Capital structure in mixed-use development
Name
65470890-MIT.pdf
Description
Full printable version
Size
151.23 KB
Format
Adobe PDF
Checksum (MD5)
489dc15558bcdae551392b4421d08abe
Author(s)
Bayster, Andrew P. (Andrew Philip)
Advisor(s)
Brian Anthony Ciochetti.
Date Issued
2005
Publisher
Massachusetts Institute of Technology
Abstract
A survey-based approach was employed to determine the most important factors contributing to the successful financing of mixed-use development. Individual real estate developers were contacted to discuss their specific projects along with construction and permanent lenders. These projects contained three or more uses and were located in major metropolitan infill locations across the US. Specific questions were asked about the entire capital structure including equity, construction and permanent debt. 'The thesis contains a background on mixed-use development and its growing importance in the marketplace, discussion of equity and lending fundamentals within commercial real estate, a presentation of the data and finally an analysis of the findings. From the data, three main factors were derived that affect the ability of mixed-use developments to successfully receive financing. These include the size of the developer in relation to the project, the amount of pre-leasing and pre-sales completed and the ability to compartmentalize the project by use. These conclusions are important for any developer attempting to complete a mixed-use development of any size or complexity. To successfully build the project and appease any lender concerns, the developer must address each issue.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2005.
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (leaf 71).
Subjects
Urban Studies and Planning.
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
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