Build-to-Lease Competitive Procurement Process For Government Leased Facilities
Wednesday, October 29th, 2008Most government agencies or public institutions today are facing the constant challenge of managing facilities and infrastructure in an environment of limited fiscal resources.
To the extent that government agencies require new, standalone or single tenant facilities, they can be efficiently and competitively procured from private developers/investors on a Build-to-Lease (BTL) basis. Excellent credit quality and sophisticated use of innovative lease provisions are among the key characteristics which allow for efficient underwriting and project financing by private lending institutions. Substantial value stemming from certain inherent advantages possessed by government agencies when competitively sourcing new facilities from private developers/investors can best be harvested for the government agency’s benefit through application of a focused, end-to-end procurement process. The bottom line result is the acquisition of leased facilities at wholesale rather than retail lease rates. This article discusses the features and benefits of the BTL Competitive Procurement Process jointly developed by Colliers’ Integrated Real Estate Solutions Group and the Knighthorse Corporation (IRES / Knighthorse).
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For more information about this article, please contact:
Darrin Kennedy
IRES Managing Director
865 S. Figueroa St., Suite 3500
Los Angeles, CA 90017
213.861.3323
darrin.kennedy@colliers.com
Joseph Faccone
Knighthorse President
3 Bethesda Metro Center
Bethesda, MD 20814
202.412.2535
jf@knighthorse.net