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Dr. Andrew Rothschild Tucker Bartlett September 24, 2008.

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Presentation on theme: "Dr. Andrew Rothschild Tucker Bartlett September 24, 2008."— Presentation transcript:

1 Dr. Andrew Rothschild Tucker Bartlett September 24, 2008

2 Presentation Outline Scientific Properties background Golden Belt overview Lessons Learned by the Developer

3 historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

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10 The Structure

11 Tuckers Top 10 Closing Lessons The Speed Points 1.Select the right team Accountant, lawyer, architect (or historic consultant), lender (and lenders lawyer), title insurance 2.Dont let your to dos slow the process 3.Start survey, appraisal, insurance asap 4.Set a hard closing date, mini-milestones, and weekly check-ins 5.Stay involved and try to understand the issues

12 Tuckers Top 10 Closing Lessons The Other Points 6.Dont be afraid to challenge the professionals 7.Dont let the structure drive business decisions 8.Dont let the structure create taxable income 9.Dont let the structure let cash out of the deal 10.Negotiate a cap on the legal expenses you pay on behalf of your investor and lender

13 Think About the Future Ongoing Concerns 1.Ongoing accounting fees- limit the number of audits and tax returns required 2.Get your accounting and reporting processes set up right away Write a memo to yourself explaining the transaction in your own words right after closing

14 Think About the Future Exit Concerns 1.Think of legal incentives as well as financial to push your investor to leaver after five years 2.Understand tax consequences of the exit Are any funds structured as loans that will be forgiven 32/39ths- negative amortization; who pays the taxes?

15 Dr. Andrew Rothschild Tucker Bartlett Chief Operating Officer


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