OZ Development
Purchased OZ land with the intent to do a large scale development (+20 acres). Considering the option of selling the land and doing a build to suit where our business would occupy the property with a NNN lease. We would be an anchor type tenant and facilitate more traditional development on the remaining 9 acres (hotel, live-work-play etc.) I’m more focused on the business that would occupy the first phase of development. I’ve penciled this out for a perspective buyer and I think it would work well but this would probably need to be an OZ fund/institutional due to the development cost. Not in a distressed situation or anything, we already own the land and acquired it for a low basis a few years ago. We could wait for a better lending environment but would prefer to focus on the operational business side of things and allow a bigger player to take the upside on the CRE. Been in contact with one OZ fund but having a hard time finding other contacts that source these deals. Most of the contacts/websites I’m finding are aimed at attracting OZ investors. Doesn’t necessarily have to be OZ but I’d think the added benefits would be more attractive as an OZ deal. Does anyone have any suggestions/groups/contacts?
Based on the most helpful WSO content, it seems like you're looking for contacts or groups that can help you source deals for your large-scale development project. Here are a few tips that might help:
Networking: This is a crucial part of sourcing deals. You can start by reaching out to your existing contacts in the industry. If you don't have any, consider joining relevant industry groups or forums where you can meet potential contacts.
Intelligence Reports: Paid intelligence reports like the ones Gartner produces can be very useful. They are expensive, but they provide valuable insights that can help you identify potential deals.
Awards: Keep an eye on who is winning awards in your industry. This can give you an idea of who is doing well and might be worth reaching out to.
Online Platforms: There are several online platforms where you can find potential deals. These platforms often have a section where you can post your project and attract potential investors.
WhatsApp Groups: If you're not already in a group where deals are shared, consider creating one. This can be a great way to share opportunities and get insights from others in the industry.
Remember, patience is key. Sourcing deals can take time, but with the right approach, you can find the right opportunities. Good luck!
Sources: Your best sourcing tips, Starting to Hunt Your Own Deals in IB, Where do I look up recent deals?, Does anyone have a list of companies with internal consulting groups?
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