OFFICE SPACE IN ATLANTA GEORGIA

diligence services are provided to insure clients that all financial and planning issues have been reviewed and approved before major financial commitments are made.

RealNova, Inc has adopted a “crawl”, “walk”, “run” approach to due diligence and the ultimate construction of a hotel project. This approach is designed to minimize capital outlay as the idea of a new hotel begins to unfold. Clients move forward on sound financial footings before making major financial commitments. The “crawl” stage suggests that land be optioned or escrowed subject to all the final approvals necessary from both governmental agencies and financial institutions. During the “crawl” stage, the client spends a minimum researching the viability of the project. Many times in the hotel industry client’s purchase land before governmental, financial, and feasibility issues and costs have been determined. The “crawl” stage allows a client to have a basic understanding of the process before making major capital outlays.

Once the “crawl” stage offers a comfort level to the client, generally, we move into the “walk” stage where the client begins to invest in plans, feasibility studies, soils reports, level one environmental studies, construction cost analysis and other research necessary to bring the project to the point of closing on the land, obtaining building permits, recording construction loans and other items necessary so the project can begin. The “run” stage is reached after the client has been satisfied with all aspects of the project and is ready to move forward with the actual development of the hotel.

Finance: RealNova’s financial services include an extensive financing prospectus including but not limited to loan requests, project photography, site plans, elevations, renderings, project valuations, project development costs, plans and specifications, feasibility studies, 5 year cash flow projections, and other pertinent data that lenders require in the review of a potential hotel project.

A complete financial section of the financing prospectus includes borrower financial statements, income tax returns, partnership agreements and other necessary financial data to support the financing request. RealNova prepares five financing prospectus books for each project and presents the financing request to five different lenders providing clients an opportunity to review various financing options available.

RealNova coordinates the development of the financing prospectus books and assists the clients in making presentations to potential lenders. Financing prospectus books are provided to clients who wish to seek financing directly. This service is provided at no cost to clients who have contracted with the firm to develop their hotels. No brokerage fees or consulting fees are received from lenders or financing brokers.

Design/Build: The Design/Build program offers a client “one stop” shopping by selecting RealNova to design and build their project. Through its design department and through a joint effort with qualified hotel architects, the firm can offer standard prototype design and construction and “one of a kind” architecture and construction. The design department coordinates all aspects of the Design/Build and architectural services.

Architects: Should a hotel client prefer to contract directly with their architect of choice, RealNova will work closely with that architect to insure to the best degree possible that the project is designed to meet franchisor and governmental requirements.

There are many architects in the hotel industry that have substantial knowledge of the industry and thus, they require minimal help in coordination of the project. Architects new to the hotel industry can benefit by having a qualified hotel contractor as part of the development team.

F.F. & E: As part of the construction aspects of hotel development, the firm offers complete F.F. & E. installation. The firm’s experience in working with design professionals insures a smooth transition from design to actual installation. Through the design division, design coordination can insure a well-planned interior look melding well with the architectural theme.

RealNova has been constructing hotels for over twenty-five years with many of the firm’s clients being repeat clients. First and foremost in the firm’s relationship with its clients is to protect the client’s financial interests and to construct a hotel of the highest quality possible. To insure competitive pricing of hotel construction, the firm is very aggressive in obtaining the best and lowest possible prices from qualified sub-contractors and suppliers.

New Constructions: A program has been established wherein the client becomes an integral part of the construction “bidding” process so that the client can see first hand, actual costs. This “open book” policy has worked well for the clients of RealNova, Inc.

No matter the size of your hotel, we can examine your existing conditions to arrive at recommendations that may involve:

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