our measure of success involves community
and sustainability…in addition
to financial performance
srmErnst specializes in value-add investment and development in the San Francisco Bay area where it targets properties that are transit and job center-oriented in well-located urban infill, urbanized suburban infill, and business park sites at acquisition prices that are below replacement cost and cyclical highs.
srmErnst provides the following expertise and services as principal and on an advisory basis:
- Master Planned Development
- Market Analysis and Valuation
- Land Assembly
- Brownfield Development
- Ground-up, Adaptive Reuse and Historic Preservation Development
- Sustainability Consulting and LEED certification
- Project and Construction Management
- Asset and Property Management
The target investment and development opportunities we pursue have significant synergies between the problems we solve and our unique ability to solve them. We lever the discipline and extensive local relationships of an experienced platform of development, project, construction and asset management capabilities to successfully execute ground-up development, value-add redevelopment and market-making for underutilized or underperforming assets.
- Typical deal size: $5M to $50M; unlimited for mixed-use.
- Risk Profile: value-add and opportunistic.
- Creative Office, including Class B Urban, Class A Suburban, adaptive reuse, flex and co-working/small business incubator space.
- Build to suit for a wide range of office, R&D and industrial facilities; ground-up or rehab; on a for-sale and for-lease basis.
- Small to Mid-Size Industrial and Flex/R&D, including a niche focus on artisanal food, wine and beer production.
- Mixed-Use Projects as part of TDP East Bay Partners.
In addition to project economics, other key evaluation criteria include:
- Area trending upward and/or in the path of redevelopment.
- Prices below replacement cost and cyclical highs.
- Well-defined and/or multiple exit strategies.
- Favorable access and/or transit options.
- Well-located assets – near a job creation center, university and/or shipping centers or corridors; proximity to amenities, in supply constrained locations.
- Upside potential through a combination of solvable problems leveraging our unique development, project management and focused-high-touch marketing capabilities.