|Target Markets||New England, East Coast - Core Urban & Suburban Markets
|Property Types||Mixed-Use, Multi-Family, Retail
|Project Cost||$20 million+
|Stage of Project||Existing sites must be owned or under-control by Sponsor. Greater attention will be given to projects with significant pre-development & where permitting / approvals are complete or near complete.
|What We Do||- We match your project with a reputable & capable Co-Developer from within our network.
- We only bring Developers with a proven track record to the table.
- We introduce those parties to the project and establish dialogue.
- We provide advice & counsel throughout the process to structure a mutually satisfactory Joint Venture Agreement.
- We arrange construction financing for the project.
|What We Don't||- Under this program we do not provide passive equity. Our Co-Developers are well-capitalized and will either be providing equity from their own balance sheet or from sources they already have relationships with.
|Ideal For||- Property owners and/or opportunistic developers who own/control desirable property and wish to participate in the future upside by maintaining an ongoing interest rather than selling.
- Property owners who don't have the required equity to commence construction of the project.
- Property owners who want to mitigate development risk by bringing in a partner.
- Property Owners whose balance sheet may not be satisfactory to construction lenders in relation to the scope of the project.
- Property owners who have a well-conceived project, but may not have an adequate track record in that niche and thus cannot obtain passive equity or construction financing without a partner.
- Property owners who are looking for a proven partner to bring capital, resources and expertise to the project in order to improve execution and maximize value.
|Stucture||Equity interests / %'s are negotiated up front and typically valued based upon existing equity in the property combined with any "value creation" achieved via permitting, approvals and $ spent to date.
|Control||Existing Sponsor/Property Owners typically become minority partners in the project going forward. All major decisions will be controlled by the new Co-Developer and outlined in the operating and partnership agreements.