We believe it is critical to understand the periods within a market cycle that call for development. Our senior executives have been developing properties for over 20 years across multiple market cycles. This experience helps West77 Partners determine the right times to develop properties.
Services
Development
Our development skill set includes:
- Site Due Diligence & Acquisition
- Design Team Selection & Management
- Entitlements & Permits Processing
- Managing Governmental Incentives
- Structured Financing
- Capital Raising
- Furniture, Fixtures & Equipment Procurement/Installation
- Property Management Selection & Orientation
- Project Closeout
- Project Opening Management
Acquisition
West77 Partners pursues geographical diversification in growth markets where we have knowledge and experience to offset economic risk from single market concentration. We typically seek to build critical mass in a locale in order to yield management economies of scale and avoid single property isolation. West77 is currently pursuing opportunities across the U.S. in regions that are consistent with our overall strategy.
We have extensive relationships with banking institutions, attorneys, title companies, and others in the real estate industry with whom we regularly work to identify properties for potential acquisition.
From time to time, we also acquire distressed notes backed by commercial real estate from banks or financial institutions looking to sell notes for non-performing commercial real estate assets.
If you are a seller of real property or distressed notes backed by commercial real estate and would like to speak to someone in our acquisitions department, please feel free to contact us or send an inquiry to acquisitions@west77partners.com.
Construction
West77 Partner’s in-house General Contractor, Wasatch DC Builders NW, has built hotels across multiple markets leveraging our experience, product familiarity, and capacity. As an owner-builder we work collaboratively with subcontractors, suppliers and vendors to ensure the best decisions are made for each project. We pride ourselves in creating portfolio partnerships and applying lessons learned from each project to improve upon future designs. In markets where Wasatch DC Builders NW is unable to draw upon our team’s capacity to be the general contractor, we utilize our management team to provide robust Construction Management services to deliver quality projects within budget and on time.
Our core services includes:
- Subcontractor bidding, negotiation, and contracting
- Schedule development and adherence
- Project buyout & budget controls
- RFI & change order administration
- Material procurement strategy
- Quality control and assurance programs
- Robust safety practices
- FF&E installation coordination
- Proactive punch list and project closeout
- Warranty management
Asset Management
Increasing asset value for our investors
West77 Partners approaches asset management from the ownership perspective. We apply a comprehensive, proactive approach to the commercial properties we oversee to maximize net operating income for our investors. As stewards of our assets, we are active participants in debt strategy & covenant tracking, operational expense management, physical property audits and regular portfolio reviews with our onsite property managers.
We pride ourselves on being operators instead of mere passive investors in real estate. By actively engaging in the management of the investment on a daily basis, we provide a real time response to critical issues affecting both the health of the asset and its financial results. Our overarching goal is to enhance the investment’s value by increasing revenue, minimizing expenses, and maximizing perceived asset value.
Investment Sales
West77 Partners provides disposition solutions across multiple market sectors including land, condominiums, multi-family, hospitality and more.
Due to our active involvement in the operations of each asset, our team provides the critical upfront thinking to make valuation and pricing recommendations, including comparable market studies, cash flow analyses, yield projections, operating statements, and development scenarios. Comprehensive offering memoranda and due diligence packages are prepared to ensure complete and accurate marketing of the asset to potential buyers. The property is brought to market with a strategy customized to our investors objectives whether that be a highly focused approach or a mass marketing campaign.
