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Due diligence consultants - Transaction Consultants and Negotiators

U.S. Acquisitions Program – Owner Representation

Nissho Iwai American Corp. (Sojitz) |  Acquisition program representative for U.S., for Nissho Iwai American Corp. (now Sojitz Corp.)

 

StoneCreek Partners was retained by Nissho Iwai American Corp. (NIAC, now Sojitz) as owner’s representative for their North American acquisitions program. The retainer relationship included solicitation and screening of investment proposals, initial investment suitability and feasibility evaluations for NIAC, and in select instances, preliminary deal structuring and due diligence support for prospective acquisitions.

 

Two select examples of additional detailed due diligence support were Calhoun Beach Club and Condominiums situated along the shoreline of Lake Calhoun in downtown Minneapolis, Minnesota, and, Newport-Banning Ranch located in Newport Beach, California. Sojitz was formed in 2004 by the merger of NIAC and Nichimen Corporation.

 

Global Real Estate Consultants - office and industrial

Due Diligence for Science Park

Due diligence for science park, and technology incubator, envisioned for the Destiny Africa Ecosphere mega-development planned for George, South Africa.   Destiny Africa Science & Technology Park was  envisioned as a cutting-edge research and development facility as part of an economic development strategy for the George region of South Africa.   The business park was intended to specifically include select life sciences companies as part of  the initial tenant mix.

 

The park was designed to operate in close association with major regional colleges and universities, as well as South African and international companies.  A project of KDMC, the 456-hectare Destiny Africa development in George was to include a business incubation park, a knowledge park, and the science and technology park.   George is a city in South Africa’s Western Cape, on a coastal stretch known as the Garden Route.

 

 

Due Diligence for Science and Technology Park

StoneCreek Partners prepared various due diligence in connection with the project.   A feasibility analysis of the market support for such a facility, with extensive review of comparable projects in other world regions in order to benchmark the facility standards for Destiny Africa.

 

As part of the due diligence for this science and technology park, a detailed evaluation of the long-haul convention and conference business was included with the work.

 

 

The overall project was master-planned to include retail and commercial developments such as hotels, destination conference/meeting facilities, shopping areas and residential property.

 

According to the International Association of Science Parks and Areas of Innovation, … a science park is an organisation managed by specialized professionals, whose main aim is to increase the wealth of its community by promoting the culture of innovation and the competitiveness of its associated businesses and knowledge-based institutions.   To enable these goals to be met, a Science Park stimulates and manages the flow of knowledge and technology among universities, R&D institutions, companies and markets; it facilitates the creation and growth of innovation-based companies through incubation and spin-off processes; and provides other value-added services together with high quality space and facilities.   The expressions “technology park”, “technopole”, “research park” and “science park” encompass a broad concept and are interchangeable within this definition.  The acronym STP (science and technology park) is used to refer to all of these expressions.

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Hong Kong Faithrise – Acquisition Due Diligence

Hong Kong Faithrise Investment Holdings Limited  |  StoneCreek Partners acted as a real estate due diligence and consultant and owner representative to the acquisition process, to this PRC-based investor pursuing a coastal California golf resort (development site) acquisition.  Work included issues of project feasibility and hotel management company alternatives for this new development situated to include two existing championship golf courses.

 

Established in Hong Kong SAR, Faithrise Group (the “Group”) is a new capital and products operation group.  As of year-end 2014, the Group had approximately USD $325 million under direct management, with new capital infusion in 2015-2016 that will take the Group’s assets under management to well over USD $500 million.  Through wholly-owned affiliates, Faithrise Group has established outbound investments throughout the U.S., Canada, and now in Spain. In 2014, the Group formed Faithrise Capital Spain S.L. (Madrid) to facilitate its acquisition of Barcelo Sancti Petri Spa Resort, a 5-star resort in Cadiz. In 2013, Faithrise Group acquired SimpliFlow Competitive Sports in Toronto, which is now expanding in Canada and soon to the U.S. and Europe.

 

 

Real Estate Consultants - Office and Industrial

Feasibility & Due Diligence – The Edge Flex-Tech Office Park

GE Capital  |  Real estate project consultants for feasibility analysis to support lender’s analysis of planned flex-tech office development.   StoneCreek Partners prepared a market feasibility evaluation of this El Segundo (Los Angeles County) flex-tech office park, as part of underwriting for a loan by lender GE Capital to the project’s developer. Study included review of comparable facilities throughout Southern California.

 

Due Diligence for Multi-Family Condominiums

Due Diligence for Multi-Family Condominiums

Due diligence for multi-family condominiums, as part of an overall prospective joint venture investment in Calhoun Beach Club in Minneapolis (Minnesota).   Our real estate due diligence consulting was on behalf of Nissho-Iwai American Corp., since renamed a part of Sojitz Corp.

 

Real estate due diligence services were provided in support of client’s underwriting efforts, in connection with a proposed investment in Calhoun Beach Club’s major renovation and expansion.   The expansion was to include residential condominiums in a newly-constructed wing of the complex.

 

Calhoun Beach Club is a well-known local athletics club, social club, luxury apartment complex, and social banquets location, overlooking Minneapolis’ scenic downtown lakes.   The residential complex is situated on the shores of Bde Maka Ska (the former Lake Calhoun), convenient to downtown Minneapolis and a network of parks and tree-lined lakes with miles of running, walking and biking paths.   An aspect of our due diligence for this multi-family condominiums investment, was consideration of the facility’s location among these area amenities and outdoor recreation, as compared to similar (competitive) facilities in the region.

 

In January 2018, Minnesota’s Department of Natural Resources (“DNR”) formally replaced the Calhoun name with Dakota (Native American) name, Bde Maka Ska.   The Dakota name for the lake means  “White Earth Lake.”  There have been challenges to the DNR’s name change but so far, the name remains.  The former name was chosen to honor John C. Calhoun (1782 to 1850), who was a proponent of slavery and expulsion of Native Americans from their tribal lands.   The name change promulgated by the DNR is one of a myriad of such actions taken throughout the U.S., to bring about some balancing of U.S. history as viewed by Native Americans and other “people of color.”

 

Sojitz Corporation a “sogo shosha” (general trading company) based in Tokyo, Japan.   The company is engaged in a wide range of businesses globally, including buying, selling, importing, and exporting goods, manufacturing and selling products, providing services, and planning and coordinating projects, in Japan and overseas.  Sojitz was formed in 2004 through the business integration between Nichimen and Nissho Iwai.  Prior to this merger, our client (an affiliate of Nissho Iwai) for this due diligence for multi-family condominiums, had been formed by the merger of Nissho Company and Iwai Sangyo Company in 1968.

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