SERVICES

MANAGING RISK NATIONWIDE

Real Estate And Construction Life cycle

Managing Risk

We manage risk throughout all stages of the Real Estate and Construction Life Cycle. With an extensive suite of services, we analyze your project from an unbiased perspective and give you the information you need to help mitigate risk and maximize your return. Below is a list of specific services we offer.

FIRST STAGE

DUE DILIGENCE

Entitlement

Fulcrum provides a variety of Entitlement Services for its Clients with the ability to tailor a specific scope of service depending on Client needs.

Peer Review

Along with specialty consultants, Fulcrum’s in-house team obtains, reviews and, based on objective industry standards, comments on product and processes adopted by architects, engineers, and other consultants.

Property Condition Assessment

Fulcrum identifies physical deficiencies, such as the presence of conspicuous defects or deferred maintenance of material systems, components, or equipment. Fulcrum will assemble, manage, and coordinate a team of specialists to further investigate the condition.

SECOND STAGE

PRECONSTRUCTION

Master Planning

Fulcrum consults with our Clients to understand each project’s goals, review any existing documentation and assist our Clients through the master planning, project programming documents, and pre-design phase.

Contractor Evaluation

Fulcrum’s detailed contractor evaluation enables Clients to complete the vetting process in a proactive and detailed manner.

Plan And Cost Review

Prior to commencement of construction, equity investments and loan closing, Fulcrum typically reviews project documentation to evaluate contractual agreements, geotechnical conditions, municipal approvals, quality and completeness of drawings, construction costs and schedules. Fulcrum’s unbiased opinion highlights areas of concern and enables our Clients to make rational business decisions early on.

PROJECT REHABILITATION REVIEW

The rehabilitation of existing properties presents different and unique risks. Fulcrum will complete a Property Condition Assessment of existing properties while reviewing proposed costs, schedules and plans and specifications associated with the rehabilitation. Fulcrum will provide commentary on planned upgrades, and note items that could have a negative impact on the functional and financial performance of the property if not replaced.

SECOND STAGE

PRECONSTRUCTION

Master Planning

Fulcrum consults with our Clients to understand each project’s goals, review any existing documentation and assist our Clients through the master planning, project programming documents, and pre-design phase.

Contractor Evaluation

Fulcrum’s detailed contractor evaluation enables Clients to complete the vetting process in a proactive and detailed manner.

Plan And Cost Review

Prior to commencement of construction, equity investments and loan closing, Fulcrum typically reviews project documentation to evaluate contractual agreements, geotechnical conditions, municipal approvals, quality and completeness of drawings, construction costs and schedules. Fulcrum’s unbiased opinion highlights areas of concern and enables our Clients to make rational business decisions early on.

PROJECT REHABILITATION REVIEW

The rehabilitation of existing properties presents different and unique risks. Fulcrum will complete a Property Condition Assessment of existing properties, while reviewing proposed costs, schedules and plans and specifications associated with the rehabilitation. Fulcrum will provide commentary on planned upgrades, and note items that could have a negative impact on the functional and financial performance of the property if not replaced.

THIRD STAGE

CONSTRUCTION

CONSTRUCTION DRAW PREPARATION

Fulcrum values the importance of timely and accurate construction draw requests and assists our Clients in developing and customizing a process that benefits all parties within the project team.

CONSTRUCTION PROJECT MANAGEMENT

Fulcrum’s unique Construction Project Management services can be tailored to suit the specific needs of every Client. Fulcrum’s tried and tested processes provide valuable information that enables each and every Client to make educated decisions best suited for their respective project(s). In addition, Fulcrum’s team of certified professionals and technically qualified staff allows for in-house collaboration resulting in a qualitative approach to each project’s needs.

CONSTRUCTION DRAW REVIEW

Fulcrum’s technical staff perform regular onsite observations and provide clear, concise, and comprehensive progress reporting in a timely manner. Our evaluations typically include reviews and recommendations concerning the budget, schedule, plans and specifications, draw requests (hard and soft costs), progress photographs, lien waiver receipt and reconciliation, and change orders. Prevailing Wage reviews are an additional service provided to our Clients requiring this oversight.

RENEWABLE ENERGY REVIEW

Fulcrum has developed a proactive, best practices approach tailored to meet the specific needs of our Clients in the renewable energy market. Our approach provides an essential guidance tool throughout construction that is delivered by our diverse staff skillset and construction risk management, along with an in-depth understanding of the unique elements of these projects.

MID-CONSTRUCTION REVIEW

While Plan and cost Reviews should ideally be completed before construction commences, on occasion our Clients ask Fulcrum to perform similar reviews during construction. In addition to a typical Plan and Cost Review, these reports include onsite observations to determine the quality of materials and workmanship completed to-date, and general conformance to original plans and specifications while establishing the financial status of the project.

COST TO COMPLETE

Using information obtained from site visits and other sources, Fulcrum estimates the hard and soft costs required to complete a project from any stage of construction. Fulcrum produces various Costs to Complete scenarios, such as completion per contract documents, completion to obtain a Certificate of Occupancy, and completion to a state to operate the property.

PROJECT CLOSEOUT

Fulcrum works with borrowers/developers and general contractors to ensure that required closeout requirements are achieved. Further, Fulcrum reviews all costs, processes and information presented to ensure contract terms have been met.

12-MONTH WARRANTY

Prior to the expiration of a general contractor’s warranty, Fulcrum interviews property maintenance and management staff and reviews completed construction to determine whether there are any current material defects or workmanship issues that should be addressed by warranty. Fulcrum also seeks confirmation that warranty inspections have been completed, that warranty maintenance procedures have been adhered to and operational and that maintenance manuals are in place and updated.

FOURTH STAGE

OPERATIONS

CAPITAL NEEDS PARTNERSHIP

Fulcrum assists Clients in developing a thorough understanding of their real estate portfolio by completing customized Property Condition Assessments of all assets. By establishing benchmarks, we provide our Clients the opportunity to prioritize assets in need of immediate and long-term capital expenditure and assist in the creation of “Proactive” versus “Reactive” maintenance protocols.

Fulcrum’s Portfolio Summary Reports can be customized to filter and graph information that is critical to our Client’s operations. As an addition to Fulcrum’s Capital Needs Partnership program, Fulcrum completes ongoing periodic reviews of our Client’s assets to monitor repairs and replacements completed, to update our reports and to identify any immediate needs that may have developed since our previous observations.

FOURTH STAGE

OPERATIONS

CAPITAL NEEDS PARTNERSHIP

Fulcrum assists Clients in developing a thorough understanding of their real estate portfolio by completing customized Property Condition Assessments of all assets. By establishing benchmarks, we provide our Clients the opportunity to prioritize assets in need of immediate and long-term capital expenditure and assist in the creation of “Proactive” versus “Reactive” maintenance protocols.

Fulcrum’s Portfolio Summary Reports can be customized to filter and graph information that is critical to our Client’s operations. As an addition to Fulcrum’s Capital Needs Partnership program, Fulcrum completes ongoing periodic reviews of our Client’s assets to monitor repairs and replacements completed, to update our reports and to identify any immediate needs that may have developed since our previous observations.

 


Modular Risk Management

Fulcrum’s team mitigates risk and maximizes the benefits of this exciting alternative project delivery method. 

Modular Education

Feasibility Review

Team Selection

Construction Management

Risk Mitigation

Cost Management

Turn-Key Development

Modular Education

Feasibility Review

Team Selection

Construction Management

Risk Mitigation

Cost Management

Turn-Key Development

 

Modular Case Study

Home 2 Suites, San Francisco, CA

Home 2 Suites is a recently completed Modular building located in San Francisco, CA. 

$5.23MM

Earned Using Modular Methods vs. Conventional

Click to see how...

The use of the modular method resulted in a schedule savings of eight months. With 155 guest-rooms an actual average daily rate of $185 and an average occupancy of 73.5%, the estimated combined gross revenue capture was an astonishing $5.23MM.  

Projected vs Actual Schedule Savings – 8 Months, 8 Months

Total # Of Guest-Rooms – 155

Projected vs Actual Average Daily Rate – $174, $185

Projected vs Actual Average Occupancy – 62%, 73.5%

Projected vs Actual Average Gross Monthly Revenue – $520,000 x 8, $653,360 x 8 Months

Projected vs Actual Gross Revenue Capture – $4.15MM, $5.23MM

Projected vs Actual Total Net Gain – $6.15MM, $7.23MM

 

Modular Case Study

Home 2 Suites, San Francisco, CA

Home 2 Suites is a recently completed Modular building located in San Francisco, CA. 

$7.23MM

Earned Using Modular Methods vs. Conventional

Click to see how

The use of the modular method resulted in a schedule savings of eight months. With 155 guest-rooms an actual average daily rate of $185 and an average occupancy of 73.5%, the estimated combined gross revenue capture was an astonishing $5.23MM.  

Projected vs Actual Schedule Savings – 8 Months, 8 Months

Total # Of Guest-Rooms – 155

Projected vs Actual Average Daily Rate – $174, $185

Projected vs Actual Average Occupancy – 62%, 73.5%

Projected vs Actual Average Gross Monthly Revenue – $520,000 x 8, $653,360 x 8 Months

Projected vs Actual Gross Revenue Capture – $4.15MM, $5.23MM

Total Hard Cost Savings – $2MM

Projected vs Actual Total Net Gain – $6.15MM, $7.23MM

Stephen W. Wright, Frics

Chief Operating Officer

 

“Our continued growth comes through understanding the wants and needs of our Clients and providing exceptional tailored services.”

 

 

 

TESTIMONIALS

What People Are Saying

Please know that I have been very pleased with the services by Fulcrum, and I recommend Fulcrum for third party inspections.

Housing Authority City of Santa Barbara (HACSB)

Thank you for Fulcrum’s diligent and detailed review of costs incurred. Great!

JPMorgan Chase

I just wanted to thank you for your thoroughness on your review of the pay apps that I witnessed last week. We are all trying to keep our eye on the ball; however, Fulcrum’s detailed nature really helps me sleep better on costs associated with this project. The team’s sense of humor also helps the process.

Caesars Entertainment

It’s a pleasure to work with all the Fulcrum people.

Principal Real Estate Investors

I appreciate your thoroughness and follow up on this project…I will definitely use you again if I need an inspecting architect, and will recommend you internally for more work as well. 

Bank of America, Commercial Real Estate Special Assets Group

I’ve worked with Fulcrum and found them to possess a level of expertise necessary to monitor very complex construction projects. I have the utmost confidence in Fulcrum’s work. 

Academy Bank

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