Ciropic is a real estate development and advisory services company, headquartered in Georgia, focusing on workforce and senior affordable housing, multifamily, mixed-use, office and economic revitalization projects. Our Senior Management team has more than 120 years of combined experience.
Our core strengths are in:
We work with owners and investors to bring their vision to the market, helping them identify property sites, based on their concepts and property and business needs. We also recognize market place voids and needed product/service solutions, conceptualize deliverable solutions, and present concepts to business owners and investors for their own development. We aid our clients, as needed, in further developing and establishing the concept in numerous ways, creating business cases and modeling the data, to help the client objectively evaluate the concept. With either approach, we help solve our client’s space needs, evaluating possible locations and functional needs assessments, conducting the submarket trend and demographic analysis, and considering new buildings coming on-line in the submarket, in the context of their existing business model.
We begin with marketing research and analytics, to understand the market and the position, pricing, and promotion strategy of the subject property, to determine if value can be added and how efficiently and effectively it might be done. If hurdles exists that suggests a “No-Go, then we provide those insights. If there is a “Go” decision, then we move to developing a marketing plan and an implementation strategic with time, scope, and costs criteria, with an end goal of developing an agreenupon plan to market property and/or verticals on subject property, with results tracking and reporting.
We team with strategic partners and/or we connect our clients with them as needed to get the job done. We recognize what we do very well, and we connect and collaborate with other professionals on a case-by-case basis or an on-going basis, to bring skills sets, funding, and other resources to complement our team.
Our team members have a plethora of banking, underwriting, deal structuring, accounting, tax planning, financial analysis, and packing experience. Our team members have syndicated partnership deals, prepared and pitched investment decks, raised money through private placements, and so much more. Quite simply, we stand apart from the competition in analyzing ROIC and cash yield on various property types.
Throughout the process, in providing services, we look to create value for stakeholders, adhering to our core strengths.
Land is finite. On each parcel of land, an asset may be constructed for a host of reasons. Operators may construct an asset to conduct business operations, and investors may construct an asset to produce an investment yield. While the asset might be constructed for different reasons, ultimately cash flows will be directly or indirectly produced from the asset. Operators have both a going concern value and real estate value for assets that they own. If the asset is not owned by the operator, then the going concern value is impacted by lease payments made to the owner. In short, value is impacted. Investors too have value in the assets that they own, as they receive rental payments for leasing their assets. In short, constructed assets are an asset just as much as a stock or a bond, with a series of cash flows from the asset. We understand that there are 6 material items that drive value, which are (1) market rental rate (2) lease probability renewal (3) rent growth rate (4) tenant improvement costs (5) vacancy loss and (6) capitalization rate and discount rate.
We take the time to understand the sensitivity of these items in the transaction, to understand and communicate the range in value of the asset to the stakeholders, and work with our team to maximize value of the project, again, adhering to our core strengths.
Our Expert Team
Principal - Construction & Development
Principal - Construction & Strategic Partnerships
Principal - Banking & Affordable Housing Finance
Principal - General Counsel
Broker & Principal - Acquisitions & Investment Sales
Principal – Acquisitions, Development & Investments