Life Cycle of An Asset
PHASE 1
Project Conception
& Acquisition
- Location Sourcing
- Underwriting
- Due Diligence
- B-Plan Development (scope and budget)
- LOI Negotiation
- Lender Relations & Debt Placement Support
- Closing Assistance
PHASE 2
Design / Entitlement
- Schematic design for marketing purposes
- Project Design Schedule
- Preliminary Contractor Budget
- City Planning Department meetings and submission to Planning
- Commission
- Interview and identify project brokerage team
PHASE 3
Project Development
- Design Development, including incorporation of conditions of approval
- Coordination with subcontractors to confirm projected budget conforms to final design
- Preparation of vendor RFPs, including architect and GC
- Coordination with the GC to establish project budget
PHASE 4
Project Execution
- Construction Management
- Construction Management
- Value Engineer where necessary
- Audit drawings & configurations
- Preparation & submission of loan draws to lender(s)
PHASE 5
Operations (Asset & Property Management)
- Obtain settlement statements and prepare balance sheet (for recently purchased properties)
- Prepare and implement real estate business plan
- Negotiate and contract for services
- Monitor and manage operating expenses
- Manage capital and tenant improvements
- Monthly and quarterly financial statements
- Monthly financial review including detailed variance reporting
- All actions taken support the valuation of the property pursuant to the asset business plan
PHASE 6
Disposition
- Prepare property for sale; physical plant and books and records
- Organize all documentation for sale and submittal to disposition “war” room
- Prepare property for tours and attend buyer meetings as required
- Be a resource to buyers by assisting in the sales process for the benefit of seller
- Prepare estoppals for review and delivery to tenants
- Create final “closing” report on close of escrow