In support of the acquisition of a 179-site industrial portfolio, Partner provided engineering and construction consulting services to one of Canada’s leading real estate investment trust equity fund manager. In support of this major due diligence effort, Partner evaluated 179 project industrial sites in various stages of development ranging from fully stabilized assets to ongoing construction and entitled land, located in fifteen different states across the continental US. The scope of work for each property varied by site and was developed to provide risk and financial exposure evaluation data. The project scope was completed on an expedited basis to meet the client’s investment committee objectives.
At fully improved and developed industrial properties, Partner reviewed existing property condition assessments (PCAs) and/or performed independent PCAs, as requested, tailoring the scope of each PCA per client requirements to include various specialty inspections and third-party document review including immediate repair/deferred maintenance and capital reserve cost evaluations. PCA evaluations included accessibility/ADA compliance review, roofing, MEP, building envelope/curtain wall, and fire fife safety assessment.
At sites in various stages of development, Partner’s construction risk management team reviewed documents, contracts, schedules and costs of proposed development and/or conducted Pre-Inspection site visits to review construction work in place. Based on these reviews and site visits, Partner provided an opinion on the percentage of completion and cost to complete each site. In support of the acquisition of a 179-site industrial portfolio, Partner provided engineering and construction consulting services to one of Canada’s leading real estate investment trust equity fund manager.