Background

Rimkus experts were engaged by an institutional fund manager to assess the potential equity investment in a new $220-million, ground-up, mixed-use development. To facilitate their underwriting analysis, our client needed to know if the proposed costs and schedule were accurate.

Services Provided

We completed a top-down review of the project plans, construction costs, schedule, architecture and engineering, and mitigation costs to develop an independent view of the project. This was an involved undertaking. Our in-house technical staff opined on the completeness of the plans, while our project management and estimating group assessed the construction cost, schedule, and risks. Our expert opinion was substantially different from that of the proponents, resulting in a fresh look at the project. Ultimately, our opinion of the project costs, timing, and risks proved to be correct.

Based on our team’s thorough, accurate, and objective understanding of the project’s true costs and risks, the client decided not to pursue the investment. The client was very grateful for the insight we provided, which prevented them from investing in a project which would not have met their objectives.