Projects

Development Operations

Meer Capital Partners pursues development projects in emerging markets where it can build to a capitalization rate on costs of under 9%. We usually find these opportunities where future job growth is a certainty.

Meer Capital Partners carefully supervises the development activity from initial design through the end of lease-up of our rental properties or through the final sale of units in a ‘for sale’ property. The Company employs professionals where control is critical to the successful outcome of the project. For example, the Company employs a project manager for each project that oversees the construction activities and negotiates all change orders that arise during the construction phase of the project. In addition to the monitoring of the construction company, the project manager also supervises and actively participates in the entire process of entitling and permitting the project.

We also participate heavily in the interior design and layout of the units as well as recreational facilities located at the property. We monitor outside contractors and consultants to assure the design and layout of the entire project meets the objectives of the Company’s resident-friendly and customer-service oriented communities.

The Company typically holds investments for a period of approximately 3 to 5 years when yields approach IRR’s of over 20%. Meer Capital Partners maintains control of the property as the managing director, but takes counsel from their institutional investors concerning issues such as the selection of management companies and establishing timelines and terms for selling properties.

The Company utilizes the services of Top Professional firms during the development process. Local attorneys are engaged to assist in the entitlement process and a top national law firm supervises the primary legal support of the development transaction. We also utilize top-notch architectural firms, which are involved in developing innovative designs and plans for resident friendly facilities. Furthermore, the Company interviews and utilizes top regional management firms with a reputation for high-quality customer service recognition.