40 Years of Successfully Developing Real Estate
Value-add and opportunistic development for a long-term hold strategy
CRM Properties Group’s success is directly related to its high qualified staff and its unyielding point of view in following the rules of the business. All staff members are well educated in their field, which includes finance, accounting, construction, law, income tax, marketing and management. This education, coupled with experience and diligence, has allowed CRM to establish benchmarks, standards and systems which set the company apart from its competitors.
Projects are identified and analyzed based on their profitability, cash requirements and long term value. Traffic, population, education and other demographics are studied to maximize potential for a site. Competitive sites are analyzed for their strengths and weaknesses and opportunities are identified with the primary focus on consumer demands and lifestyles. Parking, access and ease of movement within the property are maximized keeping in mind costs and proposed uses. Emphasis is put on architecture and hard and soft landscaping to create a positive environment for the location.
CRM Properties Group works with related government bodies to secure zoning and entitlements and keeps city officials informed and involved throughout the development process. Financial tools are identified and a financial model is developed based on the potential for the site.
Tenants are categorized by use, investigated for their financial strength, and integrated by national and local presence in order to create the proper mix for the project. Marketing begins for the site through the vast network of the company. All leasing is done in-house, utilizing cooperating brokers, in an effort to save time and streamline the negotiating process. Upon reaching the required lease-up, financing is procured, documents are principally negotiated in-house and the construction team is put together.
CRM Properties Group manages all of its construction through its affiliate, Bentley Construction Corporation. Contracts are negotiated with trades and trade files are documented and maintained. Regular job meetings are held and lender reviews are attended throughout the process. Payouts are managed in-house, with appropriate reserves and hold backs.
Every step of the development process is reviewed weekly between CRM staff members and appropriate outside parties. Upon completion of the development process, CRM’s affiliated management company, RLM, manages the operating asset.