Case Study: an institutional fund manager avoids a risky $220M mixed-use investment with Rimkus due diligence

institutional fund manager avoids a $220-million mixed-use investment with Rimkus

an institutional fund manager engaged Rimkus to perform development due diligence for a potential $220-million equity investment in a new mixed-use development. The client's challenge was to determine if the proposed project's construction costs and schedule were accurate for their underwriting analysis.

Rimkus conducted a top-down review of the project's plans, costs, schedule, and engineering. The solution provided by Rimkus yielded an independent expert opinion that differed substantially from the project proponents. As a result, the client decided not to pursue the investment based on Rimkus's accurate assessment of the project's true costs and risks, which prevented a poor investment that would not have met their objectives.