Three tasks can ensure your financing plan is on point when starting a redevelopment project.
The redevelopment of property is crucial to a community’s renewal and economic health. Naturally, commercial real estate professionals are in business to make a profit, but revitalizing a property and turning it into a revenue-generating piece of a neighborhood is a financial benefit to more than just the developer. Before a blighted property can be reinvigorated, though, you need the funds to acquire it. Acquisition can mean more than just taking the title — it can refer to a lease, lease-purchase, land lease, or multiple vehicles.
Projecting Expenditures and Revenue
First things first, in an acquisition, how much money will you need and where will it come from? If your redevelopment project will be 100 percent equity, that’s fantastic. But rarely is it so simple. If you need to include debt, know what you can afford. Click to read more at www.ccim.com.