Distressed development & workout solutions
Distressed development & workout solutions
Clarity on project viability for lenders, developers, trades and court-appointed trustees, monitors, receivers & managers
When a project or trade is distressed, you need to quickly identify challenges, timelines, and the best course of action. Timely and reliable advice is key.
We provide guidance so you can make critical decisions on the best path forward. Our services for distressed assets and workout solutions include:
- Cost-to-complete reporting and option analysis
- Risk and schedule assessment
- Stakeholder management and appointment
- Project assessment and development delivery strategy
- Tender and contract review, negotiations, management and administration
- Scheduling and claims advice
- Review of costs incurred and payables including holdback and liens
- Check authority approvals and compliance
Special loans groups, and court-appointed monitors, trustees, receivers & managers
To determine the go-forward plan for a distressed asset, you need a clear understanding of project risks, what it will cost to complete the project, and the immediate and long-term site and development activities required.
With experts in quantity surveying, cost consulting, project management, financial advisory, scheduling, claims, and property condition reviews and appraisals, our team offers unmatched advice and over 30 years of experience assisting special loan groups, and court appointed trustees, monitors, managers & receivers, on project assessments, turnaround for distressed assets and related corporate impacts.
Developers & trades
Schedule delays, cost overruns, defects, contract disputes or authority approvals can all lead to financial stress that result in unfortunate distressed situations for some developers, projects and trades. It is critical to get timely advice to identify the key issues and understand the solution options to minimize any further project or business erosion.
We can provide an assessment to facilitate the decision to continue to completion, reposition, or divest the asset.
Reduce project risks and construction costs with sound procurement, contract and dispute resolution strategies.
Cost estimating & pro formas
Set realistic budget and development scenario expectations and maintain them.
Project & loan monitoring
Get peace of mind with accurate reporting on construction progress and cash flow from an independent project monitor.
Asset and facilities management
Understand the current state of your facilities and their maintenance practices so you can make asset and operation decisions.
Keep decision makers informed with insights and data from experienced development consultants.
Minimize risk and enhance control measures on infrastructure projects with impartial expert advice.
Foreclosure and power of sale valuations
Lenders seeking to recover funds they lent on commercial assets or development projects should obtain a power of sale appraisal once the borrower's notice period has passed.
Contact a qualified professional
Our multi-disciplinary team of professionals brings a wealth of industry experience and unparalleled data-driven insights, providing the clarity you need to make informed decisions.
Our workView All
Distressed contractor review
Distressed assets & workout solutions, Cost-to-complete analysis, Schedule analysis, Profit & loss review
Distressed assets & workout solutions, Review of contract documents, Cost-to-complete, Completion schedule review, Financials review
Stalled luxury high-rise condominium
Port of Spain, Trinidad & Tobago
Distressed assets & workout solutions, Cost estimating, Project monitoring, Project & process management, Supply chain management, Forensic accounting, Value engineering, Trade claims negotiation / settlement / termination, Scheduling, Facilities management, Property management, Sales management
2021 Canadian Cost Guide
Jan 20, 2021
Your guide to better understanding Canadian real estate development and infrastructure construction costs
Opinion piece | COVID-19 impact on construction costs and escalation (part deux)
Sep 30, 2020
An update to Marlon Bray's March post on how the pandemic would impact construction costs and escalation on the short, medium and long term.
Construction cost escalation – not all sectors and trades change at the same pace
Aug 31, 2020
It’s very common for developers, contractors and consultants to estimate construction cost escalation, for all asset types and trades, based on a single number or range. This is dangerous and can lead to grossly inaccurate development budgets and forecasts, and more time (and money) spent on contingency plans down the road.
Developers’ FAQ on active projects during COVID-19 pandemic
Apr 2, 2020
Answers to help developers safely navigate the current and potential impacts of the coronavirus pandemic on active construction projects.
Construction contract answers during the COVID-19 pandemic
Mar 23, 2020
Practical construction contract and schedule advice related to COVID-19 for professionals in commercial real estate, ICI and P3 infrastructure.
What happens next? Strategies and precautions for construction real estate developers during COVID-19
Apr 22, 2020
Reductions in on-site labour, temporary construction shutdowns, and new site working protocols due to the COVID-19 pandemic, will cause the real estate and construction industry to feel the effect of this virus for months, and possibly years to come. The following identifies some of the risks, and provide some guidance on key strategies that owners and developers can follow going forward.
Stitch in time saves nine – How to use this pause in construction to save on your next development
May 12, 2020
With a desire to keep soft costs down, there is a reluctance amongst owners to invest more in the design and tendering phases of the project development. However, spending a bit more on the design team prior to construction seems to make a lore more sense, especially with millions of dollars in savings being left on the table.
Key Amendments to Ontario’s Construction Act
Oct 1, 2018
An overview of the recent and upcoming provisions Ontario’s Construction Act.
Opinion | COVID-19 impact on construction costs and escalation
Mar 30, 2020
What are the potential short, medium and long-term construction cost outcomes of the COVID-19 pandemic
Tariffs & Construction Costs
Oct 5, 2018
Tips to manage risks and mitigate the impact of tariffs on construction costs and your bottom line.
Cost plans & estimates – the most underused problem-solving tools in the construction industry?
Jun 1, 2020
Cost estimates are one of the best problem-solving tools an owner, design team and construction manager have at their disposal. However, they are often treated as a formality, pulled together for compliance, when the wealth of information that is contained is often lost and rarely fully-leveraged to the extent it should.