Brokerage of Record Aterra Real Estate Partners, LLC Licensed Florida real estate brokerage · Fort Lauderdale, Florida. Rook is the professional brand of Spencer Bomstein, a licensed Florida real estate sales associate (license SL3433067). All representation described on this page is a real estate brokerage service performed through, and supervised by, Aterra Real Estate Partners, LLC. Rook is not a brokerage.
The Thesis

The active side is a different job.

A listing is defensive work: the property exists, the price is set, the job is exposure. The active side is the opposite. Nothing has been chosen, and a wrong answer is carried for the life of a lease or a hold.

A research job wearing a broker’s license. Rook does it as one.

  • Screen, not tour Candidates are eliminated on paper, before anyone gets in a car.
  • Underwrite, not adjectives Every surviving candidate arrives with the math attached.
  • Off-market included Not limited to what someone already chose to list.
Structural Position

Rook does not take listings.

Not office. Not retail. Not industrial. Not land. Not investment sales.

  • No listing agreements
  • No landlord representation
  • No seller representation
  • No disposition assignments
  • No principal positions in client transactions

A broker who works both sides manages a permanent tension: you want the lowest effective rent, and the other side pays the person negotiating it. Rook is never in that position. Holding no inventory, Rook has no property it is motivated to put you in.


A commitment about Rook’s own practice. Other licensees of Aterra Real Estate Partners, LLC may represent either side of transactions in which Rook plays no part; where that touches your candidate set it is disclosed to you in writing. See Brokerage Relationship.

Three Lines

Three lines. One method.

Each is an active-side search with an underwrite behind it.

Tenant Representation

Who it is for
Operators opening, relocating, or expanding; companies with a lease expiring.
What Rook does
Writes the requirement, builds a universe wider than the feed, eliminates most of it on paper.
What you get
An occupancy-cost model on every finalist, and a walk-away set before the first counter.
The full deliverable set
  • Screened candidate set, each rejection reasoned
  • Occupancy-cost model — base rent, escalations, CAM, free rent, improvement allowance, effective rate
  • Build-out and delivery-condition read on each finalist
  • Letter of intent, transmitted through the brokerage
  • Lease-comment memo for your attorney — business terms, not legal advice

Buyer & Investor Representation

Who it is for
Private investors, family offices, sponsors, funds, 1031 buyers, and owner-users.
What Rook does
Writes the buy box, sources listed inventory and owners directly, underwrites each candidate before it is pursued rather than after.
What you get
A full acquisition underwrite, and a Broker Opinion of Value that says what to offer and why that number.
The full deliverable set
  • Sourced pipeline, a stated disposition on each candidate
  • Acquisition underwrite — sources and uses, stabilized cash flow, debt sizing, sensitivities, closing costs
  • Offer and counter-strategy, walk-away set in advance
  • Letter of intent and, where engaged, the lender package
  • Due-diligence request list and tracked calendar

Site Selection & Feasibility

Who it is for
Developers with a program and no site; corporate users placing a facility.
What Rook does
Screens land and redevelopment candidates against the program, runs highest-and-best-use across the alternatives, prices entitlement risk.
What you get
A written feasibility position your capital source can read, and buy-side representation on the chosen site.
The full deliverable set
  • Program-to-site fit criteria in writing
  • Screened site inventory, disqualifying constraint named on each rejected parcel
  • Yield-on-cost by site, at stated hard- and soft-cost assumptions
  • Entitlement-risk read — zoning, density, height, parking, concurrency, calendar
  • Residual land value — what the parcel is worth to this program
  • Feasibility position, buy-side offer strategy, and letter of intent
The Engine

Ten disciplines. One search.

Each discipline, and what it decides in your search.

Underwriting Modeled before the offer is priced.
Market Analysis The band the submarket supports.
Valuation & BOV What to offer, not what is asked.
Highest & Best Use Which program the parcel supports.
Portfolio Analytics Rent roll and rollover, stressed early.
Occupancy & Lease Economics Effective rent across the full term.
Investor Materials Prep What the capital partner reads.
Syndication Structuring The vehicle, when equity is raised.
Debt & Lender Packages Financing off the model that priced the offer.
LOI Drafting What the search resolves into.
See the ten practice areas
Engagement Flow — Representation

Six steps. In this order.

A requirement, a search, a transaction. The analysis track’s three-step flow is on the home page.

i · Requirement

A working session ending in a written requirement or buy box. Nothing is searched for until it is defined.

ii · Engagement

The representation agreement is signed through Aterra Real Estate Partners, LLC. The brokerage relationship, its scope, its term, and the compensation arrangement are established in writing before any search work begins.

iii · Sourcing

Listed inventory, direct owner contact, sublease and assignment, off-market conversations. Wider than the feed, on purpose.

iv · Screen & Underwrite

Candidates are eliminated on paper, the reason recorded. Survivors are modeled. This is the step other searches skip.

v · Tour & Negotiate

Finalists only. Terms negotiated against a modeled position with a walk-away set in advance, then the letter of intent goes out through the brokerage.

vi · Contract to Close

Diligence calendar tracked, lender package prepared where engaged, business-term comments to your attorney, file carried to closing or lease commencement.

Engagement Criteria

No transaction-size minimum.

The analysis track carries a $1,000,000 aggregate minimum; representation does not. Rook screens for seriousness, not size.

Four more, settled at engagement
  • Exclusivity, in writing. Exclusive for the defined requirement and its term.
  • Geography. Florida. Requirements elsewhere are referred out through the brokerage.
  • A real timeline. A target date, a lease expiration, or an exchange clock.
  • Confidentiality. Requirements are not shopped. Identity disclosed only as needed to transact.
Compensation

How representation is paid for.

Representation is a brokerage service, performed by Spencer Bomstein as a licensed Florida real estate sales associate (license SL3433067) through Aterra Real Estate Partners, LLC. All brokerage compensation is paid to and through that brokerage, never to Rook.

How representation and analytical work are compensated
Engagement Who customarily pays What you pay When it is earned
Tenant representation Landlord, customarily Customarily nothing directly Lease execution, per the written agreement
Buyer & investor representation Seller, customarily Customarily nothing directly Closing, per the written agreement
Site selection & acquisition Seller, customarily, where offered Nothing directly, or as agreed in writing Closing, per the written agreement
Analytical work product You Fixed fee, quoted before work begins Per the Master Services Agreement

“Customarily” is doing real work in that table. It describes common market practice — not a promise, and not true of every property, owner, or transaction.

Real estate compensation is negotiable in every transaction. It is not set by law, by rule, by any association, by any multiple listing service, or by anyone other than the parties to the specific written agreement. No rate is standard and none is quoted on this page. Your arrangement is established in writing with the brokerage at engagement, before search work begins.

When the other side offers less

Where an owner offers the active-side representative nothing, or less than the engagement requires, that is disclosed to you in writing and the arrangement for that transaction is agreed in writing before you proceed. No candidate is quietly dropped, or quietly favored, over what the other side is offering. Advisory fees and brokerage compensation are always stated separately and never blended.

Brokerage Relationship

Established in writing, at engagement.

Under Florida law, a licensee is presumed to be operating as a transaction broker unless a single agent relationship or a no-brokerage relationship is established, in writing, with the customer. Nothing on this page establishes one.

The relationship, its duties, its scope, and its term are set out in a written agreement with Aterra Real Estate Partners, LLC at the time of engagement, when the required Florida brokerage relationship disclosures are provided.

That Rook does not take listings and does not represent landlords or sellers is a statement about the structure of Rook’s practice. It is not a description of statutory duties and does not by itself create any brokerage relationship.

Standard of Work

What the output looks like.

Four illustrative packages, built on invented clients and invented sites. Client figures are fabricated; market data is sourced and cited.

Rook does not publish client work as an example — not named, not anonymized, not redacted. That is why these exist.

Start with the requirement.

The first conversation is about what the space, asset, or site has to do.

Send a representation inquiry