• Identify desirable market area through computer analysis and supporting discussion with operator prospects
• Identify prospective site and local land partner
• Conduct preliminary site analysis and initial site planning
• Analyze zoning and permit requirements
• Conduct market and positioning analysis
• Determine contributed land partnership format opportunities to minimize initial cash equity requirements
• Determine local partner’s interest in equity investments
• Identify prospective operator / partner
• Manage asset or site acquisition, including coordination with third-party intermediaries
• Define construction project scope of work (new build, soft or hard renovation / repositioning / adaptive reuse, acquisition / divestiture, brokerage / sales / marketing, etc.)

• Initiate concept development and initial programming of facility components
• Coordinate master plan for future phases
• Prepare preliminary facility or land-use program (room or office count, public space, F&B outlets, parking, golf club, function space, etc.)
• Prepare pre-development expense budget
• Execute pre-development letter of agreement between Woodbine and other principals
• Assemble consulting team (identify, qualify, negotiate pre-development agreements / contracts)
• Manage site planning and schematic design process
• Qualify operators and negotiate agreement(s)
• Seed capital contributions
• Technical assistance services
• Equity contributions
• Operator / property management agreement
• Golf (or other amenity) access agreement (if golf is under separate control)
• Access agreements
• Shared-use agreements
• Brand standards compliance issues
• Interface with local government officials; determine plan reviewing, permitting, inspection requirements
• Determine federal and state code requirements, i.e., ADA, hazardous materials, swimming pool, etc.
• Prepare preliminary development budget and schedule
• Manage preliminary value engineering, pricing
• Prepare preliminary pro formas
• Confirm Go / No-Go Decision

• Conduct internal feasibility analysis
• Retain feasibility consultant (identify, qualify, negotiate contract)
• Manage market study
• Assemble preliminary consulting team (identify, qualify, negotiate contracts) *
• Manage concept development process
• Finalize facility program with supporting data from market study and operator
• Research and negotiate public sector participation and incentives
• Determine capital sourcing strategy (in-house, intermediary, investment bankers, etc.)
• Prepare presentation package for capitalization (project description, renderings, project budget, pro formas, term sheets, etc.)
• Implement debt and equity capitalization strategy
• Negotiate debt and equity legal documents
• Execute joint venture agreement and related formation documents (WDC, operator and equity investors)
• Prepare Buy / Sell Analysis
• Confirm Go / No-Go Decision

* Our strength is in coordinating a team of experts in technical fields that we typically outsource, including:

• Design consulting (architecture, interior, lighting, graphic, etc.)
• Engineering (civil, MEP, HVAC, structural, sound, environmental, etc.)
• Feasibility / Market Study / Highest-and-Best-Use Analysis
• Information systems and technology consulting
• Historical preservation consulting
• Legal consulting
• Property management

• Finalize pre-construction consulting team (identify, qualify, negotiate contracts) *
• Complete design process (final plans and specifications, construction administration)
• Manage theme / brand development process, including: creation of positioning strategy, facility / outlet / operating names, storylines, art and signage program, etc.
• Qualify contractors (general, landscape, FF&E, etc.)
• Competitively bid project
• Negotiate guaranteed maximum price or lump sum contracts
• Finalize project budget and schedule
• Prepare and distribute project documentation; manage team communication
• Confirm Go / No-Go Decision

* Our strength is in coordinating a team of experts in technical fields that we typically outsource, including:

• Design consulting (architecture, interior, lighting, graphic, etc.)
• Engineering (civil, MEP, HVAC, structural, sound, environmental, etc.)
• Feasibility / Market Study / Highest-and-Best-Use Analysis
• Information systems and technology consulting
• Historical preservation consulting
• Legal consulting
• Property management

• Finalize consultant / contractor selections and contract negotiations (negotiated agreement, competitive bid or combination, including MWBE commitments)
• Manage the construction process (coordination of building(s), infrastructure, golf course and related facilities, FF&E, loan administration, etc.)
• Coordinate governmental construction oversight process
• Create pre-opening operational plan & budgets
• Develop and implement marketing / communications plans (collateral, events, PR, pre-opening advertising, grand opening events, etc.)
• Manage utility and infrastructure procurement process
• Manage FF&E Design, Purchasing and Installation Process (including service contract negotiation) **
• Negotiate third-party lease agreements (e.g., retail operators, special amenity operators)
• Prepare and distribute project documentation; manage team communication
• Refine Market Positioning Statement and Marketing Infrastructure (market research update, marketing plan strategy / development, customer acquisition strategy, public and community relations)
• Coordinate opening transition plan with operator / tenants
• Organize and implement punch list team and procedures
• Manage Funding, Loan Draws and Accounting for Project; coordinate with owner requirements

** FF&E Design, Purchasing and Installation Services:

• Prepare preliminary and final budget vs. actual spreadsheet itemizing all FF&E items to be bid, purchased and installed
• Verify quantities of all FF&E items to be purchased and installed
• Distribute requests for quotations, receive and analyze bids, negotiate terms and conditions
• Prepare and execute purchase orders and service contracts for all FF&E goods and services
• Prepare and update FF&E lead-time schedule for critical items
• Expedite manufacture and delivery of FF&E goods and services
• Maintain logs of all contact with FF&E vendors
• Maintain purchase order logs itemizing vendors, quantity and description of items purchased, installation location, delivery status, shop drawing status, cutting and strike-off sample approvals, date item received, purchase order amount, actual billed amounts, net cost, tax, freight cost, total cost and variance to budget
• Reconcile receiving documentation with quantities and costs of items purchased and cost of goods invoiced
• Receive and properly process and code all invoices for payment
• Disburse funds to vendors after receiving all required documentation
• Catalogue flame spread certificates, operating instructions, cleaning, care and maintenance instructions and warranties. Transfer to owner for future reference and use.
• Ensure compliance with all agreements, permits, etc. (zoning, brand / operator specifications, standards, etc.)

• Manage accounting / bookkeeping and financial / compliance reporting
• Prepare / review / approve annual business plan
• Conduct periodic owner-operator meetings (financial statements, capital expenditures, FF&E replacement, marketing, sales, comparative / competitive analysis and benchmark reporting, revenue and profitability enhancements, etc.)
• Coordinate legal counsel
• Monitor operator performance / accountability (asset expense review, monitoring, reduction; ROI analysis) and make recommendations
• Monitor operator’s implementation and integration of marketing plans (local / regional / national) and make recommendations
• Review and monitor operator’s life / safety policies and procedures
• Review and monitor management fees and operator allocations
• Review and monitor operator MWBE policy; review implementation procedures
• Plan, review and approve all significant capital expenditures and utilization of FF&E reserve funds
• Review and approve third-party contracts and leases; negotiate as necessary
• Determine renovation needs and match with funding sources
• Review physical property, and recommend value enhancement opportunities
• Coordinate property tax valuation protests and litigation
• Review/manage risk and insurance requirements
• Review and manage treasury function
• Review, monitor and manage debt compliance
• Recommend exit strategy
• Manage ownership transitions
• Manage site, parcel and bulk sale opportunities, with or without third-party intermediaries

• Financial Engineering / Accounting Services
• Accounting and financial management
• Audit coordination
• Debt and equity sourcing, negotiation and closing
• Refinancing & debt restructuring
• Life Cycle Economic Projections / Review / Monitoring
• Lender / Appraiser Coordination
• Monitoring of Debt Coverage Ratios
• Interest Rate Hedging
• Monitoring of Loan-to-Value Ratios
• Property Cash Investment Management
• Manage Ownership Accounts Payable
• Manage Construction Loan / Equity Draw Reports
• Insolvency Services
• Creditor Services

• Communication coordination (consultants, corporate, brand, property levels)
• Marketing communications
• Government relations
• Industry organization relations
• Public / community / media relations services