End User: RE Transaction Sub-Module Walkthrough

The RE Transaction sub-module follows this general workflow:

1. A Transaction Manager or Lease Administrator will create the initial transaction and scenario.

2. A Transaction Manager or Lease Administrator will create additional scenarios and link them to the transaction.

3. A Transaction Manager will add relevant data to the transaction, such as:

   • contacts involved in the decision-making process for the transaction or scenario

   • a deal step schedule

   • transaction documents

4. The Lease Administrator will add relevant data to each scenario, such as:

   • contacts involved in the decision-making process for the transaction or scenario

   • a deal step schedule

   • documents related to the site or contract

   • data about the site, area and demographic information, and financial information

5. The Transaction Manager or Lease Administrator will compare each scenario and determine which scenario to select

6. The Transaction Manager or Lease Administrator will set one scenario to selected, and set all other scenarios to not selected

7. The Lease Administrator will take the appropriate next steps, depending on which decision is made

   At this time, you cannot create a new entity based on a RE scenario. Selecting a scenario in the RE Transaction sub-module will not impact the contract or site record—you will need to proceed with your normal business process in Lucernex.

   Important!

   Once a RE Transaction's status has been set to Complete:

   1. No additional scenarios can be added to the transaction. Completed transactions no longer appear in the list layout in the RE Transaction Wizard.

   2. Only Scenarios with a status of Selected appear in the list layout at the top of the RE Scenario tab.

   3. For historical purposes, you can view non-selected scenarios in the embedded list layout for the transaction on the RE Transaction tab.

There are three ways of creating a real estate transaction:

1. From the Terms or Covenants pages of a RE Contract,

2. From the Site Summary page, or

3. From the RE Scenario tab, if you want to create a transaction based on a site.

Transactions can have a one-to-many ratio with scenarios. Each scenario represents a different option under consideration for the transaction. For example, as you near the end of your original term on a contract, you will have to decide whether to renew your lease or find a different location to lease.

Once you've created your initial transaction and scenario, create additional scenarios using the same method. However, select the Use Existing RE Transaction? check box and select the transaction you want to link the scenario to.

Add data relevant to the decision-making process to each scenario.

The Contacts sub-section of the RE Transaction and RE Scenario tabs is where you can add people that are involved in the decision-making process for the transaction or scenario. There are three ways to add contacts:

1. You can select from all members and contacts that are in the firm,

2. You can select from members and contacts that have been added to a transaction or scenario previously, or

3. You can add a contact that does not exist in your firm.

Contacts that are added using the third method are not added to the firm. They are only added for RE transactions and scenarios. This type of contact can also be added to Lucernex by a user with the proper permissions using the Manage RE Transaction Contacts tool.

Your Deal Steps Schedule is similar to a punch list—it is a list of tasks that need to be completed before a decision can be made. The deal steps used by your company have been customized by your System Administrator.

The Deal Steps sub-sections of the RE Transaction and RE Scenario tabs do not impact one another, because the tasks that must be completed by the Transaction Manager are usually separate and distinct from the tasks that must be completed by the Lease Administrator. However, despite being separate records, they share the same user interface and functionality.

To manage your deal steps:

1. Apply the Deal Step Schedule template specified by your System Administrator.

2. Proceed through each step in the schedule as directed by your manager.

   Each schedule template is unique to the company that created it. If you have questions about a particular step, contact your manager. If you have a question about the Deal Step Schedule functionality, see Manage Deal Steps - Portfolio Module.

Similar to the Deal Steps Schedule, the documents on the transaction are separate and distinct from the documents on each scenario. On the RE Transaction tab, the Document Management sub-section uses the folder structure of the parent portfolio. On the RE Scenario tab, the Document Management sub-section uses the folder structure of the site or contract. When you add a document from the linked entities to the transaction or scenario, they are linked—they are not copied or moved.

The reason this tool is configured in this way is that on the transaction-level, there may be documents that apply to all scenarios related to the transaction. At the scenario-level there are only documents which are specific to that particular scenario. Learn how to manage your transaction / scenario documents.

At this time, you cannot create a new entity based on a RE scenario. Selecting a scenario in the RE Transaction sub-module will not impact the contract or site record—you will need to proceed with your normal business process in Lucernex.

Once your team has determined which scenario you will select:

1. Navigate to Portfolio > RE Transaction > RE Scenario.

2. Select the scenario you want to select from the list at the top of the page.

3. Select Selected from the Decision Status in the Deal Info section.

4. Enter the date the decision was made in the Decision Date field.

5. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

6. Select one of the scenarios you did not select from the list at the top of the page.

7. Select Not Selected from the Decision Status in the Deal Info section.

8. Enter the date the decision was made in the Decision Date field.

9. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

10. Repeat steps 6-9 as necessary.

11. Choose the appropriate option:

    • Extend your existing RE Contract.

    • Create a new RE Contract.

    • Convert your Site to a new Project.