Lender Representation

Lender Representation

ALCALA provides construction monitoring and detailed monthly reports, which opine on the status of the project budget, schedule, and construction quality. Lenders and investors can be confident that they will be kept well informed with accurate, timely information on a regular basis.

Pre-Closing Document Review
-Evaluation of Drawings and Specifications for Constructability
-Evaluation of Contractor’s Schedule of Values
-Evaluation of Proposed Value Analysis
-Evaluation of Construction and Design Agreements
-Evaluation of Construction Budgets
-Recommendations for Construction and Project Contingencies
-Evaluation of Project Schedule
-Review of Engineering Reports
-Review of ALTA Survey
-Pre-Closing Site Inspection and Meeting

Monthly Monitoring Services
-Monthly Site Inspections with Project Team
-Photographic Records with Key Site Plan Reporting
-Pro-Active Problem Solving
-Review and Approve Applications for Payment
-Obtain Interim Lien Waivers from Contractor and Subcontractors
-Review Project Billing/Cash Flow
-Review Updates on Requests for Information
-Review Updates on Submittals
-Review Updates on Project Schedules
-Review Pending Changes and Change Order Requests
-Review Project Allowances
-Review Construction Contingency Status
-Review Updates on Key Inspections from Governing Authorities
-Team Leadership, including Owner’s Representative, Developer, Architect, and Contractor

Completion Report
-Report on Project Closeout Documents
-Obtain copies of Certificates of Substantial and Final Completion
-Obtain copies of Final Lien Waivers

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