Development Advisory

Simaan Real Estate provides development advisory for commercial real estate projects, with a focus on Florida. We advise throughout the full development lifecycle, from initial site evaluation, feasibility, and underwriting through leasing, stabilization, and disposition. We can also join at any stage for a defined assignment. Working across commercial property types and business plans, we help developers evaluate project concepts, pro formas, tenant and lease strategy, capital structure, timing, valuation, and exit strategy. We have particular experience advising merchant developers while also supporting projects intended for long-term ownership.

Who We Advise

We advise developers, owners, and investors pursuing ground-up development, redevelopment, property expansions, and the repositioning of existing commercial assets. Engagements may support merchant developments intended for sale, projects planned for long-term ownership, or a specific task within a broader development plan. Our work spans commercial property types, with particular experience in net lease and retail projects.

When to Involve Us

Early involvement allows us to help evaluate the site, development concept, underwriting, tenant strategy, lease structure, and potential exit before major commitments are made. However, an engagement can begin at any stage. We can provide full lifecycle guidance or step into an existing project to address a specific decision, assignment, or challenge.

Site and Project Strategy

We help developers evaluate potential sites, acquisitions, and development concepts before major decisions are made. Our work may include site-selection guidance, acquisition evaluation, highest-and-best-use analysis, and business input on site plans based on current tenant and user requirements. When needed, we can also provide market and demand analysis and coordinate zoning and entitlement strategy with the developer’s attorneys, planners, architects, and other professionals.

Feasibility, Pro Forma, and Underwriting

Development decisions require disciplined financial analysis. We prepare and review feasibility analyses, pro formas, and underwriting that consider development costs, rents, operating expenses, lease-up and absorption, financing, timing, stabilized value, and projected returns. We evaluate the performance and return measures relevant to each project, then test how changes in costs, rents, financing, timing, or exit capitalization rates could affect the results. As the development progresses, we update the analysis and recommended business plan to reflect new information and changing conditions.

Tenant and Lease Strategy

We help developers align tenant and lease decisions with the project’s broader business plan. This includes tenant-mix strategy, tenant placement, tenant-credit evaluation, and guidance on rent, lease length, increases, renewal options, tenant improvements, delivery conditions, guaranties, and landlord obligations. We consider how each decision may affect lease-up, financing, operating performance, valuation, the expected buyer profile, and the project’s eventual exit.

Capital Structure, Timing, and Coordination

We advise developers on financing and capital structure, including leverage, loan terms, debt and equity requirements, and financing timing. We also help evaluate project phasing, development schedules, and the sequence of major decisions. When needed, we can introduce potential capital sources and coordinate with lenders, attorneys, architects, engineers, contractors, planners, and other professionals to help keep the project aligned with its underwriting and business plan.

Stabilization, Valuation, and Exit Strategy

As a project approaches completion, we help developers define and plan for stabilization based on leasing progress, operating performance, and management requirements. We continually reassess value as construction, leasing, financing, and market conditions change. We also help compare hold, refinance, reposition, and sale alternatives, then advise on pricing, timing, expected buyer profiles, transaction expectations, and the potential effect of future market conditions.

We can handle the brokerage requirements associated with a development from acquisition through disposition. Depending on when we become involved, this may include site or property acquisition, project leasing, tenant outreach, investment-sale marketing, buyer outreach, offer and letter-of-intent negotiations, due diligence, and closing coordination. This allows the project’s brokerage execution to remain connected to the underwriting, lease strategy, valuation, and business plan that guide the development.

Brokerage Execution Across the Development Lifecycle

Advisory for Merchant Developers

Merchant developers are a particular area of focus for Simaan Real Estate. We work backward from the anticipated disposition to evaluate how the site, tenant profile, lease structure, development costs, timing, and stabilization may affect value and marketability. Our guidance may include pro forma and underwriting analysis, pricing and cap-rate guidance, lease-term recommendations, tenant-credit evaluation, expected buyer profiles, transaction timing, market expectations, and disposition strategy. When the project is ready for sale, we can execute the marketing and disposition process through closing.

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Our Development Advisory Process

Our role is tailored to the project. We can advise throughout the full development lifecycle or focus on a specific stage.

  • We begin with the developer’s goals, existing commitments, intended hold period, return requirements, timing, and current project status.

  • We assess the site, concept, feasibility, underwriting, market conditions, risks, and potential outcomes relevant to the assignment.

  • We help establish the business plan, tenant and lease strategy, capital structure, project timing, stabilization requirements, and exit alternatives.

  • We update the analysis as conditions change, coordinate with the project team when needed, and handle the applicable acquisition, leasing, or brokerage work.

  • We reassess value and advise on whether to hold, refinance, reposition, or sell. When a sale is selected, we can execute the disposition through closing.