Real Estate & Construction

|||Real Estate & Construction
Real Estate & Construction2016-11-10T11:30:23+00:00

Real Estate and Construction IndustryOur real estate work usually involves (i) appraisal, or (ii) expert testimony. In the litigation area, we have substantial experience in construction claims, delay claims, and consequential damages from lack of capital or bonding capacity. Because real estate entities usually involve partnerships, we have substantial experience reading partnership agreements and preparing relating accountings.

Related Experience:

Representative Engagements:

  • Provided pre-trial consulting and expert witness assistance in a case involving a land developer and apartment investor in Orange County, California. We were initially asked by Counsel to evaluate the market value of the apartment complex at multiple points in time. Subsequently, we evaluated the damages suffered by Plaintiffs as a result of the apartment’s proximity to a recent landslide and installation of allegedly substandard retaining walls throughout the development.
  • Coordinated the preparation of market value appraisals for four casino properties located nationwide as part of a bankruptcy reorganization and subsequent sale of three properties to a single buyer.
  • Routinely value real estate as an independent fee appraiser – This work generally is concentrated on (i) income, commercial, and industrial property types, and (ii) large residential developments.
  • On numerous occasions, calculated the lost profits on a real estate development or other real estate transaction – These matters generally involved either a failed real estate development or purchase that did not occur, or an ownership dispute in an existing operation.
  • On multiple occasions, performed a lost profits analysis as a result of termination of a construction project.
  • On multiple occasions, performed partnership accounting for real estate investments.
  • On multiple occasions, performed a feasibility analysis of obtaining financing and profits for a proposed real estate development project.
  • On multiple occasions, calculated the damages incurred by a contractor as a result of impairment of capital and related causation.
  • On multiple occasions, calculated damages on inverse condemnation matters.
  • On multiple occasions, valued a right of first refusal, right of first offer, and purchase options in real estate.
  • On multiple occasions, analyzed a company’s ability to participate in a corporate opportunity to purchase its physical premises.
  • On multiple occasions, calculated the lost profits of a construction company based on alleged interference with contractual relationships by a former employee who had started a competing venture – The underlying allegations generally involved a theft of trade secrets, or breaches of employment, shareholder, or similar agreements.
  • On multiple occasions, analyzed cost allocations and accounting in the real estate industry- Generally, these engagements involved issues occurring because a controlling partner used joint purchases or operations to support additional controlled entities with a different ownership group. The underlying allegations usually involved breach of fiduciary duties, conversion, and accounting.
  • On multiple occasions, determined the value of each member’s interest in a large residential management company due to the exercise of the buy/sell provision in the company’s operating agreement.
  • On multiple occasions, performed real estate projections used to assist with damage causation.
  • Provided forensic accounting for a real estate development company with over 20 partnerships due to a dispute between the partners.
  • Served as the arbitrator involving real estate development and operating agreements.
  • On multiple occasions, reviewed cost pass-throughs billed pursuant to office leases.
  • Performed a lost profits analysis as a result of using non-qualifying parts in a construction project.

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