Baker Tilly, an Annual Sponsor of NAIOP Wisconsin, is a top 15 full-service accounting and advisory firm in the U.S. with specialized professionals who connect with you and your business through refreshing candor and clear industry insight.
This week Baker Tilly is NAIOP Wisconsin’s featured Annual Sponsor. Take a moment to learn more about Baker Tilly through their questionnaire below.
1. Tell us about your business. What is your scope and/or expertise? How can you be a valuable partner with NAIOP-WI members?
Baker Tilly Virchow Krause, LLP is one of the top 15 largest accounting and advisory firms in the United States. As an independent member of Baker Tilly International, we are proud to be a part of the world’s eighth largest accounting and consulting network, which includes firms in 141 countries totaling more than 28,000 professionals.
Our services span from tax, assurance and governance to growth strategies, performance optimization, transaction advisory and more. With offices in 13 states, and four offices in Wisconsin, Baker Tilly is perfectly positioned to understand and serve the needs of local NAIOP-WI members while having access to a global network of resources.
2. Describe your construction and real estate industry practice and how you serve contractors and real estate developers? Do you provide any specialty services to clients in this industry?
Construction and real estate advisory services comprise one of Baker Tilly’s largest practice areas. We work with general and specialty contractors, commercial and residential developers, investors and owners in a variety of industries. We deliver specialized accounting, tax and operational services throughout the construction and real estate life cycle—from concept development, financing and structuring to acquisition, construction management, completion, portfolio management and asset disposition. Our traditional services include income tax planning to capitalize on permanent and temporary savings (such as repair and maintenance studies and engineered cost segregation studies), new entity type structuring, advice and compliance related to like-kind exchanges, estate planning, internal control reviews, and financial statement engagements including forecasts, compilations, examinations, reviews, and audits. Additionally, our transactions advisory team has extensive knowledge and experience with federal, state and local tax credits, negotiated incentives, New Markets Tax Credits, Historic Tax Credits, EB-5 financing and others. These credits and incentives are reserved to help fund qualifying projects, and to date, Baker Tilly has raised more than $1 billion in capital and incentives for more than 400 projects
3. Are there any other recent developments at your organization to share?
In 2017, Baker Tilly expanded its EB-5 practice with the addition of Wright Johnson, one of the top EB-5 consulting firms in the United States focusing on Regional Center development, economic impact studies and business plan composition. EB-5 financing helps fund real estate developments through foreign individuals who make a qualifying job-creating investment. In exchange for their investment, the individual receives a U.S. green card for them and their family. This addition allows Baker Tilly to provide comprehensive services throughout the lifecycle of the EB-5 deal.
4. Provide a recent example of how you helped a construction and real estate company to succeed.
Click on the link to hear from Gordy’s Market CFO on how Baker Tilly helped them expand their footprint in Wisconsin: Gordy’s Market leverages tax credits to add stores in new markets
Gordy’s Market, a local grocer with two stores in Wisconsin, was looking to expand by opening new stores throughout the state. But the challenges of funding these new locations posed as a huge barrier for their long term growth plans. Given their unfamiliarity of available financing options, David Schafer, CFO with Gordy’s Market, turned to the specialists at Baker Tilly for help.
Baker Tilly solution
Baker Tilly collaborated with Gordy’s Market to provide New Markets Tax Credit and economic grant program advisory services to source the NMTC allocation and provide financial structuring for this expansion project. During this process, Baker Tilly attended City Council meetings with Gordy’s Market, negotiated on their behalf and developed the necessary plans to unlock available financing.
With the help of Baker Tilly, Gordy’s Market received hundreds of thousands of dollars in value through credits and incentives. This allowed them enter markets they wouldn’t have been able to previously, and they now have 21 store locations throughout Wisconsin.