Real Estate Development Experience

In addition to her accomplishments in residential real estate, Coco Clayman-Cook has gained wide respect for her knowledge and ability in real estate development. She served as executive vice president for a West Los Angeles development company, PCS Development, and participated in all aspects of acquisition and financing of over $150,000,000 of multifamily apartment properties and condominium projects after the 1994 Northridge earthquake. During a short “window of opportunity” she managed and closed over 40 condominium and apartment properties totaling 2000 units. Coco also served as the point of contact during the development and marketing of a number of single family custom homes in Malibu and negotiated the purchase of vacant land and four commercial office properties.

Coco’s cut-to-the-chase approach and ability to look at the big picture is well suited to the ever changing demands of development. Her grasp of details, organizational skills and ability to multi-task enable her to manage the multiple escrows, construction budgets, scopes of work, construction timelines, intense negotiations and the mountains of paperwork associated with each transaction.

Her excellent communication skills make it easy for Coco to work directly with the principals of the company, sellers, agents, brokers, attorneys, mortgage bankers, loan officers, and appraisers. She has experience working with the City Attorney’s office, the city’s finance department, and their Low Income Housing compliance officers and Asset Management Division.

Coco’s review and submission of close to fourteen million dollars in construction loan documents included negotiating the terms and conditions of broker’s fees and commissions, escrow and title fees, lenders and mortgage broker’s fees, as well as the creation of proformas for each project. During her tenure at PCS, they successfully closed thirteen Fannie Mae tax-exempt bond-financing transactions.

She knows the ins and outs of compliance with federal requirements, the creation of management plans, and the paperwork involved in the transfer of properties into single asset entities (LLC’s). Once construction is underway, Coco’s marketing savvy helped the development products reach the marketplace, resulting in many sold or leased prior to completion.

“Every real estate transaction is complex,” Coco notes, “but the development of a project from its inception to completion brings out the creative side of my mind. Once the development process begins, every day adds layer upon layer of complex tasks, stops, starts, project management, additional people, personalities and paperwork. It’s a challenge to keep up with it all and keep the big picture in mind. I have enjoyed it tremendously and seem to be good at it.”

For additional information, call or e-mail Coco Clayman-Cook today.