Project Aistieada
The issue. Ulticon Builders, with Udenna and China Harbor Engineering Company, needed a commercialization model, a business plan, and projections for a major reclamation. Highest and best use had to be settled with an independent real estate view.
The questions.
What is the highest and best use of the reclaimed land, once the obvious uses are tested against what the site can actually earn?
What does the commercialization model look like, and what business plan sits under it?
What funding does the consortium need, and what has to be true to reach financial close?
The outcome. The commercialization model was built for the reclamation, not adapted from a generic township. Highest and best use was worked with an independent real estate advisor, so the use was not the sponsor’s preference. The business plan and the financial model were then written to support regulatory approval. The consortium had a case it could take to the approving body, with the funding requirement visible rather than deferred.
Project Maroon
The issue. The Power Sector Assets and Liabilities Management Corporation needed a transaction advisor for the privatization. The corner was the asset. The mode of sale was the value.
The questions.
How should the property be packaged so major real estate developers treat it as a bid, not as a remnant?
Which mode of privatization returns the most to the government, once bidder interest is tested rather than assumed?
The outcome. Market soundings were run before the structure was locked, so interest was evidence. The privatization plan was then written around that interest: how the NGCP property would be packaged, and how it would be taken to a private bidding. PSALM had a path from a government lot to a contest developers would enter.