Case Study: Dodson Development

Dodson Development contacted Bullpen to help restructure and capitalize one of their existing office developments. With a debt-heavy capital stack during construction, the project required a mixture of permanent debt and equity to stabilize. The complexity of the analysis required capital markets and modeling expertise that Dodson lacked in-house.

Bullpen’s Value

Dodson Development came to Bullpen with a need for institutional-level analyst support. Bullpen quickly connected Dodson with a qualified analyst to help re-structure their office development and create a professional model. The Bullpen analyst became familiar with Dodson’s business model and current investment pool, providing thoughtful insight into the restructuring. The analyst’s deep knowledge of the transaction allowed them to anticipate future needs before they arose. In addition to creating materials, Bullpen’s analyst worked directly with Dodson’s lenders and potential equity investors to answer questions and provide comfort around the deal.


Using Bullpen’s pool of institutional-quality freelance analysts, Dodson was able to confidently proceed with restructuring their office development. The new structure creates both value for both Dodson and investors while protecting downside. Happy with their support, Dodson continues to engage their Bullpen analyst on projects related to other transactions.

Duke Dodson


“Our Bullpen analyst gave us the confidence and expertise to re-structure our office development in an equitable manner for all stakeholders.”

Let's get started.

Bullpen is your connection to top commercial real estate talent.