Commercial Real Estate
The five points below represent Kevlar’s strict requirements a Developer must to meet successfully underwrite + finance a CRE project.
EXPERIENCED DEVELOPER: the project must have an experienced, recognized Developer or Co-Developer that is institution worthy for credit underwriting.
PROJECT VALIDATION: the project must have a market study with a feasibility report from reputable CRE Firms (i.e. CBRE, JLL, Cushman, Price Waterhouse Coopers) or like institutions.
CONTROL OF DEVELOPMENT PARCEL: the project must have a signed sales purchase agreement (SPA) or land that is purchased and owned with signed documents for review and verification of warrants and representations.
ARCHITECTURAL DESIGN: the project must have architectural drawings ready for submittal to municipality.
PERMITTING ENTITLEMENTS: the project must have all entitlements completed or achieved within ninety (90) days or less.
Note: The final negotiated deal terms cannot be identified as they are subject to considerations and market factors that once the underwriting and due diligence process is completed.
Infrastructure, Privately
Owned Utility District
The seven points below represent Kevlar’s strict requirements a Developer must meet to successfully underwrite + finance an infrastructure project.
EXPERIENCED DEVELOPER: the project must have an experienced, recognized Developer or Co-Developer that is institution worthy for credit underwriting.
PROJECT VALIDATION: the project must have market study and feasibility report from reputable audit firms (i.e. KMPG, Price Waterhouse Coopers, BDO) or like institutions with proven, scalable technology that is economically sustainable without the availability of carbon credits, tax credits, or government subsidies.
CONTROL OF ASSET/ FACILITY: the project must have control of the existing asset where the infrastructure project will built, or a deal negotiated with signed documents for review and verification of warrants and representations.
ENGINEERING & FACILITY DESIGN: the project must have a complete engineering and facility design ready for submittal to municipality.
PERMITTING ENTITLEMENTS: the project must have all entitlements completed or achieved within two (2) years or less.
UTILITY DISTRICT STRUCTURE: the project Developer must embrace a proper utility district as a structure to ensure that the operations and revenues can be scaled. The investment must be structured as a private / public partnership with private investment capital to fund, own and operate the new infrastructure systems under a UaaS or IaaS platform.
COMPREHENSIVE BUSINESS PLAN: the project must have a comprehensive business plan and ten year pro forma that is worthy of credit underwriting.
Note: The final negotiated deal terms cannot be identified as they are subject to considerations and market factors that once the underwriting and due diligence process is completed.