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MONTECITO REALTY ADVISORS

Montecito Realty Advisors (MRA) is an innovative and proactive real estate consulting, management, and disposition firm specializing in the establishment and implementation of strategic solutions to protect, maximize value, and dispose of land development based REO and non-performing assets. MRA provides these services on the behalf of financial institutions, corporations, banks, and land owners with the intent to maximize the return of our client’s capital, quickly and efficiently, often acquiring immediate reimbursement of some previous project expenditures. After closely evaluating an asset or portfolio, MRA or related entities as a result of their association with real estate investors and developers, will also entertain the opportunity to acquire an asset or portfolio.

The principals at MRA bring a combined 75 years of residential and commercial development experience, a proven track record of individual and investor success, and more than $2 billion in real estate projects during the past 40 years. Their experience involves all facets of the land development spectrum, including due diligence, financing, acquisition, engineering, design, construction, marketing, and disposition of residential, retail, office, mixed use and master planned community projects in the Southwestern United States. The MRA team has established long lasting relationships with public agencies, government officials, real estate brokers, home builders, commercial developers, contractors, and consultants that serve as trusted resources to the firm. As a result of this unparalleled background, MRA is able to provide a unique perspective to our client’s land development assets and provide creative and specialized strategies to enhance their performance, increase their worth, and expedite their disposition.

Our mission is to maximize the return and minimize the risk to our clients by providing sound, cost effective asset management and realty advisory services. To accomplish this, MRA practices their Special EFEx Approach consisting of three primary steps; Evaluation, Formulation, and Execution.

Evaluation: MRA will acquire all of an assets documentation and perform a detailed analysis of its entitlements, agreements, designs, plans, improvements, costs to date, project budgets, and development schedules.

MRA will analyze a client’s financial and development obligations as outlined within its agreements and conditions of approval of its land use entitlements and perform a regulatory constraints analysis.

The MRA team will perform a site visit to the property and inspect current site conditions and evaluate the projects physical characteristics, accessibility, visibility, surrounding land uses, proximity to amenities, resources, and infrastructure, as well as its political climate.

A review of current competition in the market, as well as current market dynamics will be performed by MRA to determine the impact of those factors on the value of the asset.

MRA will research the potential to recognize immediate recovery of a client’s capital through acquiring reimbursements and negotiating settlements where feasible.

Formulation: Upon completing its evaluation of an asset, the MRA team will provide a detailed summary report of the status of the project, including the current state of entitlements, development agreements, dust control and SWPPP permits, bond releases, and potential for acquiring reimbursements of costs to date.

MRA will use information gathered from the projects evaluation to present an opinion of asset value based upon market conditions, comparable sales, status of entitlements and improvements, availability of infrastructure, and other factors that may dictate value.

The Formulation of a specific management strategy and asset business plan will be presented to the Client by MRA with the intent to acquire the optimum asset value during the projected period of ownership. MRA may also present alternative exit strategies for a Client’s consideration.

Detailed budgets and schedules will be prepared by MRA for the selected strategy and business plan to manage the day to day activities of an asset and oversee the related entitlement and governmental affairs through disposition of the asset.

Execution: Once an asset management strategy and plan have been formulated, budgets and schedules determined, MRA will manage the execution of the selected plan through the coordination with third party consultants.

MRA will monitor market conditions against the selected asset management plan to determine the ability to achieve the set optimum asset value and recommend alternatives or modifications to a plan as necessary to reach this target.

A summary of potential buyers and/or partners to achieve disposition of an asset will be presented by the MRA team and will be continually updated through the course of a plans execution to reflect current trends and product that may present additional opportunities.

Finally, MRA will execute the sale of an asset by providing the necessary due diligence information and educating the buyer of an assets worth and potential to justify the projected asset sale price.

Our wide range of experience in land development as homebuilders, commercial developers, and as consultants provides MRA with a distinct viewpoint and competitive advantage in managing land development based assets when compared to other companies. This unequaled experience allows us to provide our clients trusted consultation based on actual performance rather than consulting alone. We will work with lenders seeking to prevent loans from becoming non-performing or who are dealing with REO assets that need a creative and unique approach to protect and maximize value. The services of MRA are intended to complement a lender’s in-house capabilities so that control can be maintained throughout the workout process. The MRA team has the ability to manage projects in a static state or with a development plan. We believe the relationships that our team has built through its success will enhance the value of assets through negotiations with governmental agencies, managing of contractors, and ultimately utilizing market activity to appropriately price properties and identify the ideal buyer or other appropriate exit strategy for the assets.