Urban Development Partners offers a complete scope of services in real estate development, distressed asset evaluation, acquisition services and asset management. Each project at Urban Development Partners benefits from more than 20 years of experience in real estate development and construction.
DEVELOPMENT SERVICES
Predevelopment:
- Market analysis and feasibility
- Acquisition
- Architectural and engineering coordination
- GMP / Construction bids
Construction:
- Scheduling
- Site inspection / construction conformance
- Architect and engineer oversight
- Value engineering
Sales and Leasing:
- Strategy assessment
- Sales and leasing team
- Property and Asset Management (In Partnership with The Argo Corporation):
- Full service property management
- Sales and leasing
- Hands on management strategy focused on long term value
ASSET EVALUATION AND ACQUISTION SERVICES
Site Inspection:
- State of completion
- Quality of work in place
- Value of work in place
- Site logistics/security
- Status of utility connections and service
Seal and Protect Stalled Construction Projects:
- Evaluate weather protection necessary to preserve mechanical and structural integrity
- Permit expiration review (building can require redesign if permits lapse)
- Protect property from vandalism
- Environmental concerns (mold)
Review of Construction Documents:
- Conformance with work in place
- Review of Addendums
- Zoning status
- Overview of Structural MEP and fire protection design
Review of Contractor Documents:
- Construction and GMP contracts
- Anticipated Cost Reports
- Lien releases and insurance certificates
- Trade contracts and Schedule of Values
- Requests for Information Log/Bulletins
- Schedule
- Outstanding payments to contractors
Review of Government Documents:
- Building Permits, Violations, and DOB Reconsiderations
- Construction sign offs
- Attorney General/Offering Plan
Financial Analysis:
- Estimates of cost and schedule to complete the project as designed
- Financial proforma based on lender’s payments to date and cost to complete
- Sensitivity analysis to illustrate yield based on cost to complete and a range of projected market revenues.
- An analysis to reposition based on current market conditions to include the estimated hard and soft costs associated with the repositioning.
Insurance and Risk Management:
- Examination of current insurance and risk transfer structure to determine if most appropriate and cost effective.
- Comprehensive review of all courrent project insurance policies to determine if issued correctly, overly broad exclusions or inconsistencies with propoesed coverage.
- Sreview Insurance requirements in construction and professional agreements and obtain evidence of compliance.
Review of Acquisition and Soft Costs Paid to Date:
- Environmental issues
- Payments to design consultants
- Marketing materials
- Real Estate Taxes
- Entitlement certificates
- Leasing and Sales commissions
- FF&E
- Inspections