CLIENT: Invesco Real Estate
LOCATION: Littleton, Colorado
ASSET TYPES: Multifamily residential
Diligent property management and engagement in routine maintenance are often not enough to extend building longevity. Marx|Okubo not only evaluates the degree to which buildings have been maintained and care for, but provides expert opinions on construction quality and addresses inherent building issues that are often accepted as the status quo by property managers and maintenance personnel.
The Retreat at Park Meadows is a multifamily property consisting of 518 residential units in 32 total buildings. While the 19-year-old buildings have been through several iterations of management and ownership changes, Marx|Okubo was the first to identify the lack of a necessary drainage mechanism on synthetically adhered stone facades that cover a large percentage of the building. Additionally, water leakage due to incorrect installation of waterproofing at balconies and breezeway soffits was observed.
After a Phase II invasive investigation, Marx|Okubo, in collaboration with BC&E, a local engineering firm, was retained to define a scope of work, design and permit repair documentation, as well as perform Owner Representation and Construction Oversight for the necessary repairs.