the areas that matter most.
Property Management
Tucker | Annex can assist with the leasing of spaces that might be vacant for the majority of the work week; or completely unused during the week. Desirable spaces for leasing include, kitchens, parking spaces, conference rooms, classrooms, or larger banquet halls.