Joint Ventures, Acquisitions & Strategic Alliances

PRESCHOOL DEVELOPMENT, PICNIC POINT
TaHANI DEVELOPMENT, SEAFORTH

Instigated and set up a joint venture partnership through an  SPV with a mix of debt and equity including put option agreements, offering expertise and know-how in all aspects of real estate and related services including all commercial arrangements. Karl managed the liaisons between chartered accountants, consultants and lawyers, overseeing the legal and technical aspects for the preparation of the joint venture and put option agreements, including the tripartite agreements with funders and investment partners.

Diskoros FT formed strategic alliances with construction companies and investment funds in order to promote mutual growth opportunities.

Purchase and Sale of Distressed Assets

Luxury Apartment development, Drummoyne
MEDIUM DENSITY TOWNHOUSE DEVELOPMENT, Ingleburn
TERRACE HOUSE DEVELOPMENT, BEXLEY

On these residential projects, off-market leads were generated and sourced and Karl managed to provide strategic links between developers, financial markets and real estate consumers to help each segment effectively tackle new challenges related to the lack of liquidity, eroding consumer trust and fluctuating prices in the property market. Management of the preparation and implementation a strategy for the development sites as follows;

• Prepared a constraints and opportunities assessment.

• Undertaken an initial feasibility assessment of the highest and best use scenario for the land, market assessment and sale projections.

• Financial modelling of upgrade scenarios, funding options and the Lessee’s cash flow position.

• Assembled a project team and prepared a development application for the highest and best use development scheme.

• Liaised with Council Officers, Planning NSW, Urban Design Consultative group and Councillors, with the objective of achieving development consent expediently and on acceptable terms.

• Managed all aspects of the program, including the ultimate sale of the completed development at Drummoyne to realise an above market expectation and a record for the area.

• Negotiated with Defence Housing for a long term lease of the completed town house development at Ingleburn.

Site Acquisition & Development

Seaforth Luxury Residential Development, Seaforth

Theotes privately purchase the distressed site with a DA approval for a medium-density residential development. The site was purchased from a dissolved and distressed partnership, with an option agreement and conditional on the attainment of additional land (disused footpath at the rear of the site) negotiated with the local government authority. Based on careful analysis of the site and the market, Karl identified the need for a different product mix and the ability to further capitalise on the highest and best use to maximise the return on investment. The existing plans and the existing approvals were then disregarded, we prepared a  design and obtained approval for a new luxury apartment building taking advantage of the site to thereby maximising the panoramic harbour views to all units. The IRR was increased from 15% to 30% based on the additional units and the new design.

• Actively managing a specialist consultant team in assessing the site and developing development options maximising the return.

• Preparing detailed planning studies including the site constraints and opportunities.

• Determining market conditions, sale projections and highest and best use issues.

• Carrying out ancillary studies and costings to review various options and rezoning scenarios and land use appraisal.

• Obtaining a rezoning from 5(a) Special Uses Defence to 2(c2) residential.

• Preparing a site specific development control plan.

• Preparing and obtaining development consent for the new medium-density dwellings.

Site Acquisition & Development

Burger King(hungry Jacks) - Princess Highway, St Peters & Canterbury Rd, Bankstown

Karl sourced the sites and managed the negotiations and acquisition of the sites for a  Burger King Franchisee JV. The negotiation included assessing the technical and commercial aspects relating to the development of a fast food restaurant carwash, café, associated car park and utility infrastructure. Carried out demographic analysis and research on vehicular traffic volume, feasibility study and cash flow modelling. Assisted with assessment, negotiations and recommendation of the commercial terms between franchisee with the Franchisor. Appointed valuation consultants and provided general advice on potential development highest and best use. Managed the development, from acquisition to completion and handover, including all design, approvals, and contracts management for the entire project development. 

St Peters

Site Acquisition

Commercial offices & showroom, Botany
Knight and Day Pharmacy, Hurstville
Sussex Inlet Pharmacy, Sussex INLET
LOW RISE 12 units Commercial/residential mixed use, Engadine

Provided acquisition advice and prepared recommendation report based on the replacement value of existing buildings and potential alteration and additions to meet the requirement and meet the future needs of the organisation.  Valuation consultants and quantity surveyors were commissioned to prepare technical and market reports. A project feasibility study was carried out and a general recommendation report backed by thorough research and market facts was provided to the Nu-Tek Board for the acquisition of the site.

World Tower & World Square

Acquisitions and Disposition

UNITING CHURCH AGED CARE FACILITIES, LEICHhARDT, LILYFIELD, MARRICKVILLE

Assisted in the preparation of the 5 year strategic plan for real estate assets, including acquisitions and dispositions.  Following a thorough analysis of the property portfolio and in particular seeking optimum use of the facilities, Theotes disposed of a non-performing and under-utilised commercial property in Norton Street Leichhardt and used funds to reposition one part of an existing hostel at 168 Norton Street, which was also vastly under-utilised and was converted to student accommodation. This conversion enabled around $160,000 in additional rental income. Karl was part of the senior team responsible for turning a $250,000 deficit into a $2 million surplus within 2 years of taking over the administration.

Acquisition and Development

The Coptic Church Properties - Primary and High Schools, WATTLE GROVE, GOULBURN, ROCKDALE and ARNECLIFFE

Volunteer member of the property committee, responsible for leading a team for the due diligence, feasibility and acquisition of land for the development of primary and high schools in Rockdale, and Wattle Grove including acquisition and amalgamation of sites for highest and best use to maximise operational space and provide additional outdoor play areas. Also managed the acquisition of church sites for the development of St Moses Church at Goulburn, the acquisition of St Mary & St Mina Coptic College Rockdale, as well as alterations and additions at St Marks Arncliffe .