Big deals - Lined up for developers/Need good contacts to complete deals

[Samuel Eastling]

Hi Everyone, 

I have three development deals that are very good prospects.  I want to share them with you all today and see what you think.  If I could find a developer/partner on BP that would be a dream come true as I've been on Bigger Pockets since I was in high school and I would love to work with people from the BP community.  

Here is some background:

I started with an acritcural firm as a real estate development associate.  We help churches across America design and build new spaces (design/acricture/construction).  However, we have found ourselves in an amazing opportunity to get into real estate development due to churches having excess land often in great locations that would otherwise be unavailable to the average developer.  We care first about how the development impacts the church and we want to serve the church.  Thankfully these churches would like to have another revenue source and we often find the developments to be very complimentary for the church.

All these churches would be open to selling the land/groundlease/JV depending on the developers goals and needs along with the specific church.

I have a church in Fort Worth, T.X. that has 3.14 acres that they are looking at putting a 100 unit senior living/multifamily property (3 stories).  The whole church campus is getting a huge redevopment with a new coffee shop/pickle ball courts/medical offices and there are new sidewalks that connect the property as one over arching beautiful development.  This is a great advantage for the multifamily developer as the entire area around them is getting a huge improvment.  The land as an approximate value of $750,000.  The development would be worth approximately $15,000,000 to $20,000,000.  

Another church in Joliet, I.L. has 10 acres and they have been looking at senior living however if a developer wanted to do market rate multifamily or even single family development the church would be open minded to building something else if the numbers made sense. This church again is getting a beautiful face lift and would help increase the overall value of the area and the property here would be worth approximately $350,000. The development depending on the product would be worth approximately $17,000,000 to $26,000,000

My final project I currently have is in Glendora, C.A. The church is consolidating their campuses and one of their campuses is open to new developments.  They have some housing (6 homes) on the property and in C.A. there is a requirment to replace any housing destroyed due to development with new housing so this property could be a mix-use property or perhaps a mutli-family property.  I don't currently have figures for the value of the proepty or the value of a potential development. However, if you do work in the C.A. area, I will be getting more information on this property soon and we can talk privately (comment below or PM me).

My company does desing/arcitectual/construction.  If you are an equity/debt partner or know one please feel free to reach out as we'd be happy to be heavily involved in these projects however we don't currently have the capital to complete these projects ourselves otherwise we probably would do most of it in house.

If you are a developer or know developers who might be interested please tag them and invite them to this conversation.  We are very happy to partner with developers and grow business as it is a win-win all around.

We are just getting into the development space so we will continue to have a lot more deals in future.  As of right now, I am looking at these three deals. There are dozens more churches that want to develop their land and even if these deals dont fit your criteria or standards let me know what you do and I will reach out and put you on my developer list as we get more deals I am happy to let everyone know what comes available as it very well might be something that fits your goals.

Thank you for looking through my current projects and comment with any questions or notes and I will follow this conversation closely and look forward to hopefully finding partners via BP.

Thank you,

Sam Eastling