Transaction Support Services
Disposition and transfer of challenged real estate requires achieving multiple objectives in order to return value and limit risk
While property owners seek to maximize value, they often need to overcome stigma, resolve regulatory issues and limit liabilities. Vita Nuova has supported the transfer of large and sometimes significantly contaminated sites by implementing an integrated repositioning and disposition process. Vita Nuova offers a number of services in support of the real estate transaction process.
Property Repositioning and Marketing
Repositioning a property from a liability to an asset is critical to overcoming stigma and creating value in the market. Vita Nuova's team of seasoned real estate professionals uses a variety of tools and methods to successfully "rebrand" properties, building upon opportunities and creating market momentum. Redefining a property is the first step to successful redevelopment.
Liability Transfer/Deal Structure
A number of tools and resources are available to limit risk and transfer liabilities associated with a property. For more than a decade, Vita Nuova has worked to structure deals that mitigate liability for owners or buyers of properties. Covenants not to sue, consent decrees, special purpose entities, and insurance products are some of the tools that Vita Nuova has employed to ensure our client is protected and liabilities are appropriately transferred. Vita Nuova members have participated in some of the largest 'risk transfers' in the country.
Expression of Interest Process
Vita Nuova's expression of interest (EOI) process is a non-binding means of quantifying market interest in a particular site. The multi-phase confidential EOI process provides important data regarding market interest and obstacles, and provides the input necessary to determine the best path forward. Using our propriety database of potential developers and end users representing all market sectors, Vita Nuova is able to test the market interest prior to formally bringing the property to market.
Once a determination is made to dispose of the property, Vita Nuova can manage a private disposition process in which targeted purchasers are sought for the property. The sites most suitable for this process are those that have complex regulatory and/or physical constraints that require a specialized purchaser such as an entity able to manage complex environmental encumberances. Vita Nuova works to ensure that the long-term management of risk is considered as part of any transaction.
Redevelopment potential is often hampered by obstacles such as infrastructure, site access and market value. Successful redevelopment may require public/private partnerships to bridge the financial gap and bring a project to reality. Vita Nuova's redevelopment approach sometimes requires the active participation of stakeholders throughout the process, which in turn builds support for such partnerships. Vita Nuova has successfully created public/private partnerships, identified unique funding sources and developed integrated funding strategies to bring projects to fruition. In these cases, Vita Nuova has successfully acquired tens of millions of dollars for demolition, access roads and other infrastructure projects necessary to create value for the site.
Promotions Materials and Internet Marketing
Vita Nuova incorporates proven promotional methods and advanced technology to attract buyers, developers and end users from the local community and across the globe. Vita Nuova's creative staff provides quality copy writing, high level graphic design and substantive market research to create effective marketing materials. Email marketing campaigns, promotional videos, and property-specific websites are effective means of communicating complex information while promoting property value.