CLIENT: Wells Fargo Real Estate Capital Investments, LLC
LOCATION: Miami, Florida
ASSET TYPES: Multifamily residential
Mareas at Coral Reef Commons is located in Miami, Florida and consists of 18, three-story apartment buildings with a total of 408 residential units with net rentable area of 419,958 square feet. Marx|Okubo was brought in to assist with owner’s representation for the property. The firm started with a review of the program and design requirements, team components, budget and schedule; and then conducted a multi-tiered pre-construction review. The team then moved into construction administration (site visits, RFI review, change order review, project punch-list and close-out), and concluded our services with a warranty walk. Marx|Okubo’s team worked with Mareas starting in 2018 and continuing through 2020. Serving as an owner’s representative, Marx|Okubo (and its team of diverse internal resources) facilitates design coordination meetings, tracks the project budget and schedule, and proposes strategies for risk mitigation in an effort to reduce operating expenses for clients.