FARMINGTON HILLS, MI — (Marketwire) — 03/12/09 — XSite Validation, experts in propertyevaluation and site selection, today announced the release of its web-basedXSite Report services which provide comprehensive market viability analysisof commercial real estate properties. The concise and easy-to-read reportsgenerated by XSite’s service give banking institutions, retailers, realestate brokers, franchisors, and land developers a new tool to allow themto quickly assess a property’s fit for a specific use. XSite Reports helpreduce risk, improve valuation, and readily complete first-stage duediligence for commercial real estate investments.
Using the most advanced GIS technologies in conjunction with the realestate industry’s most trusted and reliable data providers, XSiteValidation’s online service can perform a comprehensive market viabilityanalysis of a property for a desired commercial use in minutes for afraction of cost associated with traditional research methods.
XSite Reports come at a critical time where a quick “go/no-go” assessmentof a property or an entire portfolio is essential for both credit andinvestment decisions. XSite Reports provides two major benefits. The firstis in helping financial institutions and real estate firms determine thelong-term viability of existing properties. The second benefit is inproviding extensive market research almost instantly.
“Due diligence and improved transparency are the best tools to combat thecurrent recession,” says Ian Burnstein, Partner at XSite. “The questionisn’t ‘why would banks or real estate companies want to use XSite Reports?’The question is ‘why aren’t they using a tool that dramatically reducesdecision-making time and cost?’
“Companies using XSite Reports can demonstrate to government regulatoryagencies, stockholders and customers that they are proactively addressingthe entire valuation issues that are plaguing our economy,” continuesBurnstein. “Going forward, every commercial loan that is originated withina banking institution will need to have something comparable to an XSiteReport in the file to justify the loan decision.”
At the core of every XSite Report is the XSite Report Index (XRI), apatent-pending objective property evaluation scoring model built around theintended use of a property. XSite’s industry-specific andcustomer-specific XRI models allow for the comparative assessment of manyproperties for one intended use and can identify the best use of a specificproperty. The XRI distills thousands of analysis variables and intended usecriteria into a simple “go/no-go” decision-making traffic light indicator.
Companies agree that the time is right for XSite Reports:
“XSite’s due diligence tools saved our organization a tremendous amount oftime and money,” says Andrew Milia, President of Franklin PropertyCorporation.
“We made an educated decision on new branch locations with XSite in amatter of minutes,” says Greg Brogan, Chairman of Summit Bank.
“The XRI scoring model will become a standard benchmark in the industry,”says Donn Mann of Mann Consulting.
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