We identify and proactively reduce the risk associated with construction lending by providing a pre-closing construction document and budget review called a Project Evaluation Report (PER).
The PER includes review of all construction plans and related documents, provides a project summary, and identifies any areas of concern or elevated risks. It is designed to verify technical requirements and costs, and to identify any problematic issues or discrepancies before construction begins. Construction documents and budgets are checked for coordination, and adequacy for successful construction.
Our Lender Services include the following:
Project Evaluation Reports (PER) – Identifies lender risks and potential solutions with cost feasibility review
Construction Site Visit Reports (SVR) – Construction Monitoring. The comprehensive review of plan conformance, schedule compliance, work quality, change orders and change order potential and contractor payment request review
Property Condition Assessments (PCA) – Thorough review of property condition, identification of deferred maintenance, repair cost estimates and replacement reserve schedules of future repair costs over periods up to 30 years
Specialty Experience/Sustainable Building – Our staff maintains up-to-date certification in a broad range of subjects, all designed to meet our client’s specific needs. LEED, Tax Credit Compliance, ESDS, ESS, and more
Cost-to-Complete Analysis –Evaluate the current construction status and determine the cost to complete unfinished work
Seismic Performance Analysis – PML studies – Determine current seismic risk, required repairs and calculate probable maximum loss factors
Annual Portfolio Condition Inspections – Annual property inspections reporting on condition and maintenance
Distressed Property Work Out Services – Property evaluation, recommendations for next steps, cost estimates for repairs/completion and project management of repair and completion work
Tax Credit Review – Plan analysis and construction confirmation for compliance with tax credit finance requirements
Evergreen Sustainable Design Standards Review and Compliance – Plan review and monitoring installation of sustainable products, assemblies, and practices. Confirmation of proper documentation to assure compliance.
Historical building preservation with addition, creating new condominiums adjacent to Century Link Field Falkin Associates provided feasibility review, construction monitoring and payment control services throughout the construction phase.
Working for the equity investor, Falkin Associates provided project feasibility analysis, plan and specification review, budget approval, construction monitoring, change order analysis and approval, contractor payment control and final completion review.
Representing the construction lender, Falkin Associates provided pre-construction project evaluation, feasibility review, construction document review, budget analysis and schedule feasibility. During construction Falkin monitored the work in progress, schedule compliance, change order analysis and provided contractor payment control.
