OWNER REPRSENTATIVE SERVICES
Always keeping the long-range project goals in mind, Hogan Brothers can assist at any point from the beginning of a project – such as overall conceptualizing of a project, design, construction, permitting, building the team, raising equity and debt financing, or identifying and structuring joint ventures and strategic alliance to the final stages of project opening.
Hogan Brothers services are a function of three distinct development stages that each project must undergo:
1. Pre-Development and Conceptualization
2. Financial Advisory Services
3. Development Management Services
I. Pre-Development Services
As owner’s representative, Hogan Brothers begins its advisory services early in the planning process, where it is actively involved in the evaluation of the development potential of each project site, based on outlined development goals, regional market data and physical analysis of the site. These predevelopment services can be categorized in the following tasks:
Site Reconnaissance and Market Analysis
• Analysis of the physical characteristics and development capabilities of the site and its environment
• Evaluation of existing and potential demand for the property and its market feasibility
• Preparation of conclusions of development potential for the project based on site and market
opportunities and constraints
Economic Analysis and Conceptual Design
• Review of plans for the project, including architectural and planning recommendations within the scope of the project concept
• Preparation of recommendations for facilities which, in McV Real Estate’s opinion, will best meet demonstrated market demand
• Based on the finding of a Market Feasibility Study, development of a five to ten year statement of estimated annual operating results for each project as proposed and recommended, and presentation of the conclusions of the economic analysis and conceptual design in a formal document suitable for inclusion in a submittal for securing financing, management agreement or franchise affiliation
Preliminary Master Planning
• Review of conceptual plan with government agencies to address their concerns and recommendations during the preparation of the Preliminary Master Plan
• Preparation of preliminary cost estimates for all facilities
• Preparation of revenue projections and absorption for each alternative land use
• Preparation of a cash flow analysis based on cost estimates and revenue assumptions
• Delivery of graphic materials and summary of market/financial analyses to describe project to
Hogan Brothers provides assistance in securing firm loan commitments for development and construction of Projects, by including:
• Preparation of a development package for presentation of the Project to financial institutions and equity sources
• Preparation of construction cash-flow forecasts, pro-forma financial statements and financing packages for the consideration of equity and lending sources
• Coordinating and attending presentations of the Project to financial institutions and equity investors
III. Development Management Services
As Development Manager and Owner’s Representative, Hogan Brothers provides the following services:
In connection with the permitting of each Project,
• Identify the permits needed to build the Project and potential consultants to assist in applying for and obtaining permits.
• Recommend the format for and negotiate on Owner’s behalf (but subject to Owner’s approval and direction) all contracts for execution by and between consultants and Owner.
• Formulate a plan for obtaining entitlements, including communications, community and government relation strategies.
• Implement the plan for obtaining entitlements.
• Coordinate work among the various consultants.
• Cause the consultants to prepare the applications for the permits, file them with the corresponding
agencies and pursue the issuance thereof pursuant to each consultant’s respective Contract with Owner.
• Review and provide to Owner and to the Consultants comments on the applications for the Permit and all
supplemental documentation prepared by the consultants.
• Meet periodically with the consultants to discuss the progress in obtaining the permits.
• Meet with personnel from various government agencies to discuss issues with respect to the applications for the
• Review the terms and conditions of all permits to verify that they are correct and authorize the corresponding
portion of the work.
• Review and approve all applications for payment by the consultants to Owner.
• Inform Owner on a periodic basis of the progress of the services being performed by the consultants.
In connection with the design of each Project,
• Evaluate Projects needs and identify for Owner potential consultants to perform each aspect of Project design.
• Recommend the format for and negotiate on Owner’s behalf (but subject to the Owner’s approval and direction) all contracts for execution by and between consultants and Owner.
• Coordinate the work among the various Consultants.
• Direct the consultants to prepare and coordinate among the consultants a design schedule.
• Cause the consultants to develop the plans pursuant to each consultant’ respective contract with Owner.
• Review and provide to Owner general comments on design intent as shown on the plans.
• Coordinate with the consultants the submittal of the plans to the contractors and their subcontractors.
• Review and approve all applications for payment by consultants to Owner.
• Inform the Owner on a periodic basis of the progress of the services being performed by consultants.
In connection with the construction of each Project:
• Coordinate the services of the Contractors in the construction of the Project and retain a full-time licensed engineer on-site.
• Recommend the format for and negotiate on Owner’s behalf (but subject to the Owner’s approval and direction) all contracts for execution by and between Contractors and Owner.
• Monitor Owner’s compliance with financing agreements.
• Direct the Contractors to prepare a construction schedule demonstrating the order of construction along with
development of the Project including, without limitation, Owner supplied items, Owner supplied labor, and
installation of furnishing, fixtures and equipment.
• Direct the Contractors to prepare and to provide to Owner an estimate of targeted costs, and periodic updates
to such estimates, for the construction, furnishing and equipping of the Project. As the plans are updated, Hogan Brothers directs the Contractors to revise, as necessary, the estimate of targeted costs in order to reflect the impact of the most recent changes
• Report to Owner the defects and deficiencies actually discovered in the construction of the Project by Hogan Brothers.
• Coordinate the Contractors changes in the scope of Work initiated by Owner and/or approved by Owner and/or approved by Owner which may become necessary during the construction and Development of the Project.
• Submit to Owner for approval from time to time the applications for payment and/or invoices for amounts owed to Contractors which have been reviewed and approved and recommend the amounts properly due and payable to Contractors.
• Review with Owner the status of expenditures of development funds expended in the course of completing the construction of the Project.
• Coordinate day-to-day communication among the Consultants, the Contractors and government officials having jurisdiction over the construction of the Project.
• Monitor the status of the permits and any amendments or supplements thereto required from time-to-time.
• Monitor and secure the timely delivery of applicable use permits.
• Oversee the delivery of the Project by the Contractors to Owner.