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In order to
qualify for the funding of your choosing, each new development project
must complete the standardized due diligence process that is
document-centric in execution. To help you understand what is
required of you in order to undertake a syndication; or, if you are
seeking to understand the entirety of the syndication process as a
condition precedent to investing, then you should become at least familiar
with the necessary due diligence documents.
Here follows
the typical list of documents required to undertake a syndication:
ARCHITECTURAL
1. Architectural Services Agreement - Design/Build Pre-Construction Phase
Services Agreement.
2. Interior Design Services Amendment to Architectural Services Agreement.
3. Architectural Firm Profile.
4. Architectural Firm Personal Resumes.
5. Schematic Phase Design Documents.
6. Schematic Phase Outline Construction Specifications.
7. Project Elevation Drawings (or Virtual Tour).
8. Reserved.
CONSTRUCTION
9. Design/Build Construction Contract - Pre-Construction Phase Services
Agreement.
10. Contractor Profile.
11. Contractor Personal Resumes.
12. Contractor Financial Statements (audited).
13. Contractor Bonding Capacity Letter.
14. Contractor Guarantee of Completion & Gross Maximum Upset Price (GMP).
15. Value Engineering Report/Independent Cost Estimate.
16. Reserved.
DEVELOPMENT
17. Development Management Agreement.
18. Developer Firm Profile.
19. Developer Personal Resumes.
20. Developer's Project Operations Plan.
21. Developer's Project Marketing & Advertising Plan.
22. Reserved.
ENGINEERING
23. Site, Survey & Civil Engineering Firm Profile.
24. Site, Survey & Civil Engineering Personal Resumes.
25. Site, Survey & Civil Engineering Contract.
26. Property Surveys (metes & bounds, encroachment, topo, etc.).
27. Approved Site Plan.
28. Approved Development Plat.
29. Structural Engineering Firm Profile.
30. Structural Engineering Firm Contract.
31. Structural Engineering Report.
32. Environmental Engineering Firm Profile.
33. Environmental Firm Personal Resumes.
34. Environmental Engineering Firm Contract.
35. Environmental Phase I Report.
36. MEP Report.
37. Reserved.
FINANCE & ACCOUNTING
38. Project Market Feasibility Consultant Firm Profile.
39. Project Market Feasibility Consultant Personal Resumes.
40. Project Market Feasibility Analysis Report.
41. Project Pro Forma Financial Presentation Consulting Firm Profile.
42. Project Pro Forma Financial Presentation.
43. Business Plan of Project Operations.
44. Entitlements Review.
45. Project Capital Funding Plan Proposal.
46. Reserved.
LEGAL & ORGANIZATIONAL
47. Project Sponsor Incorporation Filings.
48. Project Sponsor By-Laws or Operating Agreement.
49. Proposed Project Sponsor Tenants-In-Common Fractional Unit Syndication
Contract.
50. Project Sponsor Legal Counsel Firm Profile.
51. Project Sponsor Opinion Letters (tax, organizational, legal capacity,
etc.).
52. Reserved.
OPERATIONS & MARKETING
53. Property Manager's Firm Profile.
54. Property Manager's Personal Resumes.
55. Property Manager's Services Contract.
56. Property Manager's Plan of Operations.
57. Property Manager's Marketing & Advertising Media Plan.
58. Reserved.
PROJECT SITE
59. Title.
60. Title Insurance Specimen Copy.
61. Mortgage & Liens.
62. Utility "Will-Serve" Letters.
63. Approved Site Plan.
64. Evidence of Zoning for Intended Use.
65. Entitlement Contracts or Letters Of Intent for Entitlements.
66. Evidence of Construction Permitting Availability.
67. Flood Plain Certification.
68. Reserved.
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