Transit-Oriented Development Specialized Real Estate Services

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1 COLLIERS INTERNATIONAL Transit-Oriented Development Specialized Real Estate Services Accelerating success. Colliers International transit-oriented development GROUP P. 1

2 2 transit-oriented development group Colliers International

3 The Hub of Hubs Transit-Oriented development, or TOD, is an approach to development that focuses land uses around a transit station or within a transit corridor. The services needed for successful development are as varied as the types of development themselves. The Colliers Transit-Oriented Development Team leverages experience in delivering real estate strategies to the world s leading transit agencies, municipalities and investors to deliver executable development strategies that are grounded in market reality. Colliers International transit-oriented development GROUP 3

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5 Transit-Oriented Development Our Value Proposition Our team brings a market-driven perspective as to what really matters to businesses when determining capital investment decisions. We provide an objective opinion as to the assets and capabilities of the location, quickly aligning which development concepts are realistic to target for attraction and what tactics would be appropriate to leverage. We have an understanding of what demographic, psychographic, economic, and financial evaluations investors utilize to make investment decisions. Portfolio Analysis Economic Studies Psychographic Market Analysis Opportunity Analysis Capital Markets Analysis Site Selection Criteria Partnership Valuation Financial Model Development Detailed Due Diligence Strategy Development Closing Prepare Offering Materials Transaction Management Process Negotiation Terms Marketing Campaign Road Shows Investor Analysis Our Principles > > A diversity of land uses, including employment and common desitinations > > Higher levels of density appropriate to the community > > A mix of housing options and dedicated housing affordability > > Intermodal connectivity (pedestrian and bicycle connections, other transit) > > Green infrastructure and open space > > Low parking requirements and alternative to car ownership (e.g. Zipcar) > > High quality urban design and sense of place transit-oriented development GROUP 5

6 Capital Markets Services Colliers International - Atlanta arranges debt and equity financing for commercial real estate developers, investors, and users. We have a team of seven production professionals with an average of 33 years of experience, who have long-term relationships with 21 correspondent lenders and access to many more. These important relationships have grown over our 45+ year history. Colliers currently services 125 loans totaling over $537 million for its correspondent lenders. Insight & Expertise The Atlanta Capital Markets team originates fixed-rate permanent loans, bridge loans, construction loans, fixed/ floating rate loans, mezzanine financing, participating loans, forward commitments, and joint ventures. Since 2000, we have financed over $2.5 billion of office, industrial, retail, apartment, self-storage, student-housing, mixed-use and hospitality properties. Through our integrated platform, we offer owners debt placement, valuation and appraisal services, property assessment and management, and project management services to increase the asset s income stream and overall value. Our proven system of investment sales takes into account each investor s unique priorities and weighted concerns for price, closure and risk. The outcome of our specialized approach is strategic development of the property s competitive profile, speed to market and careful negotiation to ensure a smooth closure and investment return 6 transit-oriented development group Colliers International

7 Strategic Alliance Colliers International-Atlanta is an active member of Strategic Alliance Mortgage, LLC ( SAM ), an organization of 22 commercial mortgage firms having 35 offices throughout the United States. SAM members have arranged over $110 billion of commercial mortgage loans since 2001 and currently service $40 billion. In an ever-changing market, SAM members offer the best lender relationships, which lead to successful commercial mortgage solutions. REPRESENTATIVE CORRESPONDENT LENDERS Colliers International transit-oriented development GROUP 7

8 Proven Success Metropolitan Atlanta Rapid Transit Authority (MARTA) Addressing the growing demand for transit-oriented development (TOD) sites which comprise compact mixeduse residential or commercial areas centered around high-quality train systems, MARTA identified five TOD sites which developers had expressed an interest. MARTA retained Rod Mullice s team to build a dynamic procession financial model as well as a feasibility financial model to help evaluate these proposals. Our Solution Rod worked with the firm s financial services team to collect and analyze psychographic and demographic information on the riders for the five sites. The team reviewed master plans for the sites, parking utilization studies, psychographic rider profiles for each station, zoning regulations and neighborhood agreements. Identifying a variety of viable uses for each TOD site, including retail, residential, hotel and office, our experts collected and analyzed market comps for each product type. What was the result for the client? Within seven short weeks the team, led by Rod, successfully built two financial models that could be used as an evaluation tool for the three million square feet of identified projects. MARTA now has a sophisticated financial tool to evaluate development deals at their transit stations. 8 transit-oriented development group Colliers International

9 City of College Park Rod Mullice was the lead advisor on the lease renewal of 217,313 sf for the City of College Park TOD. The project is an employment TOD with a total campus population of over 1,000 employees. General Service Administration (GSA) and Federal Aviation Administration (FAA) wanted to negotiate a multi-year lease extension. FAA has a continuing need for leased space at their current location. Due to the existing level of adequate available space, ample parking, and advantageous proximity to the airport, major highways and interstates, as well as the anticipated high cost to relocate, security, furniture and equipment, and a large quantity of files and documents, FAA sought to remain in their current location until a larger project can be developed and completed. Our Solution Rod s team analyzed the South Fulton County office submarket using local market knowledge and external databases to identify buildings traded in the last 36 months with characteristics similar to that of the City of College Park. Once the comparable sites were identified, a valuation analysis for each building was completed. By utilizing information gathered during the Market Analysis phase the financial model was constructed to determine financial feasibility and maximum profitability of any future GSA lease. To assist the City of College Park with the decision, the team created an intuitive and flexible financial model to analyze various data points such as but not limited to: Aeronautic Statistics Rent and Sale Comparables Submarket Neighborhood Trends Capital Analysis (Cost, Equity, Debt, Cash Flow, etc.) Development Assumptions (Site Costs, Constructions Costs, Tenant Improvements, etc.) Additionally, the model provided an overview to support forecasts, which are not limited to: Investment Analysis (Acquisitions and Disposition) Financing Analysis Leasing Analysis Discounted Cash Flows Equity Analysis (Developer and Investor) Debt Analysis (Lending Options) What was the result for the client? The outputs from the financial analysis informed the negotiation strategy. Rod was able to work with College Park officials and attorneys to improve the renewal economics by $10mm. Colliers International transit-oriented development GROUP 9

10 Expertise We pride ourselves on building and sharing expertise in order to create success for our clients and our people. Our passion for continuously expanding our knowledge base enables us to take a fresh and imaginative approach to everything we do. Service Updated March 2015 We create positive, memorable experiences by exceeding expectations both in business outcomes and in personal interactions. Integrity, ethics and empathy guide every interaction and define our service approach with clients and colleagues. 10 transit-oriented development group Colliers International

11 At a glance 502 offices in 67 countries > > US $2.3 billion in annual revenue > > 16,300 professionals and staff > > 1.7 billion* square feet under management > > $97 billion USD in total transaction value * Square footage includes office, industrial and retail property under management. Residential property is excluded from this total. All statistics are for Our Services Colliers International is a global leader in commercial real estate services, with more than 16,300 professionals operating out of 502 offices in 67 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate occupiers, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. Colliers International has been recognized and ranked by the International Association of Outsourcing Professionals Global Outsourcing 100 for 10 consecutive years, more than any other real estate services firm. Founding member of the World Green Building Council Member of World Economic Forum Named Top 100 service provider more times than any other real estate firm Colliers International transit-oriented development GROUP 11

12 For more information, please contact: Rod Mullice National Director & Senior Vice President colliers.com/transitorienteddevelopment P.12 transit-oriented development group Colliers International