| MDI Asset Management
WELCOME TO ASSET MANAGEMENT (MDI)
With the increasing amount of real estate assets returning to banks and investors, these institutions and individuals sought expertise in the management, valuation and disposition of assets. In late 2008, The Corky McMillin Companies formed a new Asset Management Group to meet the needs of these groups and their shareholders. McMillin Development Inc (MDI) Asset Management grew out of the family's established development firm, and has quickly grown as its own entity, currently managing over 50 projects in California and Arizona
CREATING VALUE
The MDI Asset Management group is comprised of several highly skilled members of McMillin's development, financial and construction team. Combined, they have over five decades of experience and expertise in all areas of residential and commercial real estate, including project management, feasibility analysis, real estate valuation, asset assessment, entitlement process, engineering, subdivision bonding, site development, construction and asset disposition.
ABOUT US
Starting their 49th year in the real estate industry, The Corky McMillin Companies enjoy a strong reputation for quality products and services. MDI brings with it the commitment to excellence associated with the McMillin name. MDI provides a complete range of asset management services to efficiently maximize the value of real estate assets for land owners, banks, investors, developers and asset managers.
MCMILLIN TEAM
Jeff Brazel, Senior Vice President
619.764.1310 | c:619.507.8800
jbrazel@mcmillin.com
Primarily responsible for land acquisitions, planning and project management, Jeff also manages feasibility analysis, business plan development and budget administration. While at McMillin, Jeff has acquired over 5,000 acres and development of over 15 major projects. He has overseen the disposition of over $250 million in properties to merchant builders, apartment developers, churches and public agencies.
MCMILLIN TEAM
Scott McFerran
619.818.3596
smcferran@mcmillin.com
As a senior project manager for McMillin, Scott manages properties for McMillin clients throughout the state of California and in Phoenix, Arizona. Scott was most recently responsible for oversight, product development and construction thru build-out for several new home communities totaling over 2,000 units.
Thom Fuller, Senior Vice President
619.794.1217
tfuller@mcmillin.com
Thom is a well-respected veteran in land development, specializing in environmental issues including construction in sensitive areas as well as re-vegetation design. He has an outstanding record of handling processing through resource agencies. Thom currently manages the daily operations of over 40 properties for McMillin clients throughout the state of California and in Phoenix, Arizona.
OUR SERVICES
Since the start in August of 2008, MDI has been growing the business, expanding our geographic reach, and enhancing the services offered to meet the needs of clients. To date, these clients have been Banks (real estate owned, pre-foreclosure and portfolio analysis), Private Investors (portfolio analysis, management and targeted acquisitions) and Property Owners. MDI has also acted as manager where there were multiple property owners or interests, to efficiently and cohesively manage all interests in a project.
MDI has now successfully transitioned into a full-scale Asset Management company doing the same things for others that The Corky McMillin Companies had been doing for themselves as developers for over 49 years.
THREE-TIERED ACTION PLAN
Phase One: Initial On-Site Visit and Assessment
- Assemble Pertinent Facts
- Identify Significant Health and/or Safety Concerns
- Provide Initial Narrative Summarizing Development/Construction Status
- Develop Action Plan, Prioritizing Task Requiring Immediate Attention
- Provide Full Written Project Report Including Site Photographs
Phase Two: Strategic Project Action Plan
- Entitlement Status Assessment
- Strategic Project Valuation Assessment
- Cost Analysis: Cost to Complete versus Cost to Hold
- Identify Strengths and Weaknesses; Issues and Constraints
- Provide Owner Representation
- Improvement Bonds, Subdivision Agreements
Phase Three: Asset Management/Disposition
- Provide On-Site Management
- Provide Construction Oversight
- Contract Procurement and Management
- Sales and Marketing Services
GRUBB & ELLIS | BRE COMMERCIAL ALLIANCE
McMillin Development Inc. (MDI), the largest commercial developer in San Diego County, and Grubb & Ellis|BRE Commercial (G&E|BRE), one of the Pacific Southwest’s leading privately-owned and operated commercial real estate firms have formed an exclusive partnership to help clients maximize the value of their real estate assets. The combined expertise of commercial real estate development and commercial real estate brokerage brings together an integrated team of resources, disciplines and professionals to drive an asset’s upside potential.
Read more »
DISTRESSED ASSET ALLIANCE
MDI belongs to a "Distressed Asset Alliance", consolidating all relevant and required services for troubled assets into a strategic coalition that serves financial institutions, state courts, bankruptcy courts and government agencies.
ALLIANCE
Each of our members is based in San Diego, CA, with many members having national coverage that can be utilized in many of the 50 states. Through our disposition network we offer one-stop services to you as we can analyze, foreclose, manage, reposition and underwrite your asset for the highest possible return.
MDI NEWS
Current Distressed Asset Projects
Locations: Actively managing 35 projects located throughout California from San Diego to Yuba City. Also managing 20 projects in Phoenix. Anticipate finishing over 130 homes in Phoenix by year end.
Type of Projects: "Bread and butter" projects have been residential land and homes. This has included individual stand-alone subdivisions in pre-foreclosure or taken back by banks; master-planned communities in various stages of development; and portfolios of land-based assets.
Work Provided: Tailored to the specific client, MDI has provided Due Diligence, Asset or Project Management, Land Development Management, Home Construction Management, Project Management and Disposition Assistance. MDI has also proved consulting services for various issues relating to real estate development.
RECENT INVESTOR ASSIGNMENTS
McMillin assisted a private investment fund acquire a portfolio of assets in multiple cities from a homebuilder (who sold year-end in order to meet loss carry-forward requirements) comprising the following elements: 12 Houses under construction, 100 finished lots, 100 nearly finished lots, 1,000 lots raw with a TM and 145 additional unentitled acres. Read more »
In April of 2008, McMillin was hired by an Investor/Developer to take over the Development manager role in a 480 lot/unit project where the on and offsite improvements were left partially complete. Read more »
CONTACT
McMillin Development Inc., an experienced, proven team providing services that increase value of distressed real estate assets.
CONTACT MCMILLIN DEVELOPMENT
Located at Liberty Station in San Diego California. McMillin Development is conveniently located near Downtown and the San Diego Airport
Email: info@mcmillin.com
Phone: 619.794.1310
McMillin Development
2750 Womble Rd
San Diego CA 92106