National Real Estate Development
Led by a management team working collaboratively since 2000, National Real Estate Advisors, LLC (National) has honed a specialized build-to-core strategy and established a unique open-end real estate fund to invest in modern assets, located in major U.S. urban markets. The company takes a patient, long-term investment view, developing and re-developing properties at appropriate points in the real estate cycle, always seeking to create modern, technologically advanced assets for its portfolios, to outperform older properties competing for tenants. Operating throughout the entire capital stack, National invests equity and lends debt—providing its development partners a range of flexible financing solutions—preferred equity, mezzanine debt, senior debt, construction loans, and credit enhancements. Relationships with many leading developers give National opportunities to participate in some of the country’s most recognized projects, while the company can also utilize in-house expertise to develop projects on its own or with others. While seeking to ensure quality construction in often complex projects, National has delivered solid long-term returns for its pension fund clients.
National’s investment approach employs a consistent build-to-core model suited to navigate the inevitable ups and downs of the property cycle:
- Focus on leading U.S. urban markets with barriers to entry, diversified economies, mass transportation networks, intellectual capital, and growth drivers—demographic and business
- Identify prime development opportunities, working with experienced developers or directly through our in-house development group
- Carefully undertake pre-development and budgeting, waiting for the right market opportunity to begin construction
- Employ equity and debt structures seeking to maximize investor returns and hedge risk; use debt prudently on a portfolio basis
- Make midcourse corrections to sustain projects, wait out market hiccups if necessary – well-conceived, high-quality projects in prime locations can ultimately realize potential
- Lease and manage to maintain high occupancies at market leading rents
- Look to sell assets at peak values over time
PUTTING INVESTMENTS TO WORK
National has the experience and expertise to develop on its own or engage leading development partners in its often transformative, vanguard real estate projects.
- A specialized build-to-core strategy offers the potential for solid investment returns from recently constructed assets that seek to compete in the nation’s top urban markets
- Investors benefit from an existing, diversified fund portfolio including modern income producing core properties with opportunity for further value creation from new projects
- An experienced investment team has the expertise to conceive and deliver complex developments successfully
- The company’s ability to invest up and down the capital stack can enhance project outcomes and investment performance
- The firm’s patient, long-term investment perspective seeks to produce competitive returns over time through market cycles
National develops high-quality, modern assets in leading urban markets to lease and hold as income-producing core investments in its open-end, core-plus fund.
Immediate investment participation in a portfolio including Class A real estate diversified by property type and geography.
Income component from cash flows of well-leased core assets including certain stabilized properties.
Opportunity to realize appreciation from development and redevelopment projects, seeking to deliver product below cost of existing assets.
Measured use of equity and debt throughout the capital stack helps mitigate fund risk through various market cycles
Ongoing development projects continually expand the portfolio with modern assets which seek to attract and hold tenants, grow income and increase appreciation.
Hold/sell reviews identify potential existing assets for disposition at opportunistic time.
National has established a development subsidiary, National Real Estate Development, LLC, with the expertise to develop and manage its own projects, as well as to provide technical expertise and oversight of joint venture developments.
Current projects totaling 1.1 million square feet and $390 million in development cost
Since 2000, the senior officers of National have participated in development projects totaling an estimated $11.6 billion in cost, comprised of more than 30 million square feet of space with another $2.8 billion in projects under review and planning2
Leading developers and lenders value the firm’s organizational stability, integrity, and commitment to enduring relationships built on realizing project success
Ability to oversee parts of projects where partners lack the expertise or experience.
National provides advisory and consulting services to clients and partners:
- Strategic analysis to restructure existing real estate portfolios
- Asset financing and refinancing
- Restructure/recapitalization of troubled portfolios
- Transfer of assets to/from commingled funds or separate accounts
- Asset and portfolio takeover and transition
- Oversight and management of new construction and redevelopment projects (National Real Estate Development, LLC)
900 Seventh Street, NW, Suite 600, Washington, DC 20001
Main Number : 202.496.3370 | Fax Number : 202.467.9464
For Investor Relations Inquiries:
Heather Fernstrom Border
Managing Director, Investor Relations
Email: [email protected]
Director, Investor Relations
Email: [email protected]
For Press Inquiries:
Corporate Marketing/Communications Manager
Email: [email protected]
URL : www.natadvisors.com