The Real Estate practice of Alvarez & Marsal has been awarded a five-year, $88 million contract to assist the U.S. Air Force (USAF) with its military housing and other public-private real estate programs.
Alvarez & Marsal said the contract, referred to as Air Force Post- Closing Management 2013 (PCM-13), which was originally awarded in December 2013 after a competitive bidding process, and then reaffirmed on June 11, involves a joint venture with CW Financial Services (CWFS).
According to a media release, A&M and CWFS will provide advisory and asset management services to the U.S. Air Force in connection with its privatized housing portfolio, which includes more than 55,000 homes located on 60 Air Force bases around the country as well as enhanced use lease projects involving commercial and industrial properties, among other initiatives.
"Alvarez & Marsal has advised the federal government on a variety of public-private real estate programs for nearly a decade," said Jay Brown, Managing Director with A&M's Public Sector Real Estate Services practice. "The size and complexity of the Air Force's portfolio requires much more than real estate expertise, making A&M and CWFS uniquely qualified to bring together a diverse team of restructuring, risk management, insurance, tax, forensics, performance improvement and asset management professionals to represent the Air Force's interest in these assets."