Focus Healthcare Partners (FHP), a Chicago-based real estate investment firm that specializes in senior housing and healthcare assets, engaged Partner to perform due diligence assessments in support of their acquisition of a senior housing community. The project site was a 384,084 square foot, seven-story building containing 348 units and located on a 6.38 acre parcel.
FHP planned to rebrand and renovate the facility to include upgraded amenities such as an indoor pool, a cinema, an art studio, a game room and a sports lounge. In preparation for the renovation, they required enhanced, equity-level due diligence.
Partner performed Phase I and Phase II Environmental Site Assessments and an equity-level Property Condition Assessment with specialty assessments including HVAC, Plumbing, Electrical, Fire Alarm and Suppression Specialty Evaluation (MEP); structural evaluation; roofing evaluation with infrared scan; building envelope evaluation; and vertical transportation evaluation. To meet the project timeline, specialty assessments were performed concurrently. Great care was taken to ensure the specialists could execute their scopes while maintaining resident privacy and minimizing disruption.