Why Your Real Estate Development Team Needs To Have Operational Insight
by Katherine Jackson
I would like to take a minute to talk with the people who are developing shopping centers, office space and mixed-use destinations. (Hint, this is good information for those buying those assets, too.) I want to make a point about the need for more than just construction and leasing when you are working on new centers. One of the common problems our organization runs into with assets we acquire is a distinct lack of communication between the development team and the managers and accountants who will be running the asset after the construction phase.
I learned many years ago the value of having someone with property management experience vet some of the details during the construction process. One of our construction projects that benefited from the synergy of property accounting and construction accounting saved us from some costly mistakes.
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