Construction Plan Review and Loan Monitoring for New Distribution Warehouse in Indiana
This distribution warehouse located at Site Three on Exploration Drive in the growing AmeriPlex Development is adjacent to the Indianapolis Indiana International Airport. The facility is a one story pre-cast concrete and steel structure with environmentally conscious site development including wetlands, and sustainable landscaping embracing the building and car and truck parking areas. The 620,000 square foot facility was developed on time and on budget, despite losing nearly a month of construction due to weather.
AKT Peerless utilized our extensive background in construction and cumulative cost data to perform a preliminary review of the project prior to loan closing. The initial review helped pinpoint any major factors that could potentially impact the original proposed budget or schedule throughout the duration of the project.
AKT Peerless’ review of the monthly pay application and site inspections provided regular insight into any design or scheduling changes to the project. The information at the meetings was regularly communicated to MB Financial so they could manage any financial risks throughout the various stages of construction.
AKT Peerless’ comprehensive monitoring services provides MB Financial: Protection from liability exposure during the initial review of the construction documents. Recommendations for budgetary contingencies to account for unforeseen conditions. Recurring updates on any potential risks or modifications to the construction design throughout the construction. Assurance that the monthly disbursements of loan funds were not premature but were consistent with the appropriate project milestones.
