real estate sc asset management reo

LandTech’s Special Asset and REO Management affiliates have been named by the appropriate jurisdictional courts as the Court Appointed Receiver of the following properties [read more]

Read More...

 

Contractors with whom LandTech works are bonded and licensed in their disciplines and have a long and successful history of work within the larger community. LandTech keeps its focus on quality by utilizing a select group of pre-qualified contractors and builders for all of its projects.  Each of them will have established a reputation for quality work and a relationship with subcontractors and suppliers that ensures their ability to deliver quality on time.

General Contracting
With respect to general contracting, LandTech prefers the design-bid-build paradigm as it provides the most checks and balances.  LandTech engages US Group, a seasoned local civil and site design/build firm, with whom it has had a continuous 10-year relationship, to design and construct the infrastructure in accordance with local guidelines and sound engineering principles. Additionally, a surveying team is on site to ensure that roadway and utility lines are installed in the correct locations with the proper elevations.   Additionally, a local geotechnical engineering consultant, F&ME,  again with whom LandTech has had a continuous 10-year relationship, is engaged to verify compaction and composition of materials used in construction of the subdivision infrastructure.

Homebuilders  
LandTech has been successful in assembling a diversified building team known for quality building and offering a wide mix of housing product types and pricing.  Depending on community size, our builder team will include national and local volume builders and a local custom-builder team, each of whom will have a long history with the principals of the company, a solid financial history and a reputation for quality control and warranty follow-up work.

The Future
LandTech will continue to expand in the residential development industry. With our development efforts finished in Lake Carolina and the infrastructure development completed in Park West, two of LandTech’s flagship communities, we have begun a search for additional residential development opportunities to be added to our ever-increasing roster of communities.  We shall, however, remain highly selected, undertaking land development of communities only where similar enduring value and exceptional family lifestyle opportunities may be created. One such opportunity in Chapin is in the due diligence phase, but other opportunities are being sought in Mount Pleasant, Columbia, and other neighboring South Carolina cities.
        
Vision
Our vision is to remain at the forefront of the development of pre-planned communities, communities that all residents are proud to call home, communities that offer choices, embrace the needs of families, and make a statement about enduring value and quality of life.    We know, however, that talking about our vision is one thing; making it reality is quite another.  Hence, before building our first community, we decided that the only way to be certain that reality matched our vision was with in-depth market and economic analysis, detailed planning, sound financial commitments before the land is acquired, and then delivering upfront what most developers deliver at the end, the community infrastructure.

Land Sale Opportunities
LandTech is seeking land purchase opportunities, particularly in high-growth or potentially high-growth areas. If there is an opportunity to immediately add value to the land, to create a community that stands ahead and apart from the competition, and can be designed especially for families by creating healthy lifestyle attractions, we invite you to contact us.
LandTech purchases land in a manner that facilitates the objectives of the landowner:

  1. Cash Purchase – One cash transaction. The landowner is not identified with development of the community and has no risk or obligation beyond the closing of the purchase. The value realized by the landowner will represent the current market value of the property based exclusively on a raw acreage purchase.
  2. Phased Purchase – A binding purchase contract is executed for all of the land, but is closed in stipulated phases. The landowner is paid in cash at the closing of each phase. The purchase price under this option escalates for each phase. The value realized by the landowner is higher than the value realized under single cash closing. If feasible, the purchase will be structured so that additional income derived by the landowner will come in the form of Capital Gain.
  3. Joint Venture – The landowner contributes the property to the Joint Venture on an agreed-upon purchase price, with the purchase price paid with a note. After the land has been developed, the note is repaid from the sale of lots at the closing of each lot and on an agreed upon lot release price. The purchase price received by the landowner under this option is greater than under a phased purchase as the landowner receives a premium for an installment purchase and/or participates in the profit of the development. The landowner does not, however, have a financial or other obligation in the development. As with a phased purchase, a joint venture, when structured properly, will deliver additional income to the landowner in the form of Capital Gain.

Under each purchase scenario, LandTech will require a short option to acquire the property from the landowner to conduct a market study, feasibility analysis and rezoning where necessary. The results our market study and feasibility analysis will be shared with the property owner whether or not LandTech chooses to proceed with the purchase.

Partnership Opportunities
We are especially interested in opportunities where the landowner seeks to not just sell his or her land, but be a part of the future, to be identified with the land, to build relationships, to build memories and to experience the building of a community.  Similarly, LandTech is particularly interested in inquiries from reputable home builders who have a particular property under consideration, but prefer to purchase finished lot inventory from a third-party developer rather than constructing the infrastructure themselves.