Office and Industrial Facilities Consultants Archives

Mixed-Use Redevelopment Entitlement and Permits

The EB-5 Program is Reauthorized

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027. The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021. The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible. The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency. With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation. The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures. Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications. The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas, and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas. These changed minimum investments apply to both regional center and direct EB-5 investments.

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

Real Estate Consultants - Office and Industrial

Feasibility & Due Diligence – The Edge Flex-Tech Office Park

19.08.2018 Due Diligence Consultants, Office and Industrial Facilities Consultants

GE Capital | Real estate project consultants for feasibility analysis to support lender’s analysis of planned flex-tech office development. StoneCreek Partners prepared a market feasibility evaluation of this El Segundo (Los Angeles County) flex-tech office park, as part of underwriting for a loan by lender GE Capital to the project’s developer. Study included review of comparable facilities throughout Southern California.

Repositioning of Office Complex Retail Podium

01.05.2018 Office and Industrial Facilities Consultants, Real Estate Advisory Services -

Paramount Group Inc. REIT | StoneCreek Partners was retained to provide real estate advisory services in connection the repositioning of this office complex’s retail podium. The repositioning program consisted of a $40 million capital spend that would re-position the 60,000 SF retail podium for this landmark office building.

The complex, One Market Plaza, features two high-rise towers on top of a six-story office building, a two-story subterranean and parking garage. The historic 11-story Southern Pacific Building, also known as “The Landmark”, was completed in 1916, and incorporated into the development in 1976. Situated prominently along the San Francisco Bay, the office and retail complex comprises an entire city block between Market and Mission Street and Steuart and Spear Street.

The Pavilion Event Space at One Market Plaza is one of San Francisco’s premier event venues. The Pavilion Event Space is made available for special events in this dramatic space. In addition, there are two landscaped patios on the 7th Floor with sweeping panoramic views of the Bay.

The Scope of Work for StoneCreek Partners included review of market support from nearby financial district employees and visitors, re-tenanting mix, guest circulation retrofits, and related subjects. The repositioning of this office Complex’s retail podium has since been completed.

Project feasibility consultants for office and industrial

Feasibility Study for Mixed-Use Project

24.08.2017 Office and Industrial Facilities Consultants, Project Feasibility Consultants

Feasibility study for mixed-use project, proposed for development in San Fernando Valley area of Los Angeles, California. Work was prepared for Brookfield Development Inc.

Brookfield Development Inc. | Project market and financial feasibility study for proposed mixed-use center. BCE Development (predecessor in name to Brookfield Development) had proposed a major mixed-use development featuring office, hotel and retail facilities on San Fernando Valley property owned by the famed entertainer Bob Hope.

Report including market support analysis, tenant leasing market conditions, tenanting prospects, tenant space bond yields, construction cost estimates, and projections of property operating results (EBITDA).

Mid-Wilshire Office Development – Project Feasibility

24.08.2016 Office and Industrial Facilities Consultants

Shimizu North America | Financial analysis and prototypical deal structuring for a planned office tower to be developed along the Wilshire Corridor in Los Angeles, California. Analysis included impact of tenant leasing program, leasing velocity, lease roll-overs, and the like. Project investment returns were tested for an array of scenarios regarding inflation, months vacant upon roll-overs, and rental step-up lease provisions. IRR analysis included review of sensitivity of different contribution components of partitioned rates-of-return.