Acquisition and Disposition
PMI professionals work with land and building buyers/sellers to either acquire or dispose of properties. Once engaged, the process involves the following:
PMI professionals work with land and building buyers/sellers to either acquire or dispose of properties. Once engaged, the process involves the following:
- For acquisitions, the process begins by delineating the detailed specification noting the size of the parcel or building, the geographic area of interest, and the timing of when needed
- For dispositions, the process begins by determining the property’s “highest and best use” based on the market conditions that exist at the time
- Once determined, a market plan is developed to set out the strategy of how to market property or how to locate the best acquisition target. Each assignment involves searching the properties on the market, as well as accessing other potential solutions that might not be on the market at the time
- After developing a list of potential solutions, PMI professionals use their intimate knowledge of the market to counsel sellers and buyers as to what a “market” deal entails. From there the solicitation process begins
- The solicitation involves obtaining offers from all potential buyers or submitting offers on potential acquisitions
- Next, the PMI team advises the client of the best way to structure a transaction. This includes pricing, terms, earnest money, due diligence period, etc.
- In all purchases, PMI professionals provide council and suggest experts for the environmental, structural, entitlement, and other details of the property
- From there, a contract is negotiated and, after an appropriate due diligence period, the transaction closes
- For acquisitions, PMI professionals will assist the client with any building or entitlement issues to prepare the property for the client’s needs