Smart Site Reviews specializes in assisting construction lenders and equity providers to identify and manage construction risks throughout the construction loan or equity investment underwriting process. During our construction Plan and Cost Review, we analyze, evaluate and provide feedback on the completeness and constructability of the project. We review the budgeted project hard costs and soft costs (if applicable) and the adequacy and completeness of site and building drawings, specifications and schedules. In addition, we assess budget accuracy and identify risks to evaluate the sufficiency of budgeted contingencies. Smart Site Reviews’ principals deploy their decades of construction, engineering, real estate, development and legal experience to identify project risks and potential mitigating measures. In short, we help ensure that your project is feasible and that your investment or collateral is protected.

As part of our Plan and Cost Review, we review an array of project documents and information, as applicable and as provided by our clients:

Development-related documents and reports reviewed	Construction-related contracts and documents reviewed
Wetlands studies	Construction budget (including contingency) and cost breakdown
Geotechnical reports	Draw schedule/front loading identification
Environmental reports, including Phase I, Phase II, ACM reports, cultural assessments and others	Construction schedule
Entitlement and zoning reports	Plans and specifications
Permits and other approvals	Construction contracts
ALTA/ACSM surveys	Major subcontractor agreements
Utility “will-serve” letters	Civil engineer contracts
TIAs	Architectural contracts
Assessment of project team capabilities	Other design professional agreements
Other third-party reports	Permits
	Construction testing and inspections agreements

Smart Site Reviews acts as a lender’s or equity provider’s eyes and boots on the ground at the project site during construction. Our periodic on-site construction draw review process helps to ensure your project stays on budget and on schedule.

On-Site Reviews

• Occur at least once per month, or as requested by our clients.
• Consist of a comprehensive review of the site and the vertical construction and a comparison of construction progress with the draw request.
• Include conversations and questions with project manager or other general contractor representative.
• Assess whether draw requests are accurate, and corresponding scope has been completed.

Draw Reports

• Assess the sufficiency of available funds and remaining schedule time to complete the project.
• Summarize the completed work and in-progress work.
• Note any construction deficiencies or other issues we observe or of which we are aware, such as labor or material shortages.
• Provide a recommendation to fund or not fund the draw request.
• Include extensive photos and video, allowing the client to understand our findings.
• Provide sufficient information to allow clients to request specific clarifications or corrections from the contractor.
• Are completed within five business days of receiving a request (depending on contractor responsiveness).
• Can be customized or based on client’s form.

As part of our on-site review process, we will review relevant documents and information as provided by our clients and the contractor including, without limitation, the following:

AIA G702 and AIA G703	Construction schedule
Lien waivers	Budget
Submittal log	Permits
Buyout log	Change order log
Contingency expenditure log	Stored materials information
Plans and specifications	Subcontractor backup requisitions and invoices
Certificate of occupancy information	Changes or updates to any other relevant documents or information

Our principals stay in constant contact with clients and are available to discuss findings or projects.

Project Types

• Ground-up construction
• Land/horizontal development
• Tenant upfit/build-out
• Renovation/rehabilitation
• Distressed projects

Service Area

• North Carolina
• Southern Virginia
• Northern South Carolina

Clients We Serve

• Banks
• Credit unions
• Private equity sources
• Private debt sources
  • Bridge
  • Development
  • Mezzanine
• Hard money lenders

Property Types

• Office
• Multifamily
• Industrial
• Retail
• Mixed-use
• Self-storage
• Hospitality
• Residential subdivision