Acquisition Process

Review and Assess Client Objectives

• Determine the financial goals of the Investor

• Evaluate the financial resources of the Investor

• Thoroughly discuss the acquisition objectives

• Review the protocol for decision making and legal representation

• What are the investment criteria including returns, product type,location and single-tenant or multi-tenant preferences

• Develop anticipated timelines for acquisition

• Review capital structure and  financing arrangements

Property Identification/Site Selection

• Identify prospective investment opportunities and prepare a comprehensive Investment/Site Selection Package:

  • Property Details

  • Location and site information

  • Investment analysis

  • Photographs and/or renderings

  • Area demographics

Preparation of Offers, Letters of Intent and Contract Negotiations

• Present offer or letter of intent.

• Prepare the counter offer, if necessary

• Negotiate all terms and conditions on behalf of the Buyer

• Review and negotiate final purchase document as required.

• Open escrow

Due Diligence and Closing Activities

• Arrange for any required third party reports

• Analyze financial data including operating statements, budgets and rent rolls

• Review all existing leases and contracts

• Review documentation of existing debt, if any

• Review building plans

• Assemble and confirm zoning and land use data

• Review covenants and restrictions

• Study title information and deed restrictions

• Review real estate taxes and assessments

• Monitor all timelines and contract requirements to close of escrow

Disposition Process

Review and Assess the Client Objectives

• Any ownership issues that exist that may affect the transfer

• The financial expectations of the seller

• Anticipated  time frame for disposition

• Restrictions, if any, affecting the marketing efforts

• Ownership’s position regarding financing

• Opportunities and constraints regarding a 1031 Exchange

Technical Review of the Property

• Analyze financial data including operating statements, budgets and rent rolls

• Review all existing leases and contracts

• Review documentation of existing debt

• Investigate competitive properties and perform a market analysis

• Review building plans

• Review the capital improvement plan (if any)

• Examine environmental reports and surveys to confirm that conclusions are fully supported

• Assemble and confirm zoning and land use data

• Review covenants and restrictions

• Study title information and deed restrictions

• Review real estate taxes and assessments

Sales Flyers and Sales Packages

• Executive summary, including unique property and location features

• Property profile

• Location and site plans

• Photographs

• Financial summaries, including actual operating statements, pro forma income statements and rent rolls

• Lease/rental summaries

• Market overview

• Competitive analysis and site map

• Area demographics

• Traffic counts

Marketing the Property

• Mass mailing and emailing of Property Flyers to howardcommercial’s proprietary database of targeted prospects;

• Electronic advertising of properties is coordinated through the following websites:

  • www.loopnet.com, the world’s largest most visited real estate Internet Web site, receiving 5 million hits per month;

  • www.costar.com, the #1 commercial real estate information website;

  • www.xceligent.com, the nation's leading provider of verified commercial real estate information; and

  • www.ccim.com, the most highly recognized and respected membership of investment brokers.

• Internet and direct e-mail promotionProperty signage (if appropriate)

• Site tours

Review of Offers, Letters of Intent and Contract Negotiations

• Qualify the buyer based on financial strength and commercial real estate history

• Review the offer or letter of intent terms and conditions

• Present the offer or letter of intent, along with the review comments to the Seller

• Prepare the counter offer, if necessary

• Prepare the draft of Seller’s standard Sales Agreement, if necessary

• Negotiate all terms and conditions on behalf of the Seller

• Open escrow

Due Diligence and Closing Activities

• Provide all necessary due diligence information to Buyer

• Answer Buyer questions regarding Property

• Stay in contact with back-up Buyers

• Monitor all timelines and contract requirements

• Track escrow process to assure timely receipt of all required documents

• Review title reports and closing documents

Reporting

• The number of telephone inquiries received

• The number of Property Flyers and Packages mailed

• The number of Property Flyers and Property Sales Packages distributed via e-mail or in person

• Property tours conducted

• Action steps required

• Planned activities