Distressed Project Services

VERTEX’S DISTRESSED PROJECT SOLUTIONS TEAM HELPS SOLVE PROBLEMS FOR BOTH SMALL- AND LARGE-SCALE PROJECTS AROUND THE WORLD. WE PERFORM THIS WORK FOR DEVELOPERS, LENDERS, INSTITUTIONAL INVESTORS, LIFE INSURANCE COMPANIES, PRIVATE EQUITY FIRMS, HOAS AND OTHER STAKEHOLDERS.

We know first-hand that construction is complex. When problems become too big to solve internally, VERTEX provides senior-level expertise to troubleshoot challenging issues and disputes. Once on-site, we work diligently to evaluate the issues at hand to assess the risks they carry for the project. With a team of in-house engineers and architects able to assist in resolving defective work and proposing reasonable solutions to complex issues, we aggressively develop viable solutions to help mitigate the problems’ impacts, and help turn around projects to reach construction completion.

DISTRESSED PROJECT SOLUTIONS

Because we have worked for sureties for over two decades, VERTEX’s team of professionals have worked on thousands of difficult and technically challenging construction projects. More importantly, we effectively communicate highly technical issues and their solutions for non-technical decision makers to understand. While serving as distressed project consultants, our team is committed to preserving the best interests of the client through the course of construction.

PROJECT REHABILITATION REVIEW SERVICES

VERTEX provides Project Rehabilitation Review services, which include a comprehensive on-site observation with key stakeholders to understand the current project status and review the rehabilitation scope and budget. We conduct a general review of plans, contracts, and various documents, such as geotechnical reports, environmental assessments, zoning reports, and historic tax credit applications. Additionally, we offer a comparative cost analysis, prepare capital expenditure spreadsheets, and analyze the soft costs spent by the borrower, providing commentary on estimated figures and the inclusion of typical line items based on similar projects.

PUNCHLIST SERVICES

VERTEX provides Punchlist Services, which involve a limited examination of specific systems and components in the property, including construction documents, structure, mechanical, electrical, roof, fire protection, and more. We perform onsite observations with key stakeholders to generate initial and final punchlists and confirm punchlist items have been addressed upon request.

COST-TO-COMPLETE SERVICES

VERTEX provides Cost-To-Complete Services that involve site observations and project status discussions with the delivery team. We conduct a thorough review of plans, contracts, and various documents, including permits, GC’s change orders, and lien waivers. Additionally, we assess project schedules, perform cost-to-complete analyses, and review developers’ loan draw requests and budgets, providing comprehensive opinions on estimated figures, cost reasonableness, and adequacy of documentation.

CONSTRUCTION CLAIMS MANAGEMENT

VERTEX brings the experience of addressing and resolving construction claims for insurers, contractors, owners, and other stakeholders related to the project’s construction challenges. Our claims personnel evaluate existing claims and investigate issues to assemble affirmative claims.