Norton & Schmidt provides Due Diligence services to lenders, owners and managers of real estate nationwide. The client list includes construction and permanent lenders including commercial banks, life insurance companies, pension funds, REITs and investors. For new construction projects, the scope of work generally involves preconstruction technical design and contract review, cost/schedule analysis and site inspections to review the contractor or borrower’s pay request, evaluate the quality and conformance of the work with the contract documents and industry standards. The technical design review addresses architectural, structural, civil, mechanical and electrical engineering disciplines. The physical assessment of existing properties involves a thorough review for code compliance, general building conditions (deferred maintenance, replacements, expected useful life analysis), A.D.A. and Fair Housing accessibility. Valuations of the properties reviewed over the years is well into the billions of dollars. Such assessments have included apartment properties in the tens of thousands of units, many for the Fannie Mae DUS lending program and Freddie Mac. A partial list of clients served includes TIAA-CREF, Northwestern Mutual Life Insurance, Bank of America, and PNC Bank. Similar services are also provided to individual investors, developers, insurers, attorneys, local municipalities and condominium homeowner’s associations.
Norton & Schmidt has administered technical services to the real estate industry nationally for commercial and multi-family properties for over 25 years representing developments into the billions of dollars. We have reviewed apartment properties representing units in the tens of thousands.
Please click on Contact Us and leave your name and number for an engineer to call, or call us at (816) 421-4232 and ask for Dave Nelsen.