Representative Services

Woodbine is available to provide development services from the concept stage to the asset disposition phase, from a one-time consultation to long-time ownership projects. The following is representative of tasks we have performed in the various stages of our past projects. Fundamental to every stage is a clear understanding of project scope and an unrelenting adherence to budget and schedule. If we can be of assistance to you on your project, please give us a call.

Opportunity Identification / Site Selection / Market Positioning Phase

  • 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.)

Schematic Design Phase

  • 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

Feasibility / Capitalization Phase

  • 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

Design and Brand Development Phase

  • 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

Construction / Pre-Opening Phase

  • 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.)

Asset Management Phase

  • 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

Additional Real Estate Services

  • 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

Image / Awareness Management

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