Acquisition
Acquisition and development (A&D) in the real estate industry involve the process of acquiring land or existing properties and developing them into profitable projects. This process requires a strategic approach that encompasses various aspects, including financial analysis, due diligence, and project planning. Services provided include:
- Market Research and Analysis
- Define Investment Criteria
- Financial Modeling
- Due Diligence
- Negotiation and Purchase Agreement
- Financing
- Closing
- Traffic Impact Analysis (TIA)
- Historical Preservation Approvals
- Community and Public Hearings
- Affordable Housing Compliance
- Concurrency Approvals
- Stormwater Management Approvals
- Signage Approvals
- Final Plat Approval
Development
In part, Ascension REP has achieved its success by earning the opportunity to enter into multiple joint ventures with national, regional and local investors and developers. Ascension REPs’ partners have varied from the private owner and individual investor to institutional investors, including insurance companies, pension funds and real estate investment trusts. As a result of its property development track record, Ascension Real Estate Partners offers its clients the unique benefit of managing projects with a commercial property owner’s perspective and commitment.
- Project Planning:
- Develop a detailed project plan that outlines the scope, timeline, and budget for the development.
- Engage with architects, engineers, and other professionals to create design concepts. - Entitlements:
- Obtain necessary entitlements and approvals from local government authorities.
- Navigate the regulatory process, including zoning approvals, environmental impact assessments, and community engagement. - Design and Construction:
- Finalize architectural and engineering plans.
- Hire contractors and oversee the construction process, ensuring compliance with building codes and quality standards. - Project Financing:
- Secure financing for the development phase, considering construction loans and other funding sources.
- Monitor budget and expenses throughout the construction process. - Marketing and Sales/Leasing:
- Develop a marketing strategy to promote the project to potential buyers or tenants.
- Implement sales or leasing efforts to maximize returns upon project completion. - Quality Control:
- Implement quality control measures during construction to ensure that the development meets industry standards.
- Address any issues promptly to avoid delays and cost overruns. - Project Completion:
- Complete the development, obtaining final inspections and certificates of occupancy.
- Transition from construction to occupancy or sale. - Asset Management:
- Manage the property or project post-completion, overseeing ongoing operations, maintenance, and any required property management functions. - Exit Strategy:
- Determine the optimal exit strategy, whether it involves holding the property for long-term income, selling for capital gains, or another approach.
- Execute the exit strategy based on market conditions and investment goals.
Effective acquisition and development require a comprehensive understanding of the local real estate market, regulatory environment, and financial considerations. Working with a team of professionals, including real estate agents, attorneys, architects, and financial analysts, can help navigate the complexities of the acquisition and development process. Regularly reassess market conditions and adjust strategies accordingly to maximize the success of real estate projects.
