Pulse Group professionals were retained by First Interstate Bank to undertake a detailed valuation and provide strategic planning advice with respect to Aviara, a residential golf-oriented master planned community, located in North San Diego County. Upon completion, the project is expected to contain more than 2,000 residential units, an Arnold Palmer designed 18-hole championship golf course and clubhouse, a 450 room Four Seasons Hotel, a major sports/recreation facility, as well as ancillary commercial facilities. With more than 30 different planning areas in various stages of development and construction involved, our analysis focused on product mix, pricing and absorption issues, in addition to golf course utilization. Residual land values were estimated on a bulk basis for those planning areas, which were owned by the developer, with individual valuations completed for the golf course and a number of planning areas, which were under development. Our analysis and planning assistance allowed First Interstate and a group of seven other participant banks to evaluate their lending requirements and business strategy with respect to the project.
Strategic Planning and Valuation Services