Asset evaluation protocol

@@ -12,13 +12,13 @@ status: active
audience: customer-woodfine
bcsc_class: current-fact
language_protocol: PROSE-TOPIC
last_edited: 2026-07-11
last_edited: 2026-08-26
editor: pointsav-engineering
paired_with: site-selection/asset-evaluation-protocol.es.md
cites: []
---

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.
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 qualification stage and establishes a reproducible basis for comparing candidate sites across geographies. Sites that clear the filter subsequently enter the Direct-Hold framework under the interest coverage discipline.

## Key takeaways

@@ -28,7 +28,7 @@ Woodfine's asset acquisition process begins with the [[co-location-investment-th

## Tier score as entry criterion

A site that does not reach the minimum tier threshold is not considered for acquisition, regardless of other characteristics. The threshold is binary at the screening stage: a site either qualifies for capital evaluation or it does not. This discipline prevents the evaluation process from beginning with advocacy for a preferred site and working backward to justify it.
A site that does not reach the minimum tier threshold is not considered for acquisition, regardless of other characteristics. The threshold is binary at the qualification stage: a site either qualifies for capital evaluation or it does not. This discipline prevents the evaluation process from beginning with advocacy for a preferred site and working backward to justify it.

The tier score is a necessary but not sufficient condition for acquisition. A site that passes the threshold enters capital evaluation; it does not receive a commitment.

@@ -48,7 +48,7 @@ The combined score across all three layers produces a tier classification from 1

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 Woodfine 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 standard.

## Capital evaluation

@@ -64,7 +64,7 @@ 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 Woodfine commits to an acquisition.
The Asset Evaluation Protocol disciplines the acquisition funnel by enforcing an objective, reproducible entry filter 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 qualification stage nor the capital evaluation stage can substitute for the other; both are required before Woodfine commits to an acquisition.

## See also