RAINMAKER UNDERWRITING, LLC 281.537.1200

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Condominium Project Feasibility Studies - Market, Finance, & Economic Impact...

Rainmaker Underwriting specializes in project feasibility studies - including condominium project feasibility studies.  If condomimium project, feasibility studies, reports, new construction, development, financing you are considering the development of a condominium property and will be seeking commercial bank financing, then an arm's-length market feasibility study is a requirement.  Rainmaker Underwriting has completed hundreds upon hundreds of multifamily housing market feasibility studies throughout North America.  Our no nonsense attitude of looking under all the rocks is the only way to go.  Our focus is on carefully documenting all market conditions and scenarios that have a higher than average likelihood of impacting the project.  The key is to provide detailed information that can then be worked-up in the financial feasibility study - which Rainmaker Underwriting also routinely provides.

Condominium projects represent the smallest technical challenge that Rainmaker Underwriting resolves in the field of due diligence documentation.  This means we can react fast - generating a complete market and financial feasibility study in as little as 21 days from date of contract, receipt of payment and receipt of the developer's initial program materials.  This means the Rainmaker Underwriting approach is very cost-efficient.  A typical condominium market and financial feasibility study costs approximately $10,000 and includes approximately 125 pages to 400 pages of original work (including the appendix of raw data).  

Rainmaker Underwriting's report includes the following conclusions and recommendations for your project:

  1. Unit counts by class of living unit (efficiency unit counts, 1-bedroom units, 2-bedroom units, 3-bedroom units, penthouse units, etc.); and

  2. Unit sizes by class of living unit; and

  3. Unit specialty finish requirements and recommendations; and

  4. Schedule of project physical amenities; and

  5. Schedule of pricing by unit class; and

  6. Total development cost budget, including a comprehensive financial feasibility analysis; and

  7. Project cash flows matrix - sources & uses based statements; and

  8. Pro forma project financial statements, charts, technical discussion, notes and empirical assumptions presentation; and

  9. Summary information for capital funding plan.  Client input required for project development team slots (architecture, MEP, civil, marketing, sales, construction, etc.).

See the difference.  Rainmaker Underwriting goes the extra mile because our experience on hundreds upon hundreds of multifamily projects (including high-line condominium projects) will help you negotiate the construction financing on a non-recourse basis.  It is all part of the difference that makes Rainmaker the leader in customized capital financing consulting solutions.

What Goes Into An Underwriting?

The Rainmaker approach is truly a comprehensive assessment with 66 exhibits collected on every project that cover every aspect of the development, construction, operations and regulatory matters.  Collateral, credit and capacity underwriting reviews are conducted using CREFC underwriting standards in addition to a complete default risk analysis on term, maturity and technical default risk profiles.  Our typical underwriting report on a new construction project will easily exceed 500 pages and catalogue all transaction documents, plans and specifications.

Rainmaker Underwriting, LLC can trace its history back all the way to 1989.  Incorporated in 1993, Rainmaker Marketing Corporation evolved over time into a full-service business to business consulting firm.  Rainmaker Marketing Corporation’s initial specialization was in issues and documentation needs corresponding to the capital funding cycle for commercial real estate development projects with a primary focus on senior housing and health care related properties.  Today, Rainmaker Underwriting, LLC serves all types of commercial income-producing property development program financing requests with a combination of feasibility studies, due diligence services, structured finance consulting and a focus on commercial underwriting review services.  Rainmaker Underwriting, LLC’s service area includes all of the continental United States, Canada, Mexico and the Caribbean Basin.

281.537.1200

Email: clinton.lovell@rainmakerunderwriting.com

Project Feasibility Studies, Commercial Real Estate Development Finance, Outsourced Underwriting Services, Due Diligence Documentation & Project Management Consulting

6706 Pebble Beach Drive, Houston, Texas 77069.

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