PrayWorks LLC

Development
A real estate development project should be an exciting and profitable undertaking organized to benefit the investors as well as the end users. Development projects are often a complex collaboration between investors (equity), lenders (debt), government officials (particularly if entitlements are being pursed), designers (architects, engineers, specialty designers, and contractors), marketing and sales professionals, as well as legal counsel. This initial collaboration is first described in a financial analysis or model of the project (the so-called proforma) complete with source and use analysis for the length of the investment. Assumptions within the proforma are made relative to the cost of the real estate asset, the amount and length of the investment for design and construction, debt (construction, permanent), the amount of required equity, the implication of taxes, the various holding costs and governmental fees ... and the list goes on.

PrayWorks prepares these guides in various forms of completion … meaning one might prepare a preliminary proforma and decide very early with relative little expense that this project is not attractive. Alternatively of course, your intuition may prove to be on target and the project appears to be profitable. If such is the case, preparation of a detailed proforma is suggested.

At the end of the of the day, most investors are interested to know:
(1) When will I receive my initial capital investment back?
(2) What will be my return on this investment over the period of time?
(3) How much risk is involved with this investment?

A properly prepared proforma will address these questions, provide a map for success or, in some cases, suggest the project is not worthy of moving forward.

At PrayWorks, we believe it is important to evaluate any potential project initially from this financial perspective.

Management
The next challenge is to "make the cells" in the proforma come to life. In other words, PrayWorks will determine the best means of project delivery (i.e. design-build; design/bid/build, design/negotiate). Once a delivery method is determined, then design needs to proceed and be managed. Equity participants may need to be surfaced, construction financing arranged, and permanent financing arranged – the construction process must be managed. PrayWorks brings particular skill to this arena with over thirty years of design/build credentials with many diverse product types.

Think you’re finished? Not quite. PrayWorks will assist with commissioning, the turnover process, punch list management – everything – even the closing process.

Considering a development project? Let PrayWorks' detailed methodology and years of experience work for you.

Representation
Whether you’re creating a new facility or modifying an existing one, PrayWorks can help you assemble your team and then manage the process so you can enjoy the elements of design and construction and continue to go about your normal life and work routine. We’ll manage the process to the degree you choose. This list can include the following:

Let Dave Pray’s extensive experience in this world accrue to your benefit. Our goal is to help orchestrate a satisfying and rewarding experience for all participants.