Asset evaluation protocol

@@ -1,8 +1,8 @@
---
schema: foundry-doc-v1
title: "Asset Evaluation Protocol"
title: "Asset evaluation protocol"
slug: asset-evaluation-protocol
short_description: "How the co-location ranking matrix drives WMC's commercial asset acquisition targeting: tier score as the entry criterion, independent GIS analysis as the verification method."
short_description: "How the co-location ranking matrix drives Woodfine's commercial asset acquisition targeting: tier score as the entry criterion, independent GIS analysis as the verification method."
category: site-selection
type: reference
content_type: topic
@@ -11,13 +11,13 @@ status: active
audience: customer-woodfine
bcsc_class: current-fact
language_protocol: PROSE-TOPIC
last_edited: 2026-05-25
last_edited: 2026-07-11
editor: pointsav-engineering
paired_with: site-selection/asset-evaluation-protocol.es.md
cites: []
---

WMC's asset acquisition process begins with the [[co-location-investment-thesis|co-location]] ranking matrix. A candidate site must achieve a minimum tier classification before capital evaluation proceeds. The tier score is the entry filter — it removes subjective judgment from the initial screening stage and establishes a reproducible basis for comparing candidate sites across geographies. Sites that pass the screen subsequently enter the Direct-Hold framework under the interest coverage discipline.
Woodfine's asset acquisition process begins with the [[co-location-investment-thesis|co-location]] ranking matrix. A candidate site must achieve a minimum tier classification before capital evaluation proceeds. The tier score is the entry filter — it removes subjective judgment from the initial screening stage and establishes a reproducible basis for comparing candidate sites across geographies. Sites that pass the screen subsequently enter the Direct-Hold framework under the interest coverage discipline.

## Key takeaways

@@ -41,13 +41,13 @@ The matrix evaluates three layers of anchor presence within defined catchment ra

**Tertiary civic infrastructure.** Hospitals and post-secondary institutions within 5 km. Civic anchors generate consistent, recession-resistant traffic that supplements retail-driven foot traffic. Their presence in the catchment radius contributes to the tier score but does not substitute for retail anchor presence.

The combined score across all three layers produces a tier classification from 1 to 5. WMC's current minimum threshold for capital evaluation is a tier-3 classification.
The combined score across all three layers produces a tier classification from 1 to 5. Woodfine's current minimum threshold for capital evaluation is a tier-3 classification.

## Independent verification

The matrix is reproducible by independent GIS analysis using publicly available retailer location data and civic facility coordinates. A site's tier score does not depend on WMC's internal assessment of market conditions; it depends on the presence or absence of specific operators and facilities within defined radii. An analyst applying the same matrix to the same data should reach the same classification for a given site.
The matrix is reproducible by independent GIS analysis using publicly available retailer location data and civic facility coordinates. A site's tier score does not depend on Woodfine's internal assessment of market conditions; it depends on the presence or absence of specific operators and facilities within defined radii. An analyst applying the same matrix to the same data should reach the same classification for a given site.

This reproducibility is not incidental — it is a design requirement. If the entry criterion depended on a judgment call that only WMC could make, the filter would not function as an objective screen.
This reproducibility is not incidental — it is a design requirement. If the entry criterion depended on a judgment call that only Woodfine could make, the filter would not function as an objective screen.

## Capital evaluation

@@ -63,7 +63,7 @@ Capital evaluation produces an investment recommendation; the tier score produce

## The bottom line

The Asset Evaluation Protocol disciplines the acquisition funnel by enforcing an objective, reproducible entry screen before any capital analysis begins. The tier score eliminates advocacy-driven deal origination: if a site does not independently qualify under the co-location matrix, evaluation does not proceed. Once a site clears the threshold, conventional capital analysis applies — property condition, lease structure, title, and debt service capacity are assessed on their own terms. Neither the screening stage nor the capital evaluation stage can substitute for the other; both are required before WMC commits to an acquisition.
The Asset Evaluation Protocol disciplines the acquisition funnel by enforcing an objective, reproducible entry screen before any capital analysis begins. The tier score eliminates advocacy-driven deal origination: if a site does not independently qualify under the co-location matrix, evaluation does not proceed. Once a site clears the threshold, conventional capital analysis applies — property condition, lease structure, title, and debt service capacity are assessed on their own terms. Neither the screening stage nor the capital evaluation stage can substitute for the other; both are required before Woodfine commits to an acquisition.

## See also