Interaudi Bank Retains Beacon Consulting Group For DCR and Construction Loan Monitoring Services
Interaudi Bank, a private bank based in New York City and Miami, Fl, recently selected Beacon Consulting Group to provide construction loan monitoring services for a $53-million residential / commercial high-rise construction project underway in Manhattan. John Yeung, a Senior Consultant at Beacon, has already provided document and cost review (DCR) services to Interaudi for this project (and others). Beacon’s DCR consulting and loan monitoring services help banks mitigate financial risk by providing an independent analysis of planned construction projects, followed by ongoing monitoring of projects during construction.
The DCR process includes reviewing a wide range of information available about the planned construction project and identifying potential areas of concern. The DCR Report is used as part of a bank’s overall due diligence process prior to issuing large construction loans to developers. John will lead this construction loan monitoring project, which will include monthly review of the progress on the project, as well as identifying and reporting any potential issues or problems to the client.
Beacon’s team has many years of experience providing a wide range of construction consulting services to financial institutions, Surety companies, law firms, insurance companies, government agencies, project owners and private developers. Whether working in the capacity of Surety consulting, owner’s representative, funds control, project management or independent document and cost review experts, our team knows what is necessary to estimate, plan and manage a successful construction project. For this reason, a growing number of financial institutions, project owners, and investors are turning to Beacon for independent expertise related to construction projects (before issuing loans and for monitoring projects after loans have been issued).
