ACQUISITION SERVICES

There is now a massive shift in ownership of assets to new "third owners"

As banks ("second owners") wind down their foreclosure activity on projects, Atlanta has attracted national and international buyers of their assets --- from builders to a wide array of investors.

It is truly BUYER BEWARE, in acquiring "someone else's project" --- with little knowledge of its history!  Much like a “CSI” case, “forensic” engineering and development investigation is needed to disclose a property’s entitlements, encumbrances, pending city/county actions, environmental or other liabilities [just waiting for a new “deep-pockets” owner] .  This insight and advice is crucial before closing.  

There is nothing like having "been there" in projects similar to the one being acquired.  From the broad experience in every step of the development of over 13,000 residential lots, Jim Garrigus brings to the acquisition effort a special intuitive awareness --- in walking a site with "history;" reviewing documents and entitlements; and asking the right questions of the agencies and others involved in the past.  


Acquisition services have included: 

Assistance with property search and feasibility determination
Development capacity, competing projects & status in the market
Zoning, land use and other development restrictions

Due-diligence coordination --- critically important in projects with “history”
As both a developer and engineer, Jim Garrigus knows “all the questions to ask”
Determine if any hidden environmental issues and liability exposure

Re-work the project’s plan to fit the NEW MARKET to fix mistakes in prior land planning
What “worked” in 2005 may well not work in the next market!
May be the need and opportunity to work with motivated jurisdictions to re-work the plan
Access to pre-eminent land planning and marketing advice


Advisory services have been provided to St. Bourke/Drapac Capital Partners, a major investor from Australia, in the acquisition process of several major projects.  These services have included a detailed walk through the  properties (lots and raw land); obtaining and review of permit plans and zoning conditions/entitlements; meetings with county planners and prior project engineer; confirmation of utilitiey services; seismic and test pit studies for subsurface conditions/rock; construction cost estimates to complete lots and infrastructure; and a complete re-layout of a 768-lot land plan for significant improvements in lot value and development costs, and to better reflect the future market.