All Forum Posts by: Sam Watson

Does anyone have any good examples of converting a flex space (15% to 95% office with the remainder as industrial/warehouse) into office space? Assuming one would have to convert roll up doors into large windows, convert loading docks to parking, likely blow out office ceiling to match industrial clear height, among other modernizations. 

If so, where was your project, what renovations were made and how much did they cost, and what was the return on cost goal/target percent (if the goal was a different metric, then what was that) and why (RoC assumed to be defined as achieved rent increase/renovation cost)? 

More helpful details would include the rental rates before and after the renovation, and possibly purchase and exit prices in order to find a total profit number (sale price-renovation cost-purchase price). The timeframe of the project would also be helpful, or any other context you could give. 

Does anyone know of any mortgage brokerage companies in Charlotte, NC? Help!

what is your question I'm confused 

So if I understand correctly: the tenant bears some of the fee burden in build to suit, whereas a fee development deal puts more of the fee burden on the landowner? But otherwise they are essentially the same? 

From a CRE developer standpoint, I am wondering whether a build-to-suit development deal is the same thing as a fee development deal, or whether they are different. Thanks in advance!

Sounds like a great project! Looking forward to hearing more 

Thanks Chris! I wasn't really set on doing this, but I just wanted to compare the returns of the two scenarios. Definitely not something I will be taking on any time soon, just curious.

I am interested in projecting the returns of an investment involving the acquisition of an apartment building and subsequent conversion of the rental units into condos over time. I would really like to see how others have organized a model like this.

Thanks!

Someone please help me with a conceptual analysis of the impact of affordable housing properties on nearby property values/rent potential:

Suppose I'm interested in a 4plex property whose location seems to be just outside of a growth path along a primary artery in an urban market. After analyzing the particular pocket of the submarket, I notice there are properties owned by a neighborhood association and by a housing authority (say, within 0.5 miles of the subject property). What are the effects of these agencies' ownership of the nearby properties on the value and rent potential of the subject property?

In other words, if nearby rents are increasing and moving into the path of a certain property, would the nearby housing authority/ neighborhood association refuse to increase rents in accordance with the market and block growth? Would they refuse to sell the properties to redevelopment firms for value add or to be willing to relocate to a location more suited for the income/work proximity of its tenants? Or are these agencies very adamant about staying on their properties and making them stay affordable, despite the deadweight loss produced by prohibiting value creation and loss of potential tax revenue?

Will my subject property likely not yield the returns I expect due to neighboring affordable housing agencies pushing against market forces? Am I looking at this the right way?

@David Jiang I just realized you asked the question quite some time ago. Hopefully you have gotten some answers by now, but if not, there you go.