CAPABILITY

Four Capabilities.
Fully Integrated.

End-to-end real estate development under single principal oversight.
Land · Capital · Build · Operate

01 / LAND SOURCING & ENTITLEMENTS

The right site, before it's public

Commercial real estate development starts with site control. In competitive markets, opportunities often don't reach public listings. Access is gained through relationships with brokers, landowners, and municipalities, built over three decades.

Aerial view of land under development
Off-Market Sourcing

We source development sites through owner-direct relationships and off-market broker channels, before competitive bidding inflates pricing by 15–30%. Our network spans nationwide growth markets.

Entitlement Management

US entitlements involve zoning approvals, environmental review, and multiple city departments. In major markets, this process takes 12–36 months. We manage the full process from pre-application strategy to final permit issuance with experienced land use counsel.

Market & Due Diligence

Every site decision is backed by absorption analysis, competitive supply tracking, and 5-year rent growth modeling. We also coordinate Phase I/II environmental studies, ALTA surveys, title review, and geotechnical assessments to eliminate post-acquisition surprises.

Development Solutions

Beyond land sourcing and entitlements, West Wing creates development opportunities around the specific needs of your business.

Build-to-Suit Development

We develop and build facilities specifically designed around your business.

Pre-Lease Development

Tell us what facility your business needs. We identify the site, structure the development, and deliver the facility.

Joint Venture Development

Partner with West Wing to develop specialized industrial and food facilities, including projects for global companies expanding in the United States.

Key risk: Entitlement failures can occur after significant capital commitment. West Wing's proactive municipal engagement and jurisdictional track record have resulted in zero entitlement denials on submitted applications across all completed projects.
02 / CAPITAL STRUCTURE & PARTNERSHIPS

Cross-border structuring that works

US-Japan joint ventures in real estate require navigating two distinct legal systems, regulatory regimes, tax frameworks, and business cultures simultaneously. A structure that appears straightforward in concept can create significant complications at execution if not designed by practitioners with direct experience in both markets.

Business partners reviewing documents
JV Structure Design

We design LP or LLC joint ventures for Japanese capital, balancing recovery, schedules, fees, and exits. All agreements are bilingual, aligning with Japanese fiscal years.

Regulatory & Tax Compliance

Japanese investors in US real estate face FIRPTA withholding, FBAR filing, and ECI exposure. We coordinate with tax counsel before committing capital to avoid tax leakage.

Bilingual LP Reporting

Quarterly reports in English and Japanese cover construction progress, financials, variance vs. proforma, and market commentary. Format aligns with Japanese LP decision-making timelines.

Japanese institutional capital operates on longer hold periods and lower return volatility expectations than typical US real estate PE structures. We design returns frameworks and LP communication protocols for this capital profile as a core competency, not an adaptation of US-centric models.
03 / CONSTRUCTION & GC MANAGEMENT

Construction in the US requires local mastery

From pre-construction planning and value engineering through certificate of occupancy, West Wing provides full-cycle construction oversight. General contractors are independent companies with their own financial interests and subcontractor networks. Effective management requires proactive oversight, clear contracts, and deep local knowledge of each market's labor pool, permitting environment, and construction norms.

Construction workers on site
GC Procurement

Bidding among 3–5 pre-qualified GCs. All must have $2M+ GL insurance, umbrella coverage, and performance bonds to protect against insolvency.

Value Engineering

We review materials and methods to achieve design intent at lower cost. Value engineering yields 5–15% savings without compromising quality.

Permit Management

Timelines: Texas 30–90 days, Florida 60–120 days, California 6–18 months. We front-load permitting to avoid delays.

Construction Oversight

Weekly visits, bi-weekly meetings, and monthly reviews. An independent rep tracks separately from the GC.

Tenant Improvements

TI coordination is execution-sensitive. We manage design, permitting, and construction to ensure timely delivery within the TI allowance.

Change Order Management

Pre-approval needed for changes over $5,000. Contingency log and 3% cap on discretionary changes. Projects averaged within 4% of contract price.

Draw Management

Monthly draws funded through title accounts. An inspector verifies work before each draw, protecting lender collateral and equity.

Schedule Control

CPM scheduling with liquidated damages in GC contracts. Critical path tracking ensures subcontractor accountability before costly delays.

Industry benchmark: US commercial construction projects average 8–15% budget overrun and 10–20% schedule overrun (FMI Corp). West Wing's draw controls, change order discipline, and bonded GC requirements have consistently delivered within 4% of budget and 8% of schedule.
04 / ASSET MANAGEMENT & OPERATIONS

Value is built in operations

Post-construction asset management determines whether a development achieves its return objectives. From lease-up and daily property operations through lease administration, vacancy management, and eventual disposition, West Wing provides institutional-grade oversight across the full operating lifecycle.

Office with asset management dashboards
Lease-Up Strategy

We identify tenants during design, not at CO. Pre-leasing 30-50% before completion reduces risk and speeds up LP distributions.

Property Management

Third-party managers undergo monthly P&L reviews, expense benchmarking, and semi-annual inspections. Vendor contracts are rebid annually.

Reporting & Disposition

LP partners get monthly statements, quarterly reports, and annual audited financials. We handle full disposition when thresholds are met: pricing, buyer ID, and proceeds distribution.

Lease Negotiations

We handle lease negotiations on rent, concessions, TI allowances, and renewal options. All terms are reviewed by real estate counsel.

Vacancy & Marketing

Leasing strategies and broker outreach to minimize vacancy and optimize tenant quality. Includes property positioning and marketing materials.

Compliance & Risk

Insurance compliance reviews, vendor negotiations, legal coordination, and regulatory management, reducing exposure and ensuring property governance.

Stabilized assets managed with institutional discipline typically command a 10-20 basis point cap rate premium at disposition, representing $500K-$1M+ in additional proceeds for every $5M of net operating income in current cap rate markets.