Role
RPL provided due diligence and development oversight services on behalf of an institutional equity partner.
Unique Approach
- New partner and a new deal structure for our client so there were various elements that we influenced to get both parties comfortable.
- Encountered challenges with the COVID pandemic that shut down construction activity for an extended period and pushed completion several months. Revised plan from single phase delivery to a phased approach allowing residents to move in prior to the final completion.
Outcomes
- While delivered later than original plan due to COVID-19 pandemic, impacts mitigated through a phased delivery approach.
- Completed within budget.