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CM&D has served the real estate capital markets for over 15 years, assisting
institutional investors and lenders with the evaluation of existing, under development,
and to be developed, real estate assets. In performing our services for investors
and lenders, CM&D is able to draw upon our extensive development, project and
construction management experience.
Our Assessment and Management services include:
- Initial Project Review and Assessment – Due Diligence Reports
- Existing Property Acquisitions
Prior to acquisition of an individual property or a portfolio of assets,
CM&D will perform due diligence on behalf of buyers or lenders. We provide a
comprehensive, standardized, Building Conditions Report, covering deferred maintenance,
required repairs, existing utility service, roof condition, warranty coverage,
patent defects, and conformance with existing zoning and building codes. CM&D is
also able to evaluate rehabilitation work.
- New Development Projects
For equity or debt investments in new development projects, CM&D has refined over
time a comprehensive Due Diligence Report designed to cover all critical components
of a development project. This report is designed to provide our clients with the
information necessary to make well-informed decisions on the relative merits or risks
of any development project, including the evaluation of their return on investment
and/or level of financing risk.
CM&D’s experienced professionals conduct a thorough review of entitlements and
the budgets for design development and construction of the project. Our report also
includes an evaluation of the design development and construction drawings, and the
specifications for completeness and accuracy. CM&D verifies the accuracy, logic,
and realism of the project schedule as it relates to the design development phase,
the construction phase, and overall project duration. We include an assessment
of the project logistics plan and evaluate the entire development team’s ability
to execute the design and construction. This report identifies major risk factors
to be mitigated in order to achieve the highest probability of successful execution.
- Monthly Oversight Reports
During the construction phase of a Project, CM&D identifies areas of project performance
which may adversely impact our client’s return on investment or level of financing
risk. In this role CM&D will:
- Attend and participate in weekly OAC meetings
- Review the Contractor’s RFI/submittal/change order/permit/insurance logs to determine cost and schedule issues
- Review the contractor’s payment application for conformance to the loan agreement and against actual progress of the work
- Review lien releases from the general contractor and subcontractors
- Review performance and payment bond and construction buy-out logs
- Review change order logs and pending change order requests
- Perform monthly site visits during construction to monitor the progress of the work and determine if any scheduling issues arise that may impact the construction schedule
- Photographically document the progress of the work
- Prepare and submit a “Monthly Project Overview Report” detailing our findings.
- Asset Recovery and Assumption of Project Responsibilities
When circumstances require an investor or lender to take over and complete a project
during the development or construction phase, CM&D is able to provide the necessary
development and construction management services to accomplish this task. In this
role, CM&D’s mission is the preservation of investor capital, mitigation of investor
risk and maximization of profitability to the investor. To accomplish this goal,
CM&D uses our development management experience to identify and implement project
activities that allow for project revenue to be generated at the earliest opportunity
and our construction management experience to complete the project in as close
to the original project budget and schedule as is possible.
CM&D also supports senior and subordinate lenders by making recommendations and
providing guidance to them in construction and/or development settings during
a loan restructuring, deed in lieu of foreclosure recovery, foreclosure, or bankruptcy
proceeding in order to mitigate losses and preserve capital.
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