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Due Diligence Documentation "Exhibit D-3"
Developer Personal Resumes
The following notes
are provided pertaining to this exhibit:
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What: all of
the business aspects of the proposed Project are under the control of the
Developer (working on behalf of the Owner). The Developer's expertise
as to timing, budgeting, promotion and all the related activities have a
material bearing on the totality of the economic opportunity the proposed
Project represents. Accordingly, it is important to determine if the
Developer's employees (principally, the employee assigned the role of
Development Manager for the proposed Project) have the professional
expertise and experience to discharge their responsibilities to the
advantage of the Owner and the syndicate investors.
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When: prior
to execution of the Development Management Agreement (see Exhibit D-1) at
the beginning of the pre-construction phase.
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Why: the
Development Manager holds considerable sway over the fortunes of the
proposed Project. Accordingly, it is important to pick the best
possible candidate.
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Where: the
Development Manager works both on site and off site through the entirety of
the development program schedule.
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How: the
Developer submits the resumes of likely candidates and the resume of the
selected candidate is posted for prospective syndicate investors to review
at their convenience.
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What's important: the
Development Manager should have definitive experience in the development of
similar projects in terms of both scope of work and project costs.
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This exhibit is
not required for syndications of existing properties that do not contemplate
any new construction.
For more information, please contact us at 832.659.5009 or via email at info@realestateplays.com.
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