Exdev acquires, entitles, develops, and manages commercial real estate.
Operating since the 1990’s, Exdev develops institutional-grade commerical real estate projects through its proven, data-driven approach.
What we do
Exdev's portfolio snapshot
Exdev has extensive experience in planning, entitlement, and development with multiple agencies and cities. The company holds a diverse portfolio that includes hotels, retail power centers, office complexes, warehouses, and more. Exdev owns hotel franchises with Marriott, Hilton, and International Hospitality Group. Exdev's tenants including Fortune 500 companies such as JP Morgan, Toyota, and AMC Theaters.
See our impact
We could tell you about our impact, but we’ll show you instead
- Office condo rehab
- Ground-up mixed-use plaza
Pacifica Plaza was an unoccupied, for lease, 70-unit office complex. Exdev transformed it into a thriving fully-occupied 30-unit office complex that provides the region with much needed business services.
Property type
Office/Medical
Project type
Value-add
Building
46,748 sq.ft.
Land
2.53 acres
SURVEY OUR PROCESS
Take a guided-tour of how we develop commercial real estate.
Prospecting and Acquisition
Our 30-year-old network and acquisition operations provide a steady supply of new opportunities. We pass these opportunities through three screens to identify those that are not only lucrative, but also integrate well into their respective local communities. Once we select a property we move fast, structuring capital for the project and acquiring the property.
Building a 30-year-old Network
The Exdev management team’s integrity, accountability, and consistent project performance over the past 30 years contributes to a virtuous cycle of new partnerships and business opportunities.
Opportunity Generation
Our strong brand and relationships allow us to keep a permanent finger on the pulse of the commercial real estate market and provides us with a steady supply of new opportunities to prospect.
AI-Enriched Profitability Projection Screen
To determine if an opportunity is worth investigating, we employ a set of artificial intelligence models to perform a back-of-the-envelope estimation of the opportunity’s revenue potential. We then compare it against cost estimations from comparable projects to determine if the opportunity’s profitability fits our investment criteria.
Traditional Real Estate Analysis Screen
For opportunities that passed our AI-Enriched Profitability Projection Screen, we take a deeper dive into traditional real estate analysis and due diligence. We validate opportunities through the industry-standard Comparison, Income and Cost Approaches to real estate valuation.
Local Intuition Screen
We believe that human intuition should validate data and only invest if it feels right for the local community. To build a local’s understanding of an opportunity, we go beyond customary site visits. We designate an acquisition manager to live in the location for a period of time. Oftentimes, once we develop local intuition, new opportunities present themselves.
Financing
We structure and raise capital from senior lenders, institutional investors, and Accredited Investors. A formal property appraisal is completed to further validate our valuation methods.
Acquisition
We close without delay to ensure smooth operations and move the project forward.
Project Development
We execute multiple processes in parallel to expedite our velocity to the Construction Stage. We optimize each process to deliver the best experience for the local community.
People Placement
We build the right team for each project. Tapping into our 30-year-old network, we source leaders in each field that we know will get the job done well, on-time, and on-budget.
Entitlement
We collaborate with the local municipality to obtain approval for and build projects that fulfill their vision and enhance the local community.
Community Engagement
We meet with the community to obtain feedback to ensure that our plans align with the local residents’ needs and to ensure a smooth and successful project.
Project Design
We work with the best architecture, engineering, and consulting firms to design construction documents that maximize the potential of each project.
Value Engineering
At every step, we engineer our plans to be cost-efficient, while optimizing the quality and functionality of the project.
Construction
Leveraging our long-standing relationships in the construction industry, we manage the entire construction process from dirt lots to completed buildings.
Bidding
We submit the project’s construction documents to a wide array of General Contractors, field their proposals, and select the right one for the project.
Construction Management
Throughout the construction process, we provide direction for all stakeholders involved. We manage the budget, maintain the schedule, ensure adherence to construction documents, and facilitate cross-functional communication among the municipality, general contractor, engineering/architecture consultancies, and utility companies, along with any other stakeholders.
AI-Powered Site Monitoring
Throughout the construction process we monitor progress, change orders, and incidences through an industry-leading artificial intelligence platform that empowers project managers with on-site location-based ticketing deployed into a “walkable” 360º image environment of the site.
Remote Collaboration
Traditionally, the construction process requires stakeholders to be on site for them to add value. An architect, for example, might: travel to the site; take pictures and notes; return to their office; and then update their blueprints based on their site visit. With our AI-powered “walkable” 360º image environment, stakeholders are able to visit the site on one screen and have their documents on a separate screen. The result is increased operational velocity and fewer mistakes.
AI-Augmented Quality Control
Our Exdev AI Superintendent flags potential change orders as it compares weekly 360º image maps to the architectural design documents to identify discrepancies. Our strict quality control operations ensure that we execute the project in accordance with the approved construction documents, on-time, and on-budget.
Site work
We reconfigure topography of the land to fit the new project’s specifications through a combination of earth excavation, filling, compaction, and grading.
Foundation
To provide a stable, load-bearing foundation for the building, we excavate trenches for the building’s footing, place forms and rebar, and pour concrete to complete the foundation.
Vertical Construction
We install the underground mechanical, electrical, and plumbing systems to connect the building to public utilities; erect the building’s vertical structure; build the roof; and finish the exterior work.
Interior Finishes
To complete the building, we furnish the shell in line with the project’s construction document’s specification. This process may include interior mechanical, electrical, and plumbing systems; insulation; drywall; flooring; doors; paint; and fixtures furnishing, and equipment.
Exterior Finishes
To create the best visitor experience, we outfit the property with peaceful landscaping in line with the local ecosystem, adequate parking, and easy access to and from the road.
Inspections & Close-out
Once construction is complete, we work with the local municipality and all the teams involved in the project to ensure that the delivered property conforms with local ordinances, the approved construction documents, and the future tenant/owner’s standards.
Certificate of Occupancy
After the Inspections & Close-Out step, the local municipality will grant a Certificate of Occupancy to the building, which allows the building to be occupied by a tenant or owner.
Marketing and Operations
Depending on the project, we devise and execute marketing plans to attract buyers or tenants. In the event that we intend to operate the property, we source the property management teams from our deep commercial real estate network.
Property Promotion
We promote the property through the best-converting real estate industry marketing channels to attract buyers, tenants, and customers.
Leasing Operations
We partner with top brokerage firms to find the right tenant for the property and the community.
Property Management Operations
We place and oversee property management teams for projects that we have chosen to operate.
Sales and Marketing Operations
We partner with top brokerage firms to find and close the right buyer for the property and the community.
Exit
Simply put, we divest the property and apply the proceeds to our next big idea.
Sale of property
We divest the property in accordance with each project’s respective investment criteria.
Our locations
We operate a diverse network of affiliates across the globe.
Los Angeles (HQ)
17777 Center Court Drive North #725
Cerritos, CA 90703
U.S.A.
New York
27-35 Jackson Avenue
Long Island City, NY 11101
U.S.A.
Taipei
18F, No. 11, Section 1, Zhongshan N Rd
Zhongshan District, Taipei 10491
Taiwan
Seoul
(06163) 4F, 19, Samseong-ro 108-gil,
Gangnam-gu, Seoul
Republic of Korea
Ho Chi Minh City
PARK 7 - 26.OT09 Vinhomes Central Park 720A Dien Bien Phu Street
Ward 22, District Binh Thanh, Ho Chi Minh City
Vietnam
Silicon Valley
3000 Scott Blvd.
Santa Clara, CA 95054
U.S.A.