Industry leader Tesler digs deep to uncover each property's true worth

David Tesler, Esq. - founder and chief executive officer of LeaseProbe, LLC, a lease abstracting services firm, and chief executive officer of Real Diligence, LLC, a real estate financial due diligence company - has a keen understanding of the intricacies that make properties more valuable and profitable. Utilizing this expertise, LeaseProbe and Real Diligence help property investors and managers make savvy real estate acquisitions and maximize the efficiency of their existing real estate portfolio. Given today's volatile real estate market, this expertise is invaluable. Both companies are independent affiliates of Madison Commercial Real Estate Services (MCRES), which offers an array of specialty services for the commercial real estate community nationwide. Turning Inefficiency Into Success Early in his career prior to the launch of LeaseProbe in 2004, Tesler served as an associate with Skadden, Arps, Slate, Meager and Flom LLP and with Jenkins, Gilchrist, Parker, Chapin, LLP, representing clients in the acquisition, disposition and financing of various types of commercial real estate. During that time, David recognized an inherent inefficiency in the process of lease abstracting - a law firm's critical review of the leases (including a summary of key financial, business and legal information) of a commercial property during the acquisition process. He felt the abstract should assess the property in greater detail and from a real estate perspective as much as from a legal perspective, providing reports that address discrepancies, missing documents and other critical issues. Tesler not only saw an underserved market but the fact that the process could be done, as he put it, "better, faster and cheaper." In 2004, Tesler met the principals at MCRES through mutual involvement in the acquisition of a multi-billion dollar nursing home portfolio and presented the idea to launch LeaseProbe as the first company in the U.S. to offer third-party lease abstracting services. Utilizing his entrepreneurial savvy and legal background and training, LeaseProbe was launched with a team of 15 paralegals, accountants and attorneys. The new company developed a systematic approach for the production of commercial lease abstracts. The staff grew rapidly to 140 full-time professionals by the height of the real estate market in 2007. LeaseProbe's client roster includes REITS, private real estate companies, nearly every large conduit lender in the country, investment banks and attorneys, as well as accounting firms, brokers and property managers. Providing A Turnkey Solution As LeaseProbe and its client base expanded, Tesler saw further potential and client demand for comprehensive commercial real estate due diligence services. In 2008, MCRES and LeaseProbe acquired Real Diligence, an established and well-respected company that scrutinizes the financial records of any property for internal audit or possible acquisition and provides accurate, reliable and timely analysis of past performance, growth potential and possible trouble spots. In this process, Real Diligence takes charge in requesting and gathering all documentation and then pouring over all documents received in order to provide accurate, reliable and timely analyses of past performance, growth potential and possible trouble spots. Upon completion, Real Diligence then compares its findings to the numbers presented prior to its analysis and compiles the results in an easy-to-read executive summary with all necessary backup documentation. In effect, by offering a wide array of financial due diligence services, Real Diligence provides a turnkey solution for commercial real estate owners and investors. When working separately, each company offers its own highly targeted services for the real estate industry. When working in tandem, the two companies offer turnkey solutions to the unique business needs of the commercial real estate community.