Real Estate Development
Made Simple
Table of Contents
Executive Summary 3
Introduction (How to Use the Guide)
4
Types of Real Estate Development
5
Ground-up 5
Build-to-suit (BTS) 5
Build-to-rent (BTR) 5
Redevelopment / Adaptive Re-use
6
Speculative 7
1. Site Selection / Land Acquisition
8
Glossary of Terms 8
Process10
Determine your goals and the
11
scope of the project
Conduct preliminary due diligence
12
Feasibility study13
Preliminary development budget
14
and financial analysis
Start talking with a lender
15
Draft a purchase agreement
15
How Marsh & Partners Can Help
16
Business & personal strategy deep dive
16
Land sourcing17
Due diligence17
Preliminary site planning
18
Market analysis18
Feasibility19
Preliminary budget development
19
Development proforma
19
and financial analysis
Lending & financing facilitation
20
Acquisition & purchase contract
21
draft and negotiation
2. Pre-development & Land Entitlement
22
Glossary of Terms22
Process24
Site sketch
24
Pre-application meeting /
25
due diligence review
Interview & hire engineers, architects
26
contractors, and consulting services
Civil engineer 26
Architect26
General contractor26
Land-use attorney26
Landscape architect26
Refine development budget
27
Site evaluation requirements28
Title work28
Survey28
Geotech survey (soil study)
28
Environmental site assessments
29
Traffic impact analysis
29
Firm up your site plan
30
Navigate additional land entitlement 30
requirements (if necessary)
Land annexation30
Subdivision31
Lot recombination31
Rezoning31
Conditional use permitting
32
& zoning variances
Utility, road, and landscape approvals
32
Construction drawings and building 32
plan refinement
Site plan submittal and
33
site plan review (SPR)
Construction plan review and approval 33
Pre-leasing (if necessary)34
Permitting & land entitlement
34
Finalize development budget35
Finalize your debt & equity financing
35
A visualization of the municipal review process during this phase
36
Marsh & Partners’ Pre-development Services
37
Project management37
Site sketch & land planning management
38
Pre-submittal meeting lead and attendance
39
Interviewing 3rd party consultants
39
Liaison between the project and municipal offices
40
Design management40
Budget finalization
41
3. Development & Construction
42
Types of Construction Project Delivery Methods
42
Design-build43
Design bid build43
Integrated project delivery (IPD)
43
Glossary of Terms44
Process46
Development & pre-construction meeting
46
Preparatory site work & earthwork
46
Construction staking46
Erosion control47
Land clearing & grading
47
Stormwater47
Site utilities48
Building pad & foundation48
Parking and landscaping - hard & softscape
49
Building construction49
Interior buildout49
Construction management50
A visualization of the municipal review process during this phase
51
Marsh & Partners’ Development & Construction Services
52
Construction management52
Quality assurance53
4. Post Construction/Closeout or Operation & Management
54
Glossary of Terms54
Process55
Construction closeout56
Final construction inspections56
Certificate of occupancy
56
Leasing & property stabilization
56
Loan conversion56
Property management56
A visualization of the municipal review process during this phase
57
How Marsh & Partners Can Help
58
Project closeout services58
Immediate disposition59
Property management59
Marketing59
Leasing services60
Marsh & Partners Development Services
61
Owner’s Representative61
Development Advisory62
Resources63
Print63
Guide to Investing in Real Estate Development 63
Using Syndicated Financing
Real Estate Investment Crowdfunding Guide
63
Media63
Investment Crowdfunding in Real Estate 63
Development - Panel Discussion
Marsh & Partners’ Youtube Channel
63
Web63
Marsh & Partners Deep Dive on Development Topics
63
Marsh & Partners Deep Dive on Investment Topics
63
Marsh & Partners Deep Dive on Small Business Topics
63
How Long Does a Development Take? (A visual timeline)
63
About Marsh & Partners64
Executive Summary
Thoughts from Marsh & Partners principal Matt Marsh
The real estate development process is overwhelming. Mistakes are costly; they’ll add time, cause
headaches, derail projects, anger investors… you get the point.
And the people that need the most help navigating a project - property owners, small businesses,
even seasoned investors - they’re left trying to fumble through the process themselves.
And between you and me, most full-time developers are even flying by the seat of their pants... To
make matters worse, there aren’t many great resources. Since I joined the business, I’ve yet to find
a one-stop shop for all things related to development. I was once one of those guys blindly trying
to navigate my way through the process - making mistakes, wasting time, and asking silly questions.
So I decided to change that - and built this real estate development guide to serve as a roadmap
for your development project. And who knows, I’ll probably even reference it from time to time to
make sure I’m on the straight and narrow, myself.
There’s a lot of information on real estate development out there - some right, some wrong, but
it’s all scattered across the internet. And whoever made it usually doesn’t want to share that info
unless you’re willing to pay. “Hire us, and then we’ll tell you what you need to know,” they say.
Well, that’s not us.
At Marsh & Partners, we’ve always taken a radical approach to the industry. Through education,
true collaboration, and an unwavering focus on strategy, we’ve helped connect the dots for small
businesses and investors in ways they’ve never been able to before.
And by disrupting the status quo, we’ve found we have more fruitful discussions with clients and
achieve better results.
So we’re thrilled to compile this guide and hope you find some value in it.
Introduction (How to Use the Guide)
Don’t let the extent of this guide overwhelm you. It’s meant to be comprehensive but digestible
and easily navigable.
Our development handbook can be broken down into six sections or chapters, bookended by an
introduction and some resources to help plan your next project. However, the meat of the guide
lies in the extensive details outlining the real estate development process.
The development process can be broken down into 4 broad phases:
1. Site selection & land acquisition
2. Pre-development & land entitlement
3. Development & construction
4. Post-construction/closeout or operation & management
In each section, you’ll find a glossary of key terms by phase, an extensive description of the
step-by-step process involved, and a detailed outline of the services Marsh & Partners can
provide at each stage.
We suggest you read and analyze this handbook in bite-sized chunks. It might make sense
to read the guide through in its entirety before you begin a project and then focus on each
section as you’re involved in real-time. It’s important to understand conceptually where
each step fits into the larger picture, but you don’t want to get lost in the details.
The Marsh & Partners team has extensive
real estate development experience in
various product types and submarkets. This
experience affords us the flexibility to offer
real estate solutions customized and catered
to your business and investment needs. An
overview of our development services can
be found near the end of this guide.
Types of Real Estate Development
Ground-up
Ground-up development is simply the development and
construction of a property from scratch. It can be achieved by
developing raw land or tearing down an existing structure and
building on a “scraped” lot.
The ground-up development process involves all aspects of real
estate development, from acquiring a site to permitting and entitling
the land, developing the land, and constructing a building. These
projects can take years to complete but offer businesses an
opportunity to build custom real estate and often provide investors
lucrative returns.
Build-to-suit (BTS)
Build-to-suit development is an arrangement where a commercial
building is custom designed and built for a specific end-user. The
operating company (tenant) leases the space back from either the
developer or an investor. There are two types of build-to-suit
arrangements:
1. Developer-led: An operating company will hire a
development company to manage the project - a developer will
acquire the land, finance the project (or syndicate funds from
investors), and govern the construction and risk. The operator will
then lease the space from the developer.
2. Sale-leaseback: An operating company will assume the
responsibility for the development, from site selection to financing
and through construction. Once complete, the operator will sell the
building to an investor and subsequently lease back the space.
Types of Real Estate Development
Build-to-rent (BTR)
Build-to-rent is a type of real estate development where
single-family homes are built specifically as rental properties.
So instead of developing properties for owners to purchase, the
houses would be sold directly to investors.
When underwriting a BTR project, there are several questions a
developer needs to consider before greenlighting a project:
1. Do the all-in development costs make sense from
a rental rate perspective?
2. Where is demand from a tenant perspective?
3. What is the durability of rental rates?
4. Can I achieve economies of scale?
Build-to-rent is often described as the nexus between two investing
strategies - the traditional single-family rental investing model and
multifamily investing.
Redevelopment / Adaptive Re-use
Property redevelopment refers specifically to the development of
a site that has already been improved or built upon. Redevelopment
can include the refurbishment or renovation of existing buildings,
the demolition of current structures to make room for the
construction of new ones, or the addition of building density to
a site.
Adaptive re-use, however, refers to the process of taking an old
building or site and re-using it for a purpose other than what it was
initially built for. The conversion of an old or obsolete property
allows a real estate developer the opportunity to achieve a higher
and better use for the site.
Types of Real Estate Development
Speculative
Speculative development is the process of purchasing a piece of
land and engaging in a development project without a committed
end-user. The developer or investor believes that the space will be
rented quickly after completion because of positive underlying
market fundamentals and rental demand.
Speculative development can be ground-up, or it can be an
adaptive re-use/redevelopment. Unfortunately, these projects are
often much more difficult to finance than a traditional development
- in many cases, lenders will require at least 50% or more
sponsorship equity, possibly in addition to some pre-lease
agreements, before they’ll lend on a project.
1. Site Selection / Land Acquisition
Glossary of Terms
Buildable area
the portion of a parcel or land site that can be devoted to buildings and structures
Capital markets
financial markets where long-term debt and equity instruments are bought and sold.
In real estate, capital markets generally refer to individuals or institutions that invest
directly or indirectly in real estate
Capital stack
refers to the various types of debt or equity financing that are used to fund a project
Density
refers to the number of building units in a given land area or the total floor area of
buildings divided by the land area of a given lot
Due diligence
site investigation into various aspects of a property. The process of due diligence is an
opportunity for a buyer to identify, investigate, and assess the facts and risks associated
with purchasing a property
Feasibility study
a study of all relevant considerations during the process of determining the viability of
a project or development
Financing refers to the type of funding (debt/equity) or capitalization for the project - can include
cash, syndicated financing, crowdfunding, private placement, joint venture, hard money,
and traditional funding, etc
General partner
in private equity and real estate transactions, a general partner often refers to the investment
(GP)
firm or the project sponsor. Responsible for aggregating investment opportunities
GIS GIS or Geographic information system is an online framework that captures, aggregates,
and analyzes spatial and geographic data
Highest
the concept of maximum economic utility, highest and best use refers to what is legally
and best use
permissible, physically and financially feasible, and maximally productive for a particular
site Internal rate of return (IRR) - the annual rate of return that an investment is expected
to generate
Land broker a land broker is a real estate agent specializing in purchasing and selling raw and
undeveloped land. They’re experienced in the land acquisition process and are often
conversant in land use and zoning matters
Limited partner
limited partners are investors that generally carry no personal liability and have a passive
role in the management of an asset
Opinion of value
most vacant land appraisals will use the sales comparison approach to determine a
/ appraisal
property’s value. An opinion of value is similar to an appraisal but cheaper and less
comprehensive
Permitted use
refers to an owner’s permitted land and structure use given existing zoning and
/ by right use
municipal regulations
Preliminary a rough estimate of development costs based primarily on historical data, educated
development
conjecture, and 3rd party estimates
budget
Proforma
a financial statement based on assumptions that is meant to project financial
performance over a specified time horizon
Project scope
the defined features and functions of a project, along with a predetermined set of
stakeholder requirements and project deliverables
Purchase the contract or offer to purchase the property or multiple properties
agreement (offer)
Raw land unimproved land that does not have utilities, may not have easy access to utilities, and
may not be reachable via paved roads
Site selection
the overall process of examining multiple land options, conducting a feasibility analysis, and
determining the relative merits and drawbacks of each particular site
Topography
refers to the natural & artificial land features of an area, inc. slope, elevation, rivers, lakes, etc
UDO
a unified development ordinance (code) serves as a policy instrument and outlines
traditional zoning and subdivision regulations along with additional rules concerning the
use and development of land and buildings
Use table refers to the table of allowable uses that are allowed based on a parcel’s zoning regulations
(principal use tables can be found in a municipality’s UDO)
Utilities
a site’s utilities refer to any power, electric, water, and sewer utilities that are available at a site
Vacant land improved or unimproved land that does not have a structure and often has access to utilities
Zoning when a governing authority delineates land into “zones” and regulates how property can
be used and developed within those areas
Process
Site selection is the first step in the real estate development process. But proper site selection
doesn’t happen naturally. Instead, it follows a strict set of planning and feasibility guidelines to help
enable the overall project’s success.
The process of site selection can be broken down into several steps:
Determine your goals and the scope of the project
If you’re a small business, developer, home builder, or investor, a successful project will be contingent on your unique set of planning considerations. In other words, what works financially for a
manufacturing company will probably not work for a speculative commercial real estate investor.
Many developers think that land is infinitely malleable and that they can work a site until it meets
their every need. In reality, most successful projects begin with a clear scope, and that scope must
be overlaid across all available land options.
Backward planning offers a framework for the site selection process - first determine your goal or
desired end state, then work backward to develop a plan of action. This plan of action will inform
a set of requirements that will ultimately determine your site selection search.
But what ultimately informs your real estate development goals? Your business strategy, of course!
The first step will be to deconstruct your real estate and business strategies to understand better how to align
your decision-making process. There are a couple of critical questions you should consider:
1
2
What are your personal and short-term business tactics vs. long-term strategy?
a. Are they nested and working in concert?
What are your personal and professional long-term goals? Family, retirement,
cash flow, etc
.
3
4
What are your business’s 5, 10, & 20-year growth projections, and how do they
impact your real estate decisions? Space, location, quality, etc.
Based on your business’s operating margins, what kind of development
arrangement makes sense
5
6
7
If you’re an investor, will you need to pre-lease space to secure funding, and
does the localized market support that?
What does your balance sheet say about your capital structure, and how might
that impact your project?
Does your top-line growth impact other variable business functions? Headcount,
space requirements, capital equipment, etc.
8
Are your business and real estate strategies adequately aligned?
9
Can your business support continual investment in growth activities regardless of
10
your development decision?
How can you best optimize your facility to support your operations?
This certainly isn’t an exhaustive list of strategy questions you need to be asking yourself.
But you get the idea - it’s a good place to start.
The most important thing to remember is not to try to make a piece of land fit your needs. First, determine
your goals and then narrow the project’s scope. Finally, once you’ve established a scope, codify your planning
requirements that will serve as the project foundation for the duration of the development process.
Conduct preliminary due diligence
Much can be gleaned from a site before you have to spend money on any formal due diligence activities. Resources like GIS or a municipality’s UDO will offer insight into a project’s feasibility and any specific ordinances that may
govern your development.
Most land or property owners probably don’t want you conducting formal or invasive due
diligence investigations until you’ve purchased an option on a site anyway.
Several items should be assessed
to determine initial site feasibility:
1
Does the zoning support your proposed use?
If not, what’s the municipality’s process to rezone a property?
2
Generally, is the site large enough to accommodate
your proposed building area needs?
3
Are there major topography issues that might disrupt
or add significant costs to development (streams, flood zones, elevation changes, stormwater, wetlands, etc.)
4
5
Are there utilities on-site or near the site?
If you’re “forced” to close on a property, is there a
viable exit plan
6
What are the primary avenues of ingress and
egress on the property?
7
8
What are the site’s visibility and traffic count statistics?
Submarket demographic statistics
Preliminary due diligence won’t answer all your questions, but it should offer a minimum confidence threshold that
a site is worth pursuing further. Once a property is under contract, you’ll have the opportunity to pursue a more
extensive site evaluation.
Feasibility study
A feasibility study is a fancy way of determining whether a project makes sense, both financially and strategically.
Think of a traditional business plan. You need to outline the overall situation, determine the gaps in the marketplace, offer a proposed solution, and then codify the resulting financial outcomes.
A real estate development feasibility study should offer a roadmap for the potential project by assessing all
site investigation, research, and preliminary due diligence items against potential problems and their financial
implications.
It will provide a predictive analysis of the success of the overall project and the probability of various outcomes.
And ultimately, it will weigh that analysis against competitor data, municipal specific requirements, demographic
trends, and macroeconomic considerations - you’ll have much more insight into the practicality of a development.
Preliminary development budget and financial analysis
Building a preliminary development budget is never an exact science - but it’s a valuable exercise. They are often
made using historical data, educated conjecture, and some 3rd party estimates. The preliminary budget begins as a
living, breathing document, and as the development progresses, it begins to solidify.
The first step in building a budget is understanding all relevant inputs and construction costs for each phase. Remember, cost breakdowns will fluctuate contingent on the type of real estate you want to develop - medical office
or lab space will demand more expensive finishes than an industrial product.
The next step is to roll all applicable development costs into a proforma to assess the project’s projected financial
performance. It’s essential to include all significant items discovered during preliminary due diligence and feasibility they’ll incur expenses and are relevant to profitability.
The proforma will provide a financial analysis that will estimate the project’s yield - the percentage return a real
estate developer and investors should expect to see.
Start talking with a lender
There are various ways to finance a development project,
but it differs from applying for a traditional residential or
commercial mortgage.
The terms and type of financing are primarily driven
by the proposed land use and type of project.
Cash, syndicated financing, crowdfunding, equity placements,
joint ventures, bridge and mezzanine debt, hard money, and traditional funding - these are all viable forms of financing for
a development project. They can be used singularly or in with
one another. Still, it’s essential to understand that the riskier
or more speculative a project is, the more complex and
more expensive it will be to finance.
If you anticipate the need for traditional development/construction funding, you’ll need to start the conversation
early. A bank will require a certain amount of confidence in the project before it will release funds. They’ll need
extensive due diligence materials, time to underwrite the project, & comfortability with both you and the developer.
Creative capital market solutions have even paved the way for small-scale developers and investors to bridge gaps
in their capital stack - development is no longer strictly the domain of the ultra-wealthy or well-connected.
A developer’s experience and track record, and an operator’s balance sheet will also be important when
fundraising for a development project.
Draft a purchase agreement
If you’re not well versed in the land transaction business, it probably makes sense to enlist the services of a land
broker. Even if you’ve bought and sold land or developed property, outsourcing the work to a quality land broker
can help free up your time to focus on other aspects of the project or your core business.
The purchase agreement needs to be comprehensive. As the buyer, you’ll want to afford yourself enough time to
properly assess the feasibility of the site, navigate any applicable ordinances and regulations, and determine if it can
accommodate your project.
Most landowners aren’t keen on having their land “tied up” for long periods, especially with a developer just interested in kicking tires. Emotional intelligence is key to a mutually beneficial agreement - but by properly
managing expectations, you can balance the owner’s motivations and give yourself enough time to research and
lay the groundwork for a successful project.
How Marsh & Partners Can Help
Marsh & Partners offers various site selection & land acquisition services in an advisory and lead developer role.
This is not an exhaustive list of services but provides a glimpse into how we can help get your project launched.
Business & personal strategy deep dive
If the site selection process begins by determining your goals, then the process to flesh out your goals needs to
start with a strategy session.
We’ll cover everything from your personal aspirations and business strategy to the minutiae of space planning
and your balance sheet in that strategy session. We’ll then overlay those goals across possible project types and
financing strategies - all to craft the optimal type of development for your requirements.
Marsh & Partners will challenge you. We’ll likely ask you questions about your business that haven’t been asked
before - because the keys to understanding the nuance of real estate and business strategy alignment cross over
so many traditional disciplines that most people don’t think about real estate development that way.
Once your strategy is distilled into an action plan, we’ll have the foundation for the rest of the project.
Land sourcing
Land adheres to the economic principle known as scarcity - they aren’t making any more of it, and it’s only getting
more expensive. And the real estate owners know that, so when land is listed, it’s usually overpriced, and you’re
sure to face stiff competition. But then, how can you find great opportunities before others do?
Marsh & Partners can help source land opportunities before they ever hit the market. Our highly effective direct
outreach methods and proprietary inbound marketing techniques often yield quick success. We also leverage our
extensive network of local landowners and land brokers to help find quality off-market opportunities as well.
Due diligence
Marsh & Partners will take the lead on all preliminary site investigation work, from code/ordinance research and
zoning to utility and site analysis. We’ll assess the initial feasibility of a site from the perspective of buildable area
and possible land uses. Marsh & Partners will make initial contact with applicable municipal authorities to determine the viability of the project proposal.
We’ll then offer an opinion on the site’s highest and best use and deliver an assessment of 2-3 possible proposed
land uses that would suit your desired project end state.
Preliminary site planning
Market analysis
We’ll help prepare a conceptual site sketch for the
The market analysis will include an analysis of micro and
existing site (before you spend any money on a civil
macroeconomic conditions impacting the specific
engineer to determine the initial layout and feasibility.
regional submarket and larger geographic area. Key
The site planning sketch will examine and account for
market indicators will include:
all investigated due diligence items and
municipal codes. It will serve as a minimum viable
product (MVP) to determine initial site layout
feasibility.
Site planning will help identify primary and secondary
site cost drivers that could significantly impact a
development budget (i.e., large retaining walls, rightof-way improvements, stormwater collection, etc.).
Additionally, we’ll be able to identify possible “show
stoppers” or roadblocks that may derail or slow a
project.
• In-migration statistics
• Absorption and occupancy statistics by product type
• Key competitor trends
• An analysis of other real estate
developments in progress
We’ll also drill down on project-specific indicators, like
comparable land sales data, replacement cost comparison, and the proposed project comparable sales data
over the project’s projected time horizon.
A market analysis will provide much more insight into the
economic feasibility of a project.
Feasibility study
Our feasibility study will take the market analysis one
Development proforma and
financial analysis
step further. We’ll overlay all market analysis, financial
Creating a comprehensive real estate development
considerations, due diligence, and project-specific
proforma early in a project is critical for a couple of
requirements to assess the practicality of a project
reasons. First, you’ll want to compare a project’s
from a likelihood of success and return on
anticipated returns against any IRR or return benchmarks
investment perspective.
you may have established for the project. Also, any
Marsh & Partners will analyze the strengths and
weaknesses of your proposed project, offer
recommendations to improve its positioning
lenders or outside investors/limited partners will need
to be comfortable that a project will be profitable - and
that all starts with a financial analysis.
and codify those recommendations in a detailed
Marsh & Partners can solve all your financial modeling
feasibility analysis to assist your capital budgeting
needs. From building a proforma to modeling cash flows,
decision making.
debt, valuation, and project profitability, you’ll have
everything you need to take to an investor.
Preliminary budget development
To build a proforma, we’ll also incorporate all relevant
The first step in building your development budget is
development costs, current market data (rental rates,
understanding the relevant inputs. But if you’ve never
vacancy statistics, etc.), and projected future market data
tackled a development project before, that’s near
at the time of project exit. If needed, we’ll even help you
impossible.
structure complex general partner/limited partner
Marsh & Partners uses actual 3rd party cost
estimates and historical data from recent projects
as the baseline for building a preliminary budget. In
addition, we’ll account for price inflation, the future
prices of the material and labor inputs, and add a
contingency buffer to deliver as accurate a budget
assessment as possible in this stage of the process.
We’ll break down soft and hard costs by phase of
the project, and account for acquisition, carrying, and
project exit costs.
financing agreements - cash-on-cash, preferred return,
and catch-up waterfall structures.
Lending & financing facilitation
It can be challenging to navigate the process of acquiring development financing. If you already have a preferred
lender, Marsh & Partners can help meet any 3rd party loan requirements for both a land loan and development
financing. If you don’t have a
preferred lender, we have a network of available
options specializing in working with specific clients
for different kinds of projects.
Marsh & Partners has extensive experience securing alternative means of financing and simplifying capital markets
transactions. We can help facilitate acquiring the various types of debt and equity financing that may be necessary
to complete your project - from crowdfunding and syndicated financing to private equity.
Site Selection & Land Acquisition
This stage is the most speculative and risky during a project
– it typically includes initial due dilligence, feasibility studies,
site evaluation, and an environmental assessment
Equity & Land Loan
Pre-development & Land Acquisition
Pre-development includes developing a site plan, any land rezoning
or subdivision requirements, and navigation the approval and
permitting process. The uncertain outcome of a process like rezoning
can make this stage risky. Conventional debt sources may be
comfortable lending after site plan approval.
Equity or a Construction Loan
Development & Construction
This stage includes all land development and construction
activities. By this phase in the project, all municipal permits have
been obtained and a project is approved. Any construction loads
are paid out as draws during the construction process.
Equity or a Construction Loan
Post-Construction & Operation
Following construction, the developer will either employ their exit
strategy or property management plan. As an asset has been
stabilized (reached a certain occupancy threshold) most
operatorscan convert a construction loan to some other form of
permanent debt financing.
Equity or a Permanent Operating Loan
<<<
The graphic highlights the different types of financing you’ll likely encounter during different phases of the project.
Acquisition & purchase contract draft and negotiation
We can also help you structure and negotiate your land contracts. All too often, inexperienced developers or
investors won’t leave themselves enough time before they commit non-refundable money, or they’ll close on land
too quickly.
You’ll want to tie money commitments to significant milestones during the pre-development and structure the
transaction to close when you’re confident.
Negotiating with landowners is a unique process as well - even if you have experience transacting real estate, you’ll
want someone with expertise on your side. In addition, land may have been in a family for generations, so deals
require a certain level of emotional intelligence to get across the finish line.
Marsh & Partners has experience negotiating land deals in a brokerage capacity, as an owner’s development
representative, and our personal development projects.