Exploring greater possibilities in new development, we’re out there in the open fields and crowded cities in search of the next best location. Maybe the land we’ve identified is for sale, maybe it’s not — either way, we’ll pursue it. Below are a sample of the types of projects we have worked on.
Residual Group assisted an investor to assemble feasibility documents and underwrite the purchase of a note secured by a 2,043-acre master-planned community in Castle Rock, CO.
Brokers at Residual Group marketed and sold 3 master planned communities totaling 11,000 residential lots in Riverside County, CA. The buyer was a developer who finalized the entitlements and completed the horizontal development. We then represented the developer to sell blue-topped lots to public homebuilders.
Residual Group served as broker and asset manager for a mixed-use resort property at the base of Steamboat Springs ski resort. Asset management responsibilities included parceling off a hotel parcel which provided the Seller the opportunity to sell the property separately.
Residual Group marketed and sold 12 finished lots with sweeping views of San Francisco bay for $5,500,000. Residual Group also worked with the Dept of Real Estate and the HOA manager to obtain a "white report" certification allowing for retail sales of 10 constructed homes. This provided an estimated 20% increase in proceeds over a bulk sale.
Residual Group, on behalf of Compass Bank, worked with the buyer to revise an existing subdivision improvement agreement with the city allowing a production builder to build 45 lots for new home construction.
Cherry Valley Plaza is 16.5 acres of prime retail land along Interstate 10 in Calimesa, CA. Prior to marketing the property, Residual Group was able to determine a $310,000 cash account was held by the city for required improvements (unbeknownst to the Seller). This accounted for a dollar for dollar increase to the land residual.
