BC Solutions didn’t just help us by completing the task — they elevated the process by allowing us to learn along the way, and then being available and responsive to us so we could get it done on our timeline. Having Alex saved significant time and reduced our risk of doing it the wrong way, which increased our revenue. He was willing to not only take care of the process, but teach us the process so it was repeatable and doable for us as a team.
— Angela Morganthal, Financial Manager, C.F. Smith Property Group
About C.F. Smith Property Group
Founded in 1964 by Claude F. Smith and headquartered in Pinehurst, North Carolina, C.F. Smith Property Group is a private, family-owned commercial real estate firm specializing in the development, investment, brokerage, and management of retail real estate assets. Now in its third generation of family leadership under CEO Neil Robinette, the company has built a legacy spanning more than 60 years.
Today, C.F. Smith manages a portfolio of 100 retail properties totaling more than 10 million square feet across 23 states, representing approximately $500 million in retail real estate holdings. The firm has developed notable projects including 65+ Advance Auto Parts and Carquest stores, multiple Lowe's Home Improvement locations, and shopping centers anchored by national retailers.
The Challenge
Managing CAM (Common Area Maintenance) reconciliation across a growing portfolio of retail properties presents a significant administrative burden. Each new property acquisition or development requires careful configuration of recovery pools, expense allocations, and tenant-specific billing parameters within Yardi.
- Global CAM configuration must align with the organization's overall recovery methodology and reporting requirements
- Property-level setups require understanding of each asset's unique expense pools and tenant mix
- Amendment-level configurations must accurately reflect lease terms, caps, and exclusions for each tenant
- Recovery pool structures need to correctly allocate expenses across tenants based on square footage and lease provisions
C.F. Smith needed a partner who could handle these detailed configurations efficiently, freeing internal staff to focus on higher-value activities like tenant relationships and deal execution.
The BC Solutions Approach
BC Solutions established an ongoing partnership with C.F. Smith Property Group to provide CAM setup services as new properties are onboarded to the portfolio. Alex Doggett leads the engagement, bringing deep expertise in Yardi commercial property management and CAM reconciliation configuration.
Rather than a one-time implementation, this engagement operates as a recurring service relationship. When C.F. Smith acquires or develops a new property, BC Solutions handles the complete CAM setup process:
Global CAM Setup
Establishing organization-wide recovery parameters and methodology
Property-Level CAM Setup
Configuring expense pools, recovery categories, and property-specific parameters
Amendment-Level CAM Setup
Building tenant-specific recovery configurations based on lease abstracts
Recovery Pool Configuration
Structuring pools to properly allocate expenses across the tenant base
GL Mapping
Connecting recovery setups to the appropriate general ledger accounts
Abstraction Support
Assisting with lease abstraction logic and square footage calculations
This partnership model allows C.F. Smith to scale their portfolio without proportionally scaling their administrative overhead. Each new property is configured correctly from day one, ensuring accurate tenant billings and year-end reconciliations.
The Results
The ongoing partnership between BC Solutions and C.F. Smith Property Group has delivered meaningful operational benefits:
Faster Onboarding
New properties configured and ready without internal bottlenecks
Reduced Burden
Staff focus on tenant relationships and deal execution
Configuration Accuracy
Expert setup ensures correct CAM calculations from the start
Scalable Growth
Service model grows with portfolio without adding headcount
Why It Matters
The C.F. Smith engagement illustrates a different model of client partnership - one built around recurring, specialized services rather than one-time implementations. Several aspects make this relationship noteworthy:
Enabling growth without overhead.
For an actively growing firm, each new property adds administrative complexity. By outsourcing CAM configuration to BC Solutions, C.F. Smith can pursue acquisitions and developments without worrying about whether their back-office can keep pace.
Specialized expertise on demand.
CAM reconciliation is one of the most complex areas of commercial property management. Rather than developing and maintaining this expertise in-house, C.F. Smith accesses it through BC Solutions when needed - getting specialist-level work without specialist-level payroll.
Long-term partnership value.
This isn't a project with a defined end date - it's an ongoing relationship that deepens over time. BC Solutions develops institutional knowledge of C.F. Smith's portfolio, preferences, and processes, making each subsequent engagement more efficient.
Focus on core competencies.
C.F. Smith's competitive advantage lies in identifying great retail sites, building relationships with national tenants, and executing development projects on time. This partnership lets them stay focused on what they do best.
Looking for a partner to support your portfolio growth?
Contact BC Solutions to discuss how our recurring support services can help your team scale.