Expertise in Action

GRS | Corteq Provides Assessment Services on the Acquisition of a $107 Million Multifamily Portfolio in Texas  

GRS | Corteq recently completed assessment services on a six-site portfolio of multifamily assets in the Dallas/Fort Worth area of Texas.  The portfolio consists of 119 buildings, containing 1711 residential units on over 67 acres.

GRS | Corteq services on the $106,918,000 million Fannie Mae Delegated Underwriting and Servicing (DUS®) transaction, were completed in two weeks.  The services consisted of Property Condition Reports (including MBA form), Phase I Environmental Site Assessments and radon testing for each of the six property sites.  The Property Condition Reports included a budget review and two sets of immediate and reserve tables to show the property in as-is and post-renovation condition.   GRS | Corteq director, Steve Canty, spearheaded the service package on behalf of one of the nation’s leading providers of commercial mortgages for multifamily properties.