Real estate is one of the most overlooked parts of a business sale, and one of the most likely to derail a deal late in the process. On this episode of The M&A Mastermind Podcast, host Nick Olsen welcomes Jason Bush, founder of Commercial Real Estate Strategic Advisory and a Certified Exit Planning Advisor. Jason is a former civil engineer who spent years in structured finance and reinsurance. He then became a partner at a large commercial real estate brokerage and helped close more than 160 buy-side M&A deals. He explains why real estate deserves the same scrutiny as the P&L, the lease terms that quietly create deal risk, and why doing the real estate analysis up front can save a deal before it goes to market.
In This Episode, You’ll Learn:
- How private equity buyers view real estate, and why sellers may need two separate transactions
- A real story where a “premium” offer tied to a rent cut would have cost the seller over $1 million in total value
- Why real estate analysis belongs in the first phase of an engagement, not in buyer due diligence
- The questions to ask when a seller leases their location vs. owns it
- Why most commercial leases were never drafted or reviewed by an attorney, and the risks that creates
- How to use a pre-sale lease renegotiation to win clear assignment rights for the seller and higher rent for the landlord
- Why owner-occupants should charge their own business market rent on a triple-net lease before selling
- Why leased locations are often the riskier deal at the closing table
About the Guest:
Jason Bush is the founder of Commercial Real Estate Strategic Advisory, where he helps business owners and M&A advisors understand how real estate affects enterprise value, profitability, and deal success. He is a Certified Exit Planning Advisor and a former licensed professional engineer in civil engineering. He spent years in structured finance and reinsurance before moving into M&A and advisory leadership. Jason was a partner and owner at Linville Team Partners, a commercial real estate brokerage. There he also helped build a sister buy-side M&A advisory firm that sourced and closed more than 160 deals in its first six years. Connect with Jason on LinkedIn.
About the Show:
The M&A Mastermind Podcast provides actionable insights and effective strategies tailored for dealmakers in the lower middle market. Hosted by Nick Olsen, the show features conversations with leading industry experts who share valuable knowledge on topics such as industry intelligence, deal management, collaborative successes, and specialized expertise. Listeners who support small to medium-sized business owners will find practical tactics and advice they can immediately apply to advance their mastery in mergers and acquisitions.
If you enjoyed this episode, please subscribe, rate, and leave a review. It helps more lower middle market dealmakers find the show.
Tune in Every Week:
- YouTube: https://www.youtube.com/@cornerstone_intl_alliance
- Apple Podcasts: https://podcasts.apple.com/us/podcast/the-m-a-mastermind-podcast/id1726394585
- Spotify: https://open.spotify.com/show/4fpVjEXbJ0FXKMgEK0m7QQ
- Website: https://cornerstoneia.com/podcast/
Resources & Links:
- Jason Bush on LinkedIn (includes his scheduling link): https://www.linkedin.com/in/jason-bush-value-advisor
- Nick Olsen on LinkedIn: https://www.linkedin.com/in/nick-olsen2328/
- Cornerstone International Alliance: https://cornerstoneia.com/
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In this episode of the M&A Mastermind podcast, Nick Olsen interviews Deborah Agrafojo, an expert in operations and business valuation. They discuss how effective operations can significantly enhance a company’s value, the importance of assessing operational health, and the Exit Advantage program designed to help business owners prepare for successful exits.