CWE has historically leased facilities for offices, classrooms, and other uses, typically under long-term arrangements. Leasing was consistent with a long-established strategy to comply with conservative government agency requirements for fiscal transparency and prudence.

Escalating rent for inefficient, outdated office space ledCWE to consider buying (vs. leasing) for the first time in its 30-year history.‍

Without success, our client had initially (independently) approached a private bank specializing in unions. Even with close connections to bank board members, the CWE couldn’t secure 100% financing for the acquisition of a 4^th floor condominium at 305 7th Avenue in Manhattan. Also, because the appraisal and purchase prices were essentially the same, no additional funds could be borrowed for renovations.

1. ThinkForward made the case for property ownership as acost-effective and operationally advantageous option.
2. We arranged for proceeds from $9.7M in tax-exempt bonds to beused to finance the acquisition and renovation of the CWE’s modern “best-fit”property.
3. Our client reconfigured their new space for optimaloperational efficiency and upgraded at minimal cost—ultimately, experiencing upto 33% reductions in occupancy costs per year.

The CWE is consistently meeting its high-performance standards, even under tight budgetary constraints, because of the favorable, fixed 30-year terms negotiated by ThinkForward. Our client can now count on predictable occupancy costs from year to year.

The private, nonprofit agency Consortium for Worker Education (CWE) provides a wide array of workforce preparation, industry-specific training, and employment services for 70,000+ NYC workers every year. Union members, new Americans, and dislocated workers number among the populations served by this essential service provider.