EyeCare Partners

About

Eye Care Partners (ECP) is one of the largest eye health provider in the United States.

Challenge

Facing rapid growth through acquisitions, ECP encountered significant challenges in their real estate processes. Their lack of a centralized lease information database and inadequate rent roll preparation resulted in substantial financial losses. Additionally, they were lagging behind in implementing lease accounting standards.

Process

To address these obstacles, Mohr Partners’ Lease Administration team collaborated closely with ECP’s real estate and accounting teams, streamlining their lease administration process. The following steps were taken:

Collaborated with Tango Analytics to establish a comprehensive database system for ECP.
Conducted lease abstractions for over 700 leases, capturing critical information such as dates, rent details, options, clauses, recurring costs, obligations, co-tenancy, contacts, insurance, and lease accounting data.
Worked with legal, real estate, and accounting teams to develop a process manual encompassing all lease administration functions.
Implemented a monthly calendar for ongoing services.
Acted as a liaison between ECP and the software provider to ensure seamless integration.

Results

1. Achieved 30% year-on-year increase in savings through reduced payroll expenses, accurate rent payments, and proactive completion of Common Area Maintenance (CAM) audits.

2. Conducted weekly touch-base calls to address process improvements and oversee ongoing projects.

3. Delivered reliable and robust data that now empowers ECP to make informed strategic real estate decisions.

Services

Abstract lease data

Data accuracy validation

Document storage

Data exception & reporting

Critical date management

Electronic AP processing

Monthly reporting

Quarterly reporting

Weekly invoice processing

Monthly invoice review

CPI calculation review

CAM audits

For more information about lease administration services, please contact Sohail Hamirani.