DEVELOPMENT MANAGEMENT

Gravitas specializes in projects that have development, entitlement, and/or construction components that require highly skilled development management. With the current real estate environment, many firms cite expertise in these areas but they lack the experience and foresight needed to control the construction process to maximize returns for property owners, institutional investors, and private equity partners. The Gravitas development, construction, and urban planning focus gives us a distinct advantage when managing and developing complex projects, and we are positioned to leverage our knowledge to generate value on projects throughout the development cycle — from preliminary feasibility studies and acquisitions, to sales and disposition.

Gravitas seeks capital partners who share the company’s approach to commercial real estate development, from identifying undervalued properties with significant upside potential, to repositioning projects into the local community, to operating each property to maximize tenant satisfaction and ROI. Such an approach allows Gravitas and its partners to capitalize on short- to medium-term returns as well as long-term value.

Gravitas capital partners also benefit from the company’s expertise in local markets, the streamlined decision making structure of the executive team and substantial capital reserves. All of which give Gravitas the ability to act quickly when favorable opportunities present themselves.

Financial Support – assist in the identification of various forms of traditional and non-traditional financing sources and then evaluate and analyze each of the options. Emphasis here is placed upon modeling each of the different options to maximize financial returns.

Feasibility Studies – preparation of comprehensive feasibility reports that include market research, detailed financial analysis, entitlement summaries, and justification for go/no go decisions. These reports are often used for decision making and reporting to various partners such as equity, banks, and appraisers.

Pro Forma & Budget Development – creating and constant modification of the project proforma and development budget is a specialty of Gravitas. We have the ability to succinctly evaluate the financial merits of even the most complicated development projects and give clients working models for continued use. 

Entitlements & Master Planning – complete project management of the complicated entitlement process which includes not only entitlement research and evaluation, but integrated leadership of the various parties involved in the entitlement process, such as land use attorneys, architects, City staff, and project partners. Gravitas is particularly unique in its ability to transfer the entitlement information to the proforma analysis and create land use plans that best balance the goals and objectives of its clients.

Implementation – full service development management for clients which seek to hand off the development related activities. Tasks include overall project and team coordination, investor and client reporting, and complex decision making authority on behalf of clients as a fiduciary.

Approvals & Permits – aid in the interaction with City departmental staff and various design team professionals to adequately secure the necessary project approvals and permits. Often we find that project manager intervention is needed to facilitate the timely coordination of approvals with the City and that the design team alone might not have all the information or urgency to do it alone.

Design Team Selection – assist in the sourcing and evaluation of the critical team members for each development project. Process can include creation of a full RFP period for selection or just leveraging the deep relationships of the Gravitas partners to create a design team capable of implementing the project’s goals and objectives.

Peer Review Analysis – review of existing documents, systems, processes, and materials for clients who might need a peer review of an existing partner, or in situations where a particular partner or vendor might have been relinquished of their duties or is unable to continue on with the project.

Bonding Determination – coordination with the contractors and sureties to review and arrange for various different bond structures to protect ownership and ensure ongoing payment and support of the project.

Public Agencies Management – coordinate with all public agencies having jurisdiction to make sure that all proper and legal avenues are taken when obtaining permits and approvals. We will work closely with city plan checkers during the design process and city inspectors during the construction process.

Payment Requisitions – processing of pay applications, integration with banking draws, management of supporting documents, and reporting to the ownership entity in a periodic capacity.

Cash Flow Management – in conjunction with budgetary management, Gravitas is capable of managing the cash flow and draw schedules for a project. This service can range from general oversight and direction as to timing the cash with request, and move all the way to full control of the project’s cash management in a fiduciary position. 

Sales & Marketing Support – identification of competent and appropriate sales team and strategies to be used for the project. Particular importance is placed upon helping the client devise a sales / marketing strategy which helps the project differentiate itself from the competition and attract the right type of customer to the sales team.

Leasing Negotiation & Oversight – in addition to sourcing and procuring various potential tenants, Gravitas can assist in the negotiations with said tenants to help facilitate the timely execution of each lease. Often we find that having a 3rd party intermediary is just the solution on sticky business points and legal items for each side.