AIR FORCE ENHANCED USE LEASING P3 PROGRAM

The Air Force Real Property Agency (AFRPA) required assistance to complete all Real Estate-related activities needed to identify the highest and best use and evaluate possible Enhanced Use Lease (EUL) transactions. AFRPA engaged Concourse to do a Concept Opportunity Study to identify and evaluate candidate properties. Concourse provided the following services: Prepared program-wide inventory of potential EUL opportunities taking into account the operational, force protection, environmental and infrastructure issues identified by the installation leadership, as well as relevant real estate market conditions to assess the development viability for each candidate property; evaluated office, industrial, lodging, golf course, and water treatment development/redevelopment possibilities and provided independent evaluation to justify a “go/no-go” decision on whether to proceed to phase II/III of the EUL project; and assessed the potential returns/risks associated with each candidate property based on real estate data.