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Dr. Andrew Rothschild

Dr. Andrew Rothschild. Tucker Bartlett September 24, 2008. Presentation Outline. Scientific Properties background Golden Belt overview Lessons Learned by the Developer. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office.

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Dr. Andrew Rothschild

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  1. Dr. Andrew Rothschild Tucker Bartlett September 24, 2008

  2. Presentation Outline • Scientific Properties background • Golden Belt overview • Lessons Learned by the Developer

  3. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  4. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  5. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  6. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  7. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  8. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  9. historic textile mill campus35 artist studios37 live work loftsLEED-registered30,000 SF retail70,000 SF office

  10. The Structure

  11. Tucker’s Top 10 Closing LessonsThe Speed Points • Select the right team Accountant, lawyer, architect (or historic consultant), lender (and lender’s lawyer), title insurance • Don’t let your “to do’s” slow the process • Start survey, appraisal, insurance asap • Set a hard closing date, mini-milestones, and weekly check-ins • Stay involved and try to understand the issues

  12. Tucker’s Top 10 Closing LessonsThe Other Points Don’t be afraid to challenge the professionals Don’t let the structure drive business decisions Don’t let the structure create taxable income Don’t let the structure let cash out of the deal Negotiate a cap on the legal expenses you pay on behalf of your investor and lender

  13. Think About the FutureOngoing Concerns • Ongoing accounting fees- limit the number of audits and tax returns required • Get your accounting and reporting processes set up right away • Write a memo to yourself explaining the transaction in your own words right after closing

  14. Think About the FutureExit Concerns • Think of legal incentives as well as financial to push your investor to leaver after five years • Understand tax consequences of the exit • Are any funds structured as loans that will be forgiven • 32/39ths- negative amortization; who pays the taxes?

  15. Dr. Andrew Rothschild Tucker Bartlett Chief Operating Officer tucker.bartlett@scientificproperties.com 919-967-7700

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