Stages of property ownership
Land acquisition, construction, occupancy, management, sale
Property development stages?
Land, construction, occupancy, sale.
Construction durations — office?
18-48 months
Construction durations
Office: 18-48m, Retail: 6-48m, Multifamily: 6-24m, Industrial: 9-12m.
Development team members?
Architect, engineer, designer, manager, broker, consultants, lawyer, accountant, surveyor, financiers
Core development team?
Architect, engineer, contractor, broker, consultant, legal, finance.
Development costs?
Soft, hard costs, finance, contingencies, profit, reserves.
Highest & best use criteria?
Physically possible, legally permissible, financially feasible, most productive.
Major development risks?
Cost overruns, delays, market downturns, poor workmanship, tenant issues.
Flow of funds?
Draw schedule aligns with construction milestones, lender reviews.
Test your knowledge with 9 questions on Mastering Property Development Fundamentals.
1. Which of the following best describes the typical development timeline for retail properties?
2. What is the typical duration range for office construction projects in property development?
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