Managing Commercial Real Estate Development Projects

1. Managing Commercial Real Estate DevelopmentProjects Managing Real Estate Development Projects Real estate development projects have many moving pieces; the project manager guides and aligns resources to bring those pieces together into a coherent, financially successful whole. To develop critical project management skills, you will work through a case study and learn how to think like a project manager with guidance from Brad Well stead, experienced former real estate development project manager and Cornell University faculty member. The practical tools and techniques you learn will allow you to confidently create a project schedule, set a realistic budget, and effectively manage resources, risks, and people. View MoreDetails A local investor bought these two five-story East Village walk-ups, totalling 14,900 square feet with 50 feet of frontage. They offer 16 two-bedroom apartments, which are mostly free-market, as well as three retail spaces occupied by a computer store, Handsome Dan’s candy shop and Uogashi, a Japanese restaurant. The building, in the same hands since 1980, sold in an all-cash transaction within two weeks. Air rights come to about 5,000 squarefeet. An investor can purchase a small retail space or storage center directly or through a private partnership, but the down payment requirements tend to be much higher than for residential properties: think 30% at least. Real estate limited partnerships are another option, though these also often require a considerableinvestment. Close Content engaging our readers now, with additional prominence accorded if the story is rapidly gaining attention. Our WSJ algorithm comprises 30% page views, 20% Facebook, 20% Twitter, 20% email shares and 10% comments. However, the contribution to Europe's economy in 2012 can be estimated at around €285 billion according to EPRA and INREV, not to mention social benefits of an efficient real estate sector. It is estimated that commercial property is responsible for securing around 4 million jobs across Europe. When an electrical outage conspires with freezing temperatures, your building is damaged by water flowing from burst pipes. Business property insurance can help repair buildings and equipment damaged by vandalism, fires, hailstorms or other coveredevents. The term commercial property (also called commercial real estate, investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial property includes office buildings, industrial property, medical centers, hotels, malls, retail stores, farm land, multifamily housing buildings, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and taxpurposes.

2. Plan a financially feasible development project using the real estate development process. Create a real estate development project schedule, budget, and process for managing resources and risks. Develop a real estate investment strategy, estimate profitability, and choose the best way to raise capital. Structure private equity and debt financing to maximize returns on real estate investment deals. Maintain commercial real estate properties Hattiesburgusing best practices in facilities and tenancy management. Develop a real estate asset management strategic plan to meet or exceed ownergoals. Article Source: http://www.imfaceplate.com/richardm82/managing-commercial-real-estate- development-projects