Good afternoon, Monkeys.
After spending more time than I probably should spend searching through previous posts, I have turned to creating my own. I was wondering if anyone has any suggestions or resources to share regarding the A-Z process, procedures and steps involved in closing a "deal". Most posts here are about financial analysis, modeling, etc. but rarely dig into the specifics of negotiating, documenting and closing on anything from partnerships or acquisitions to leases or loans.
I have found myself as a VP in a mid sized family office wearing many hats working on acquisitions, asset management, commercial leasing and development. While crunching numbers isn't a problem, I have never actually gone through any of these processes from start to finish on my own, as I have always had a "hand off" at some point in prior jobs (usually to a different group). I assume most of this comes with experience.
I know the request is broad, but for those of you who work in acquisitions, leasing, asset management, etc. what resources have you used to merge your financial analysis abilities with real negotiation, documentation and execution of deals?
interested as well
A practical guide to commercial real estate transaction by Gregory stein, it’s a handy book for practicing real estate attorneys without the legalese so it’s very useful as a a structured step by step and should be appropriate in terms of technicals for a VP at mid size firm
Will definitely check this out. Thank you!
This looks great - shame its so expensive...
I found a used paperback version for $55. Still not super cheap but 1/3 of the original cost.
The problem is that many deals are unique, especially the ones where you make money. You know, if it was easy, everyone would do it, and all that. There just isn't a substitute for experience. Find an experienced real estate attorney to lean on the first few times through
Moreover, as you sort of allude to, negotiating a deal and managing the day to day operations are two entirely different jobs. Obviously not impossible to do both, but there is a reason people tend to specialize in one aspect of real estate.
See Deal, Underwrite, Negotiate, Get Deal, Hire Counsel, Close. Pretty easy actually
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