Quantified damages from pervasive water intrusion at construction site
Quantified damages from pervasive water intrusion at construction site
We performed an analysis and prepared an expert report on behalf of an investment group that had purchased a property under construction which thereafter suffered significant and pervasive water intrusion and other defects. In order to minimize further damage to the property, the investment group funded the repair project. Our work included evaluating the bid procedures and competitive bidding process, the reconstruction and repair costs, and the change order and draw process to determine if the process followed during the repair project complied with reasonable construction accounting practices.
Additionally, we reviewed and evaluated the construction management procedures and cost controls employed by the repair entities. A similar analysis and report were prepared for the same investment group for a property that suffered significant and pervasive damage from a landslide and deficiencies in a building.
Note: This work was performed prior to joining Stout.