Stages of property ownership
Land acquisition, construction, occupancy, management, sale
Construction durations — office?
18-48 months
Development team members?
Architect, engineer, designer, manager, broker, consultants, lawyer, accountant, surveyor, financiers
Property development stages?
Land, construction, occupancy, sale.
Construction durations
Office: 18-48m, Retail: 6-48m, Multifamily: 6-24m, Industrial: 9-12m.
Core development team?
Architect, engineer, contractor, broker, consultant, legal, finance.
Development costs?
Soft, hard costs, finance, contingencies, profit, reserves.
Highest & best use criteria?
Physically possible, legally permissible, financially feasible, most productive.
Major development risks?
Cost overruns, delays, market downturns, poor workmanship, tenant issues.
Flow of funds?
Draw schedule aligns with construction milestones, lender reviews.
Answer 9 questions on Mastering Property Development Fundamentals.
1. Which of the following best describes the typical development timeline for retail properties?
2. What are the four criteria that must be satisfied for highest and best use of a property?
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