Skala Partners is an opportunistic real estate investment, development and management company. Skala prides itself on unearthing both redevelopment and repositioning opportunities in the greater Connecticut and Westchester County real estate markets. Our experience working on both institutional and non-institutional projects is critical to understanding the risk in acquiring, constructing and selling assets in the marketplace. Our team has expertise to complete each aspect of a transaction including: underwriting, structuring, financing, acquisition, rezoning, project design/planning, site plan approval, construction management, property management and disposition. The strong performance demonstrated by each of our projects exemplifies our dedication to our investment partners, clients, and the municipalities in which they reside.
Skala Partners is focused on the redevelopment and repositioning of underperforming real estate in commercial districts, town centers and transit zones. Revitalizing urban districts with development of new, modern real estate is core to our business principals. Our goal is to identify these assets and execute a plan that will allow the property to reach its full potential. Our projects strike a thoughtful balance between planning, design, and mixed uses, built to meet the current demands of the marketplace.
Our team works to manage the full life cycle of a project:
Pre-Development: Understanding the demands that drive new development opportunities allows us to assess the risk-return profile for deals available in our markets. Our knowledge of design, planning and municipal zoning, helps to narrow our focus on specific opportunities. Once identified, we complete a full underwriting analysis (market study, design review, construction cost estimate) and negotiate to purchase the property. Finally, our team moves to complete zoning and/or site plan approvals, while also working with our investment partners to capitalize the transaction.
Development: Our team begins the development phase by working closely with the design team to ensure an attractive development is planned, and construction drawings and specifications are finalized. We then work to take the project through a thorough construction bid process with the support of our contractor relationships to ensure that the construction budget is in-line with cost estimates. From the time construction begins, our team maintains full oversight of the construction process, including the work schedule, work performed and invoiced, through issuance of a final certificate of occupancy.
Asset Management: Our team is also responsible for branding, marketing and leasing of each property to ensure it is appropriately positioned in the market and will attract the tenancy outlined in the business plan. We also set operational goals for the execution staff to maximize the operating performance of each property. Finally, the team will also be responsible for managing the disposition process for properties that have reached their goals and are to be marketed for sale.