Development Process

Service Bundling For Cost Reduction & Scheduling Efficiencies

Seakay’s established expertise and national developmental success can be attributed to our firm’s extensive experience in navigating the complexities of the governing regulatory processes, the cultivation of solid financing relationships, and the internal systems that we have established to streamline the specialized steps of medical facility construction. Our knowledgeable team is able to keep the process running efficiently and effectively through each phase. We routinely hear the same comments from our clients at the conclusion of the transaction – “that was easy”.

Seakay offers extensive experience in the identification and development of sites for future medical facilities that best meet the needs of the clients. Our understanding of the costs associated with construction allows us to realistically identify and assess existing properties in a prime location which may have been overlooked by a less diversified developer. This innovative thinking allows Seakay to uncover every potential property available in a region by broadening the scope to include land and buildings for sale

With site identification and an understanding of building requirements, Seakay is able to quickly generate preliminary plans and cost estimates that lead to the preparation of an accurate pro forma for the lifecycle of the property. The primary function of this pro forma is for rent determination, level of return, and cash flow.

Our project portfolio has repeatedly demonstrated that we are able to streamline the process, reduce cost, and enhance the quality and efficiency of the end project by bundling the development and construction service together. The management and implementation systems of our construction services are extensive, allowing Seakay to streamline processes as well as produce accurate pro formas and preliminary designs, all in-house. Extensive use of proven checklists, timelines, and templates in the development process avoids costly mistakes and wasted energy thereby reducing overall costs and meeting milestones and performance markers.

Vital to an organization’s success is its alignment with the best, brightest and most trusted outside firms. Seakay’s success, reputation and integrity has been key in our ability to identify and partner with the top firms in each respective industry. Competency, organization, and clearly defined goals for each specific project allows Seakay to contract for these services at the best possible rates.

Seakay recognizes that real-estate ownership is an important business strategy for physicians and medical providers. To finance our development activities, Seakay draws from a select consortium of firms. We have standing relationships with each one in order to best meet the needs of the given transaction. These established resources and our sound financial standing allow us to provide investment capital to ensure that each real estate venture is adequately capitalized and financed. Our firm is a recognized leader and innovator in facilitating physician ownership of healthcare facilities

Both our national and regional lenders have traditionally found Seakay’s loan packages extremely attractive, having recognized that our firm has proven experience and comprehensive understanding of this specialized field. They appreciate that Seakay is well capitalized, that we do not leverage our investments, and that our transactions are structured with a very low loan to value ratios. As an assurance to our clients that project financing does not delay a development transaction from progressing on schedule, we maintain a large capital reserve to draw upon. Capital markets change quickly, and our flexibility, resources, thorough knowledge of capital markets, and reliable contacts in this sector have streamlined our process. Seakay is continually seeking innovative approaches and financial structures to finance our development transactions in order to best meet the needs of our clients.