Signature Realty Capital Corporation President Al Cohen, CPA, MBA, has been involved in real estate for over 30 years. He initially worked in New York State as a CPA, and then worked for a real estate investment firm in Denver, Colorado evaluating and monitoring investments. While in Denver, he formed a small homebuilding operation and built about 50 homes. He also was a CFO for a large land developer that entitled and developed master planned communities and smaller parcels. He continues to develop land in Colorado Springs, while working in southern California.
LAND- We understand land whether it be a loan ($22 million in Northern Ca.) or hard money or arranging joint ventures we have the experience. We have done about 25 joint ventures totaling over $50 million over the last 15 years in California. Many of these have been entitlement deals getting the property ready for a developer to buy and build out. If you are a land owner and would like to put it into a joint venture to maximize your return, we can definitely assist you help there as we work with many top-quality developers.
DEBT- Every situation is different, therefore and thus the best type of loan will vary. An experienced advisor can save a borrower considerable amounts of money by going to the right source. The quality of the asset and the leverage desired all dictate what might be available. For example, Also long term as opposed to an intermediate term “Bridge” loan is different. Mezzanine debt can get the leverage up to a higher amount but is more costly. Construction debt also requires a different skill set by the lender and is priced differently.