Oversee and submit on behalf of the Owner for all financing for the completion of development and construction.
Negotiate all terms of the Construction Loan with the Construction Lender including principal amount, interest rate, security pledge agreements, partial discharges, lender loan fees, legal fees, and any other terms and/or conditions required by the lender.
Ensure all financial aspects of the Projects are managed including loan advances, accounting, tax issues etc.
Act as an independent Loan Monitor on non-BGI projects reporting to the Lender on a regular basis as a prerequisite to loan advances. BGI's long experience allows for comprehensive timely review of borrower draw requests commenting on all areas of the development including on-site inspections related to loan advances. BGI's comprehensive experience allows review of all major categories including:
Planning & Design.
Marketing & Sales
Legal & Financial.
Act's as an independent Workout Agent on non-BGI projects reporting to the Lender for orderly winding up of projects which may be in loan default in order to mitigate possible lender exposure. Services would include negotiating and settling lien claims and associated litigation, repackaging the project, and undertaking completion of construction if necessary .