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:
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Complete incorporation filings on the sponsor entity and developer
entity (if different).
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Copy of all by-laws and/or operating agreements.
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Title.
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Title Insurance.
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Construction Design/Build Contract w/GMP.
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Design/Build Pre-Construction Phase Services Agreement.
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Property Management Agreement.
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Property Development Management Agreement.
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Property Franchise Agreement.
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Evidence of Construction Financing (Construction Loan Commitment).
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Evidence of Permanent Financing (Takeout Loan Commitment).
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Construction Permit.
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Approved Development Plat.
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Utility "Will-Serve" Letters.
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Environmental Phase I Report.
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Value Engineering Report.
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MEP Design Report.
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Structural Engineering Review Report.
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Architectural Schematic Phase Design Documents.
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Schematic Phase Outline Construction Specifications.
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Property Surveys (metes & bounds, encroachments and topo).
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Entitlements Agreements (local, state and federal levels).
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Proposed Tenants-In-Common Fractional Ownership Contract
(specimen).
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Market Feasibility Analysis Report.
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Pro Forma Financial Presentation or Financial Feasibility Study.
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Business Plan of Department Operations.
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Capital Funding Proposal.
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Project Staffing Plan.
There may be additional requirements that apply on a case by case
basis.
