Last week, Denali Investments finalized a financial deal with the landlord of a Target-anchored shopping center where our client is locating her new dental office. Denali is the dentist’s construction Owner Representative for the build-out of her new office. We have been assisting with lease negotiations, as well as overseeing the project’s architect and general contractor. For the last few days we have been assembling the client’s construction budget; because she expanded the square foot of her dental practice from what was originally forecast, her budget expanded accordingly. A problem arose: her construction loan would not accommodate the increase in her budget. But Denali Investments came to the rescue!
In spite of two real estate experts telling us our plan would not yield any results, we nevertheless forged ahead and approached the property owner about advancing their lease tenant improvement allowance up front instead of waiting until the end of the project, which is normal landlord practice. With a keen argument in hand, Denali Investment’s was able to convince the landlord to in fact front their portion of tenant improvements at the start of construction…this was $134,000 of upfront money with which our client could start construction of her dental office…before she even touched her construction loan! This will allow our client to move ahead with her dream dental practice office, and allow the construction to begin on schedule! Denali Investments moves yet another mountain for our client!
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