| Rainmaker
Marketing Corporation provides a market-based commercial real estate
fractional ownership syndications solution for the hotel industry.
Rainmaker's program allows for syndications to be undertaken at the
pre-construction phase, construction phase or post-construction
operations phase of a hotel (or motel) project's development cycle.
This page provides the necessary due diligence disclosures for a
hotel project that is seeking construction phase project financing:
- Complete incorporation filings on the sponsor entity and developer
entity (if different).
- Copy of all by-laws and/or operating agreements.
- Title.
- Title Insurance.
- Construction Design/Build Contract w/GMP.
- Design/Build Pre-Construction Phase Services Agreement.
- Property Management Agreement.
- Property Development Management Agreement.
- Property Franchise Agreement.
- Evidence of Construction Financing (Construction Loan Commitment).
- Evidence of Permanent Financing (Takeout Loan Commitment).
- Construction Permit.
- Approved Development Plat.
- Utility "Will-Serve" Letters.
- Environmental Phase I Report.
- Value Engineering Report.
- MEP Design Report.
- Structural Engineering Review Report.
- Architectural Schematic Phase Design Documents.
- Schematic Phase Outline Construction Specifications.
- Property Surveys (metes & bounds, encroachments and topo).
- Entitlements Agreements (local, state and federal levels).
- Proposed Tenants-In-Common Fractional Ownership Contract
(specimen).
- Market Feasibility Analysis Report.
- Pro Forma Financial Presentation or Financial Feasibility Study.
- Business Plan of Department Operations.
- Capital Funding Proposal.
- Project Staffing Plan.
There may be additional requirements that apply on a case by case
basis.
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