3RE Advisory provides owner representation and other third-party real estate services to clients with projects throughout the United States and abroad from offices in New York, Austin, Southern California, Chicago, Denver, and Atlanta. With more than 26 million square feet of commercial and residential development and in excess of $7.1 billion dollars of delivered value under our management and supervision, 3RE possesses the experience, professional relationships, and proven results to deliver on our clients’ goals and expectations.
Our mission is to control the project budget and schedule through strategic planning and management in a clear, measurable process to ensure a successful project delivery.
Through innovative thinking and proactive problem solving, 3RE provides vision, strategy, and discipline to maximize returns on large-scale commercial projects. We create successful solutions for unique and challenging projects with complex partnership structures in all phases of development including:
Due Diligence – 3RE delivers critical information and customizable reporting that allows ownership to make well-informed decisions about available development opportunities and strategies to maximize their investment goals, including:
- Acquire / Track / Review of information during underwriting and pre-acquisition culminating with preparation of a due diligence report
- Develop strategies for repositioning existing or distressed assets
- Formulate replacement cost analysis to determine discount value
- Create a comprehensive capital expenditure or development budget for a proposed property
- Devise a realistic and attainable schedule with appropriate milestones and accountability
Predevelopment – 3RE’s team of experienced professionals guide our clients through the predevelopment phase to optimize cost, schedule, and value engineering options, including:
- Manage entitlement and project approval process (and multi-phase master planning when applicable)
- Recommend consultants and negotiate contracts
- Lead design value-engineering exercises
- Prepare strategic timeline
- Develop business plan including detailed budget
Owner’s Representative Services – an extension of ownership – 3RE provides expert services to the largest and most active global private real estate equity firms by guiding the project team from idea conception to final delivery and disposition.
Through seamless integration into our clients’ teams, 3RE serves as an expert manager and single point of contact liaison between ownership and the architect/engineer design team and general contractor. Acting as an extension of the ownership team, we represent our clients and their voices at key meetings, advocating on their behalf to protect their business plan goals and interests. Typical scope includes the following:
Preconstruction Management
- Recommendation and selection of the design, engineering, and construction teams
- Design-phase management
- Secure permits and approvals
- Preliminary cost and schedule development
- Development and negotiation of GMP contract
- Consultant contract negotiations
- Oversight of bid and award process
- Scope analysis and value engineering
Construction Management
- Construction monitoring and regular reporting (weekly, monthly, and/or quarterly)
- Visit and inspect property and open issue tracking
- Attend and participate in regular Owner-Architect-Contractor (“OAC”) meetings
- Review progress status against the schedule and in compliance with contract documents
- Budget and change management oversight including anticipated cost to completion preparation and analysis
- Pay application and draw request review
- Document control systems
- Close out of the GMP contract and overall project budget
- Transition the property to asset management team and create closing binder of appropriate documents
