March 15, 2016 1:30 – 3:30 p.m. Eastern
The real estate pro-forma is an indispensable analytical tool for real estate development. However, it is frequently a tool that can forfeit accuracy in pursuit of precision. The early phase of a project can lack detail, limiting the accuracy of inputs to the pro-forma. This new webinar explores using a real estate pro-forma more effectively to shape and understand your project. Using a pro forma he employs for his own projects, the instructor will review its various components in detail, explaining how each contributes to a more accurate understanding of the project viability, layout, cash flow, capital stack, draw schedule, and phasing. The program will also include a review of numerous financial return parameters including yield on cost, gross margins, unit value and internal rate of return.
•Accurately evaluating project viability at each stage of a project
•Better understanding the components of the pro forma and how each contributes to quality decision-making and project management
•Using the pro-forma in your equity book, debt book, and private placement memorandum
Charles A. Long
Principal, Charles A. Long Properties, LLC
Principal, Junction Properties, LLC
Charles A. Long is a developer specializing in mixed-use infill projects, including acquisition, entitlement and public private partnerships.
He served for eight years as city manager in Fairfield, California. Since 1996, he has worked as a consultant to public and private clients on development and management. He has held interim positions for several cities in finance, redevelopment and management, including Interim Town Manager of Mammoth Lakes and Interim City Manager of Pinole and Hercules, California. His assignments have been diverse including negotiating development agreements, writing redevelopment plans, pro-forma analyses, strategic planning, economic development, organizational development, capital and financial planning, budget reform, base reuse and alternative energy development. He has overseen over $600 million of public financing in his career.
He is currently developing two multi-family projects in Oakland, CA, one at 76 units, the other at 110 units. Construction on these is expected to begin in late 2016.
Mr. Long is a full member of the Urban Land Institute and, within ULI, Vice Chair of the Public Private Partnership Council. He is a faculty member of the ULI Real Estate School, teaching both in the US and internationally. He has served on eighteen ULI Advisory Panels, chairing panels in Salem, OR, Boise, ID, Dallas, TX, Buffalo, NY Pasco County, FL and San Bernardino, CA. He received the 2012 Robert M. O’Donnell Award for distinguished service in the advisory program. He is co-chair of the Sustainability Committee for the San Francisco District Council and, in that capacity, initiated several reports including recommendations for streamlining California’s environmental review process, a directory of financing sources for building efficiency and a survey of resiliency best practices in the Bay Area. He is the author of the book, Finance for Real Estate Development, published by ULI in April 2011 and winner of the 2012 National Association of Real Estate Editors Silver Award.
Mr. Long has a BA in economics from Brown University and a Masters of Public Policy from U. C. Berkeley. He served in the U.S. Army as an infantry platoon sergeant.