GlobeSt.com: Why did you decide to create this package ofservices now?

|

Robinson: The concept of Asset Advantage grew outof Permit Place's response to the needs of existing clientssearching to optimize their assets in today's distressed realestate market.

|

GlobeSt.com: What do you offer?

|

Robinson: The Asset Advantage suite of serviceshelps financial institutions, private investors, governmentagencies, receivers of special assets and individual propertyowners to quickly find and fix building permit and entitlementinformation and issues that may affect their portfolios. PermitPlace provides practical assessment services and risk ratings forclients so that they can better know the value and risk associatedwithin those portfolios. We take care of this time-consuming,detailed work so that our clients can focus on bigger pictureissues.

|

GlobeSt.com: How often do you discover that permits are astumbling block for your clients?

|

Robinson: In data collected from work with over22,000 properties between 2003 and 2009, Permit Place found thatnearly half of these properties did not have an active buildingpermit on file. Quickly discovering a property's permit andentitlement status can provide a significant advantage to theprofessional team charged with analyzing the full risk and value ofa property or portfolio.

|

GlobeSt.com: So how would the Asset Advantage actuallyhelp clients "optimize value"?

|

Asset Advantage helps clients to optimize the value of theirassets or potential assets by providing services including:research, reporting and remediation for entitlements, tentativetract maps, final tract maps, permits, inspection records, codeviolations and certificate of occupancy. Asset Advantage alsoconfirms construction in place, zoning analysis, use of right,conditions of approval, planning affidavits, developmentagreements, fines and fees allowing clients with incomplete assetsto estimate the true cost to complete.

|

GlobeSt.com: Who are the Asset Advantage teammembers?

|

Robinson: Permit Place's Asset Advantage teammembers are experienced urban planners, real estate andconstruction managers who use web-based technology and personalrelationships to provide entitlement and permit assessment forcommercial and residential properties located throughout thenation.

|

GlobeSt.com: Are there any specific type of requirementsin order to use the service, such as a specific asset class orgeographic region for example?

|

Robinson: A customizable package of services isavailable for all asset classes at any phase of the project:single-family dwelling, multifamily, commercial, retail,industrial, undeveloped land.

|

GlobeSt.com: Can you give me a specific example of one ofyour clients and how the Asset Advantage is helpingthem?

|

Robinson: One of Permit Place's clients is anational bank specializing in construction lending. Permit Placehas confirmed permit status for up to 5,000 properties a year forthis bank in order to assess risk and determine the value of theportfolio. Before contracting with Permit Place, the process wastaking eight full-time employees working seven days a week for thisbank, because they did not have Permit Place's streamlinedweb-based system, extensive relationships, direct access andexperience.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.