VCU Real Estate Services manages the acquisition and disposition of real property in an effort to meet the growth initiatives outlined in the VCU Master Site Plan . Facilitating property acquisition requires completion of appropriate due diligence, including reports to address valuation, property survey, and title and environmental conditions. Real Estate Services negotiates the terms of all purchase agreements, secures title insurance and coordinates requisite approvals. Property acquisition at times may be related directly to a capital project, where assemblage is required to provide the land area for the project.
Submissions for authorization from the VCU Board of Visitors and/or the VCU Real Estate Foundation Board of Directors are prepared by Real Estate Services for all acquisitions including gifts. The unit also works closely with university counsel to ensure that transaction documents are legally sufficient in form.