Represented client in a complex transaction involving the purchase of a tract of land adjacent to an airport and negotiating with the airport an access agreement, a ground lease, a road easement, and the sale to the airport of part of the purchased land. Represented private equity firm in the $210 million acquisition and leaseback of a portfolio of 5 office properties to an international life insurance company and the negotiation of a $136.5 million acquisition loan from a large institutional lender. Represent real estate fund in the acquisition of $57,800,000 commercial office complex in Norfolk, Virginia. After quantitative and qualitative comparisons of offers, negotiations come to a close often with a letter of intent, final recommendation, and a purchase and sale agreement. When working through a disposition with Allegro Real Estate Brokers & Advisors, you can expect to receive a property improvement list (to prepare the property for marketing) and a recommended listing price.
- Over the years, they invited others who possessed complimentary if not superior talents to join them as partners and co-leaders in the Coast Group of Companies.
- The business plan for a core plus asset is to generate stable cash flow for investors and increase the value of the asset over time.
- If our offer to purchase is accepted, we enter into contract with the seller, open escrow, and conduct final due diligence on the asset.
- For whatever reason, a potential buyer may be interested in the property, but unable to obtain financing from a third party lender.
- In most cases, organizations sell off property because it is no longer relevant or valuable to their overall business objectives.
No matter the size of your operation or the type of property you want to find, we can provide guidance informed by local perspectives from brokers and agents on the ground in four continents. To arrive at a deal with favorable terms, both buyer and seller must perform a thorough and complete due diligence analysis, otherwise known as launching a thorough investigation to uncover all aspects of the real property to be conveyed. The information obtained from the results of the due diligence act to identify significant issues, and where possible, provide estimates of the financial impact such issues may have on the asset. Thereby better informing the buyer or seller and either confirming or denying the deal’s viability, or leveraging the ability to renegotiate.
When the transaction is closed, funds are first used to pay off any outstanding loans and anything left over is distributed to investors. This list comprises potential buyers who are consistently updated about a wholesaler’s available properties. For instance, wholesalers typically target other investors, such as rehabbers or buy-and-hold investors. Chris Horsley joined Hokanson Companies, Inc. in 1997 while completing his degree in Civil Engineering at Purdue University. Chris began his employment at Hokanson Companies in the construction area and in 2000 added Property Management to his responsibilities. Now as President and Chief Operating Officer, he focuses his efforts on construction, development, and property/facility management.
Real Estate Acquisition and Dispositions
CEP brings an operator’s mentality to the table in its role as manager of these assets, something we call “asset management alpha”. We bring our experience from over 30 years in multifamily property management to drive the day to day operations and optimize the economic performance of these assets over time. The property value/asking price is agreed upon between the property owner and the brokerage acting as their representative in the transaction.
A national homebuilder in connection with the acquisition of numerous development sites throughout the Midwest. Development of mixed use commercial, hotel and residential project in downtown Chicago. Represented the developer in acquiring the site and amending an existing declaration of covenants, easements and restrictions to enable development of the project and in connection with the site plan approvals. The Presentation Sisters Union property sale in San Antonio, Tex., supported the sisters’ educational mission and provided funding for retirement. With a heart for missions Karin has most recently served on the Board of Hands for Peacemaking, a nonprofit that provides high efficiency wood burning stoves and clean water systems to the Mayan population in the highlands of Guatemala. Financial management support has also been provided to the Snohomish County Economic Alliance in its infancy along with a nonprofit football academy.
When it comes to commercial real estate acquisition and disposition due diligence analysis it helps to have a good checklist, and a good adviser. Navigating the sometimes murky waters of real property transactions can be complicated and risky when unprepared. In the first phase of CRE disposition, the seller works with an experienced real estate broker to prioritize objectives (timing, financial goals, perhaps environmental considerations) and outline an initial disposition strategy. At the same time, the seller and their advisor must determine the unsupportive asset’s position in the marketplace and consider potential pricing that aligns with current market conditions. In commercial real estate, the disposition process is the act of selling, subleasing, or conducting a lease buyout of commercial real estate property.
Not only is it essential to establish open lines of communication with these potential buyers, but there’s also the task of systematically adding them to the existing buyers list. Through the arc of history, technology has aided industries and their people through challenges by way of innovation. As the commercial real estate sector navigates headwinds presented by these market complexities, we as commercial real estate acquisition and disposition an industry must continue to embrace technological advancements as a way to learn, innovate and perform more optimally. Readily available data is crucial in today’s dynamic landscape of ever-evolving market conditions. Utilizing the most recent data offers a real-time understanding of the market and grants a competitive edge, instilling confidence in strategic planning and operational decisions.
Establish a Long-Term Real Estate Partnership With Hokanson
Don’t get discouraged if you lose your first few deals because you can’t find a buyer. This process is primarily driven by the need to monetize assets, either to reinvest in the business or clear existing debts. Often, properties are divested when they no longer align with a company’s core business objectives.
National and Chicago-based developers in connection with the acquisition, development, construction, leasing, financing and sale of shopping centers and retail properties throughout the United States. A private developer in connection with the acquisition and development https://adprun.net/ of a hotel property in Chicago and the post-construction sale of the completed hotel asset. A property owner in connection with the acquisition, development, financing, leasing and sale of a 1,600-acre air-industrial park located at a former decommissioned U.S.
For the seller, the major downside of financing the sale is that they may not receive a large cash payment at the time of closing. Instead, they will receive it in monthly payments over a long period of time, which can make it difficult to return investor funds. On the flip side, the seller earns interest on the “loan” and could actually end up earning a larger return over time, assuming the buyer doesn’t default on the loan. In most cases, this involves selecting a market and reviewing dozens of investment opportunities in it to find one that meets an investor’s criteria. For most investors, it makes sense to find 3-5 properties in this initial screen and to carry them into the second step of the investment lifecycle, underwriting the property.
Commercial Real Estate Attorneys
A recent article from Forbes notes research from Ariel Property Advisors that shows how remote work leads to significant drops in lease revenues and renewal rates, occupancy and market rents in the commercial office sector. The research stated a 43% decline in investment sales in New York City, primarily due to remote work. We advise property owners and developers, public and private companies, and portfolio investors in acquisitions, dispositions, and developments. We offer a pragmatic approach by asking the right questions, anticipate problems, reduce risks, and set the foundation for a successful project. Capital Realty Group’s expertise in the Denver and Houston markets makes us a perfect fit for your acquisitions and dispositions needs. Our team has performed due diligence on office, retail, and industrial spaces for sellers and buyers from small investments to portfolio purchases.
Handling & Progressing Buyer Inquiries & Leads
A publicly traded development company with respect to the acquisition of numerous sites for the development of major retail centers throughout the Midwest. A national restaurant chain in connection with the acquisition and sale-leaseback of restaurant sites throughout the country. A private investment group with respect to the acquisition of a boutique hotel property in Salzburg, Austria. An institutional lender in connection with the sale of a multi-state office portfolio acquired in connection with its borrower’s bankruptcy.
As a result of this expertise, the company has aided in the strategic acquisition and disposition of some of the nation’s most specialized, high-profile, and complicated sales –many being sold to international companies. If there is a building to be sold – anywhere in the world – Binswanger will get it in front of the right people, no matter where they are. Business strategies and market conditions often shift, resulting in a need for organizations to realign their real estate portfolio with business goals.
As a group, our lawyers have a wealth of practical experience which makes our team uniquely suited to advise you on the legal and business implications of owning and managing real property. We work with companies and sophisticated individual investors in connection with the acquisition, leveraging, repositioning, and disposition of real estate throughout the world. Every owner of commercial real estate assets needs to have a comprehensive strategy governing why and how real property is acquired, leveraged, used, and sold. Creating an effective strategy – and executing upon it – is the best way to maximize the value of your portfolio and the returns from your investment in it. However, sophisticated asset management planning is its own unique professional discipline and requires an intimate knowledge of the real estate industry, its players, products, opportunities, and risks.
Plante Moran Realpoint’s Sean Abelarde elected to the board of Leaders for Kids
We offload assets negatively affecting your growth and help you refocus on the investment properties with the most relevance to your current mission. Over the last nine decades, Binswanger has accumulated experience and success as only a multi-generational family business can. Since it was founded in the depths of the Great Depression, our company has grown into one of the most respected names in international real estate. At the completion of phase one, the seller should have a disposition strategy and action plan that clearly aligns with business objectives, a disposition timeline, and initial pricing estimates.