the challenge
ECI Capital engages in the construction, purchase, and development of multifamily projects in the southeastern United States. In addition, ECI Capital manages over 7,400 total units across seven different states.
As part of their efforts, ECI Capital was evaluating The Mosaic at Oak Creek. This 273-unit apartment complex was built in 2020 and is located in Bonita Springs, FL, which makes it a prime investment for ECI Capital.
However, ECI Capital needed to ensure that the property was well constructed and built in accordance with local codes. While they have a highly experienced internal team, ECI Capital wanted to gain a more complete picture of any potential issues with the property.
the zumBrunnen solution
ECI Capital contracted with zumBrunnen for Property Condition Assessment services. The property being assessed had a hard two week due diligence timeline. In response, members of the zumBrunnen team arrived promptly to The Mosaic at Oak Creek apartment complex in order to perform a thorough inspection.
Over the course of two days, zumBrunnen evaluated the interior and exterior of the facility. Within 24 hours of completion, zumBrunnen provided ECI Capital with a preliminary report so that they could make an informed acquisition decision.
zumBrunnen provided ECI with a final report several days later. The more detailed PCA report not only identified potential concerns with the property, but it also includes recommendations for resolving those issues.
zumBrunnen’s expert construction consultants delivered the final report ahead of schedule, but they also identified concerns that were not initially discovered by the in-house team. These findings ensured that ECI Capital could properly account for all of the issues in making a bid for the property.
ECI Capital’s Chief Acquisitions Officer, Scott Levitt, was extremely satisfied with the timely and thorough nature of zumBrunnen’s Property Condition Assessment.
