What Investors Actually Care About in Early-Stage Development Deals ASK: What are investors really evaluating when a deal is still in feasibility or entitlements? ANSWER: In the earliest stages of development, investors are not underwriting returns. They are underwriting the developer. When permits have not been issued and construction has not started, projections are still […]

How to Decide Between Buying Land, Ground Leasing, or Partnering ASK: I have a site opportunity. How do I decide whether to buy the land, ground lease it, or partner with the landowner? ANSWER: How you control land is one of the most consequential decisions in development. It determines who carries risk, who controls outcomes, […]