Karchem Properties develops commercial properties. Our services extend from conceptual planning to property management.
Karchem Properties takes responsibility for project accounting and controls. At every step, you will know your expenditures to date and balance to complete the project.
Depending on the project, we play one of three roles.
1717 Rhode Island Avenue, NW
The Gallup Building
The Zenith
1500 Broadway
House of Sweden
Plaza America
Our goal during the due diligence phase is to assemble and analyze sufficient data to feel confident in giving the property a thumbs up or thumbs down. At the conclusion of the study period, we determine whether more time and money should be invested in proceeding with the project.
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Negotiate the Letter of Intent with the Seller.
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Review architectural and engineering drawings and conduct a site visit to assess factors ranging from the condition of building systems to the market demand and supply of the land use.
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Review those zoning regulations that may affect the building’s size, design or construction. |
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Meet with adjacent property owners. |
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Prepare an overall schedule and budget that account for hard and soft costs. |
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Develop a detailed project pro forma with likely financing scenario. |
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Direct brokers and attorneys in negotiating the purchase agreement based on our findings. |
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Activities during predevelopment phases have enormous bearing on the project’s budget and schedule—from securing investors and construction loans, to assembling a well suited design and construction team. Karchem’s extensive background in real estate finance, design, and construction allows us to foresee opportunities and challenges that will affect the project in later phases.
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Refine the financial model and investment analysis of project returns. |
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Prepare the financing package for securing investors and lenders and negotiate the terms of equity and debt placement. |
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Issue Requests for Proposals to select architects, contractors, and consultants. Review their proposals, recommend selections, and negotiate agreements. |
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Assess zoning issues and public approval processes with assistance of land use attorneys. |
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Coordinate marketing activities, including promotional brochures and broker leasing activities. |
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Karchem Properties is distinguished by its ability to ensure that design realistically reflects the project's design intent, budget and schedule. Accomplishing these objectives requires gathering accurate data and integrating information from all team members working on the physical and financial analyses. Given that our project managers are also architects or engineers, we help architects find less costly alternatives to meet design intent while satisfying schedule and budget pressures.
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Collaborate with architects and engineers to achieve a design that is consistent with the budget and that can be completed on schedule. |
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Oversee and review construction documents to ensure sufficient detail for accurate contractor proposals and a smooth construction process. |
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Resolve design issues that arise during permitting and construction. |
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Oversee construction administration and preparation of the punch list. |
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From selecting a contractor to monitoring work and payments, Karchem provides the management needed to ensure that the project goals are met. As always, our background in design and construction enables us to prevent countless problems and helps us work collaboratively with the construction team. Our problem-solving ability plays a crucial role in keeping the project on time and on budget.
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Evaluate the costs and benefits of a negotiated contract versus a competitive bid. |
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Develop the Request for Proposals, review contractor bids, and negotiate the selected contractor’s agreement with the assistance of an attorney. |
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Conduct on-site visits; attend weekly construction meetings to monitor quality, budget and schedule; and review meeting minutes. |
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Coordinate Applications for Payment by the general contractor and certification by the architect. |
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Oversee completion of the punch-list items and final project closeout. |
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Karchem Properties and Karchem Property Management prepare a property management plan to ensure that revenue goals for the asset are met. We bring considerable insight to this process from supervising the base building delivery and interior build outs for tenants.
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Involve our property manager and building engineer before the building is commissioned so that they are immersed in all operational matters. |
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Prepare an accurate operating budget and capital maintenance plan. |
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Prepare the Requests for Proposals for major building vendors, review their proposals, select the vendors and negotiate all agreements. |
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Ensure that the property manager has all final drawings, specifications, and equipment manuals necessary for effective building operations. |
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Perform accounting functions and submit monthly report to asset manager. |
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