Project Availability
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Locations
We like urban areas and usually with one to five acres of land with an improvement or partial improvement.
We are receptive to various population densities that surround the property. Public transportation should be within blocks of the subject property. Other housing, workplaces, retail, and or office buildings are acceptable. The immediate neighborhood should have some character and a friendly overall environment.
Guidelines
Additional requirements are as follows:
- Project must be over $1,000,000 and under $20,000,000 dollars overall project cost.
- Property types, Mix Use, Multifamily, Retail or Offices.
- Project must not have been stopped for construction issues.
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- Seller must be negotiable to buyers terms and conditions of the purchase agreement.
- Seller to provide must be able to provide all documentation associated with the project in advance.
- We work with Asset Managers that have Properties in Florida.
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Debt Service
Initially, the debt service payments of any redevelopment project are made from our gross funding requirement, we develop to complete the project. Our approach is similar to that of a SBA Rehab-Construction Loan. The payments are funded as the loan to complete the project.
After the project is completed and occupancy permit is obtained and business operations begin we look at the growth curve and develop the approximate date the project will begin to debt service the investor financing.
Therefore, we have also factored in the start-up cost and the up and running, time span to meet the debt service payments. The next step is to begin distribution of principal pay down and interest to the investors.
Interim Investor Benefits
An important part of the development process is the Tax shelter offsets. These include tax credits, carryovers and depreciation. These often can be transferred or sold if unused, for a cash return subject to state and federal guidelines at the time.
Risk Management and Insurance
In addition, we also utilize a Risk Management and Insurance approach with all potential development projects to insure completion. |