Overland Development is unique in the way it can help its clients and joint venture partners. Because it combines real estate brokerage with development, construction, financing, and management, Overland has the advantage of making the development process seamless. We also benefit our clients in ways others cannot. Here are a few examples:

• We help small manufacturers expand to new locations;
• We help manufacturers expand at their present locations;
• We help landowners develop their property;
• We help landowners deal with difficult situations such as historic issues or environmental issues;
• We joint venture all types of real estate projects with landowners and investors.

Helping a Small Manufacturer Expand at a New Location

A plastics manufacturer was experiencing phenomenal growth–40% annually for the last five years but could not find a bank that would finance construction of a new facility. Virtually all of the company’s cash flow was being used to keep up with the demand for their product. They had outgrown their present facility and needed to quadruple floor space, which would cost several million dollars. Additionally, they needed another injection molding machine costing about $800,000. The manufacturer had approached several lenders, all of whom turned them down, not for poor credit, but because the business lacked liquidity. Confined in the undersize facility, the manufacturing process had become very inefficient: manufacture the product at one location, transport the finished product to another leased facility for warehousing until completing the order, and finally ship the completed order from the warehouse, thus handling the product numerous times with the additional labor and trucking expense.

To solve the problem, Overland found a suitable site to construct a new 40,000 square foot facility, negotiated a build-to-suit contract with the owner of the manufacturing company, arranged the construction and permanent financing, had the project built, and found an investor who would own the building with the manufacturer and co-sign on the note. The manufacturer now has the option to purchase the building within five years at its fair market value. Also, Overland provided the financing to purchase the additional $800,000 in equipment.

By using Overland, this manufacturer was able to obtain what no one else had been able to provide. A real estate broker might find the land, but couldn’t provide the capital required. A financial institution might provide the financial resources (though would not because of the manufacturer’s lack of liquidity), but wouldn’t provide a guarantor to sign on the note. A general contractor might build the new facility, but couldn’t find the land or provide the financing. Neither the broker, the banker, nor the builder had the expertise to orchestrate this complex transaction. Overland, by contrast, was able to provide all of these services collectively for a price that was less than they would have cost individually. Also, the manufacturer was able to focus their time on running their business rather than on real estate development.

Helping a Manufacturer Expand at the Same Location

A manufacturer needed to expand and wanted to stay in their present facility but did not have enough land available to expand on their own site. The property across the street was vacant and available but the landowner was reluctant to sell. Overland met with the landowner and discovered that the reason for his reluctance to sell was that his basis in the land was so low that he would have to pay considerable taxes upon the sale of the land. The landowner was nearing retirement and wanted to sell but couldn’t figure out how to convert his raw land into income-producing property.

Overland found another income-producing property for the landowner and was able to facilitate a 1031 Tax-Deferred Exchange. Overland loaned the manufacturer the money they needed to facilitate the exchange. The manufacturer was then able to acquire the land to expand directly across the street from their current facility. Overland hired the architect and engineers, guided the project through the development phase, obtained the construction and takeout financing, and constructed the facility.

By using Overland, the manufacturer was able to get the new facility they needed in the right location without having to spend their own time on land acquisition, development, financing, and construction.

Helping a Landowner Develop an Apartment Complex in a Historic Area

A landowner had spent considerable time assembling a site for the development and construction of a large apartment project. However, they were unable to get permission from the Historic Landmarks Commission to demolish some of the old buildings on the site.

Overland entered into a joint venture with the landowner, designed the project, and obtained the needed approvals through the Historic Landmarks Commission by going through the Economic Hardship process for several of the buildings. Overland was able to get the land rezoned to a higher density and persuaded the building department to allow the top floors of the seven-story building to be constructed of wood rather than concrete and steel by providing documentation of a similar project in Seattle, Washington.

By using Overland, the landowner overcame objections to the development and also saved a considerable amount over the cost of using concrete and steel. Not only did the material cost less, but it was lighter weight, which reduced the cost of structural support throughout the entire building. Overland also assisted with the development, financing, and construction of the project.

Helping a Landowner Overcome Contaminated Soil and Build a Successful Project

A landowner had a parcel of land with contaminated soil in a good location but was unable to find a cost-effective solution to dealing with the contamination so that they could develop the property.  Through considerable effort and political persuasion, Overland was able to persuade a nearby landfill that had the ability to remediate and store it to take the soil. Overland excavated the site and entered into a joint venture with the landowner to develop, finance, and construct a multifamily project. Rather than filling the excavated site with compacted fill, Overland designed a project that took advantage of the huge hole that had been created by putting an underground parking garage below the building. Then Overland met with the building department and persuaded them to allow a five-story structure to be built on the site with four floors constructed of wood rather than concrete and steel, saving the owners a considerable amount in construction costs.

By using Overland, the landowner turned a contaminated site into a valuable property with a building constructed at minimum cost.

Joint Venturing a Retail Project with a  Landowner

A landowner had worked for over a year assembling a site, borrowing money from a local bank to finance the land acquisition, completing architectural and engineering drawings, and getting approvals from the city. Finally, when the project was ready to build the landowner did not have sufficient capital to meet the banks equity investment requirement. Overland came in as a joint venture partner and provided the capital to pay off all the bills, keep the property loans current, found an equity investor, constructed the project, leased up and managed the project. The landowner retained an equity position in the completed project which nearly doubled the value of his original investment.

Helping You Solve Your Problem

We could present dozens of stories like these that all make the same point: Overland can find a way to help you accomplish your objectives while saving you time and money and allowing you to focus on what you do best. You can focus on your business and allow Overland the opportunity to do the rest.