Role
RPL provided due diligence and oversight services on behalf of an institutional equity partner.
Unique Approach
- Located in a unique market (Midland, TX) where resources and qualified trades are hard to come by, especially given competing oil field jobs that tend to pull away tradesmen.
- Established a schedule that allowed for trades to remain on site for extended periods of time (i.e. having 4 slabs poured and ready for the framer before allowing the framer to start, then having 4 more slabs ready but not letting them start on them until 3 of the previous 4 had roofs on them first)
- Established a staging and material storing lot to acquire as much material for the project as possible early so that the project was not waiting on materials to arrive.
Outcomes
- Delivered 2 months ahead of initial schedule.
- Delivered $2 million under initial budget.