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Major Regional Bank
North Carolina |
Bank Acquisition
Components: Acquisition Due Diligence – Bank Acquisition
Project Value: Confidential
SAG helped a major regional bank determine the market value of their real estate assets for their acquisition by another regional banking entity. The assets were located throughout four major markets in North Carolina and required an in-depth analysis of each real estate market. These assets covered most property types found in a financial institutions portfolio; including vacant bank sites that had not yet been developed, neighborhood branch banking locations, regional banking headquarters and the main corporate banking offices.
This assignment required the land sales analysis of several bank sites that had been acquired but not yet improved. It required a cost, sales and income analysis based on local market data to determine the value of several neighborhood bank branches. It required a cost, sales and income analysis based on regional market data to determine the value of several regional headquarters locations. It required a cost, sales and income analysis based on regional market data to determine the value of the corporate banking headquarters.
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Compass Point
Brunswick County, North Carolina |
Residential/Golf/Commercial Mixed-Use
Components: Development Due Diligence – Valuation
Project Value: $100 million
SAG helped the largest residential developer in Southeastern North Carolina determine the market value of a 2,037-acre planned community consisting of 5,800 homes, a 27-hole golf course and a 37-acre commercial component in order to secure bank financing to initiate the project.
This assignment required separate land sales analysis of single family sites, multi family sites, golf course tracts and commercial development sites. A projected valuation was also completed for the entire project based on 1,066-acres improved with single family homes; 316-acres improved with townhomes; 618-acres improved with a 27 hole golf course and conservation areas; and 37-acres improved with 350,000 square feet of commercial space. This assignment required the valuation of every component required in a large mixed use community, including single family, multi family, golf course and commercial components.
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Oak Island Marina
Oak Island, North Carolina |
Condominium and Marina
Components: Development Due Diligence – Valuation
Project Value: $110 million
SAG appraised the largest marina and condominium development planned for the entire North Carolina Coast. This project consists of 224 dryslips, 56 wetslips, full service marine facility (fuel sales, transient slips and ship's store) and 256 condominium units located in two 12-story residential towers. This assignment required separate land sales analysis for commercial waterfront sites and multi-family sites; a discounted sellout analysis with separate sales prices and absorption rates for dryslips and wetslips; and a discounted sellout analysis with sales prices and absorption rates for residential condominium units.
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Plaza Hotel
New York City, NY |
Hotel
Components: Acquisition Due Diligence - Valuation
Project Value: $300 million
SAG team members provided valuation services for the real estate assets associated with the Plaza Hotel and determined the contributory value of the labor union contracts and equipment in place at the time of acquisition. The assignment required the analysis of land sales and cost data for hotel projects in Midtown Manhattan, home to some of the highest acquisition and construction costs in the Western World. Hotel sales were analyzed in New York and other major metropolitan markets such as Boston, Washington and San Francisco to determine a per room value for this property. The income and expenses for the Plaza were analyzed and compared to other 5 star hotel properties in the United States and Europe in order to analyze the future performance of the hotel. The eventual conversion of the hotel into condominium units was also analyzed based on cost and comparable sales analysis for high rise condominium projects in Manhattan.
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Bank of America Stadium
Charlotte, NC |
National Football League Stadium
Components: Land Valuation
SAG team members provided valuation services for the Carolina Panthers Bank of America Stadium site and practice facility. This valuation required an appraisal of a 37.89-acre urban site that was assembled through purchases from NCNB, Duke Power, Mecklenburg County, the City of Charlotte and a host of individuals. The site was then leased to Richardson Sports Management for $1.00 per year, and was subsequently improved with the Stadium and Practice Facility. The engagement required an in-depth analysis of urban land uses, site contamination, zoning, permitted density and public-private partnerships.
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Los Millares Golf & Country Club
Andalucía, Spain |
International Resort
Components: Hotel, Golf, Residential, Spa, Casino
Project Value: $50 million
SAG team members provided valuation services for the Los Millares Golf & Country Club in Andalucía, Spain. This community, planned for the Mediterranean Coast of Spain, included a 350-room Grand Hyatt Hotel, two 18-hole golf courses, a golf academy, and 872 residential units divided into single family homes, townhouses and condominiums. Responsibilities included separately valuing all of the real estate components to be included in the development. Our services included performing a cost, sales and income approach for the 5-star hotel utilizing comparable resort hotel sales in Europe and the United States; valuing the golf courses and the golf academy based on an analysis of comparable resort golf courses in Portugal and Spain; and projecting absorption rates and sales prices for the single family homes, townhouses and condominiums based on the performance of competitive resort properties in the Algarve Region of Portugal and the Costa Del Sol Region of Spain.
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North Carolina Department of Transportation & North Carolina State Ports Authority
State of North Carolina |
Statewide Infrastructure
Components: Valuation - 70+ Commercial Properties
Project Value: $100 million
SAG team members have appraised over 70 properties in North Carolina that have been acquired by the State as infrastructure needs have increased. These appraisals required government specific knowledge of condemnation, imminent domain issues, traffic patterns, infrastructure evaluation, port development, bridge projects and their impacts on property values. These assignments covered several property types including residential, retail, office, industrial and institutional.
In 2008, SAG team members successfully completed the largest (in terms of dollar value) Department of Transportation case in the history of North Carolina and also appraised the proposed multi-modal port terminal site for the North Carolina State Ports Authority. When completed, this port will provide over 2,500 new jobs in the region and will compete directly with Norfolk and Savannah as a terminal shipping point for the Southeastern United States.
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