advisory

Clients trust us to advise them on a myriad of issues and challenges related to income-producing real estate.

Advisory

Clients trust us to advise them on a myriad of issues and challenges related to income-producing real estate. We have trouble-shot technical problems, helped streamline operations, performed diligence for new acquisitions and development, watched over construction and development project, helped transition a property to occupancy and consulted on revitalizing towns.

Diligence beyond standard. Foresight instead of hindsight. That’s how we’ll be for you.

Pre-Venture Diligence
  • Sponsor – comment on proposed project program, schedule and budget
  • Land – review zoning and entitlements, title and survey
  • Condition assessment – engage and review physical and environmental studies
  • Plans – review proposed project plans, amenities, and specifications
  • Infrastructure – evaluate status of roads, utilities and supporting facilities
  • Risks – identify risks and outline mitigation/contingency strategies
  • Closing – support acquisition team through purchase/venture closing
Design/Pre-Construction Oversight
  • Agreements – source and negotiate architect, engineers and consultants
  • Entitlements – review and monitor planning, jurisdictional approvals and permits
  • Plans – comment on drawings, specifications, fixtures and finishes at various stages
  • Utilities – track on- and off-site utilities and proffers
  • Contractor – assist with engaging general and specialty contractors
  • Schedule – monitor progress toward start of construction
  • Costs – negotiate GMP/lump sum pricing with contractor(s)
  • Equity – track equity requirements and review funding draws
  • Meetings – participate in design and pre-construction meetings
Construction Monitoring
  • Site – visit site to monitor compliance
  • Buy out – monitor contractor buy out/commitment of trades
  • Schedule – track work progress against construction milestones and impacts
  • Issues – look out for people, process and product concerns and recommend action
  • Meetings – attend construction progress and/or owner update meetings
  • Communications – monitor RFI, ASI, and submittals processes
  • Cost changes – advise on soft and hard cost changes disposition
  • Funding – review contractor pay app and track disbursement draw requests
  • Approvals – track final inspections and certificates of occupancy
  • Punch list – participate in review of completed work for quality concerns

In addition to standard site inspections and routine reports with progress narrative, financial summary and customary photographs, we prefer to proactively look beyond for real risks through participation in draw request meetings, project progress meetings and review of contractor/architect/owner certifications and reports. And since our services must focus on managing lender risks and protecting secured collateral, we may astutely monitor:

  • Work in place coincides with funds being requested/drawn;
  • Releases of liens of general contractor, subcontractors and key suppliers kept current;
  • Title search, appraisals and surveys updated;
  • Materials and equipment being stored but not installed (if allowed);
  • Taxes paid and entitlements and easements maintained;
  • Interest and other reserves and contingencies kept in balance;
  • Guarantees, bonds and escrow facilities maintained;
  • Potential and actual claims / change orders managed under control; and
  • Retainage / hold backs comply with loan agreements.