underway this year for Apple REIT Companies total over $136 million
in construction value.
When Apple REIT Companies (Apple), an innovative real estate
investment trust company specializing in the acquisition of turnkey
hotel properties needed design and construction expertise, they
contacted R.A. Yarling and Company.
employs outside specialists when they are interested in purchasing
property to make sure their financial investment is sound and minimize
business risk. In this case, R.A. Yarling and Company is responsible
for assisting Apple REIT Companies with owner's representative
and construction quality assurance services.
To begin, our
team develops a comprehensive architectural engineering construction
document review process that identifies coordination errors and
additional detailing related to design. We also review the project
specifications to make sure they coordinate with the drawings and
bring any discrepancies to the attention of the architect and engineer
so that the documents can be corrected. This necessary quality assurance
step minimizes construction change orders due to coordination errors
between architectural and engineering drawings.
as an owner's representative our firm is providing Apple with comprehensive
construction quality assurance services. This includes numerous
site visits to each property to prepare construction observation
reports for each. The reports outline any issues that might be of
concern related to quality of construction, timeliness or other
problems that could arise from ongoing construction activity. At
this time, we also are inspecting each property, from roof to basement,
to ensure that it meets the construction documents and incorporates
required brand standards of the franchiser- in this case, Marriott
When our recommendations
and reporting are complete, R.A. Yarling and Company will complete
a nine-month warrantee walk-through for each property. This provides
Apple and the hotel management company with three months to work
with the original contractor to correct any problems that might
require addressing without incurring any extra costs to do so.
this pro-active approach allows the Apple to know exactly what they
are buying by holding the design and construction team accountable.
They will also use the prepared documentation to require that the
contractor agree to correct problems prior to and after the time
of purchase. This knowledge assures Apple that when they purchase
a building they are not overpaying and assuming excessive business
risk or future liability because of poor construction.
date, my experience with R.A. Yarling & Company has been a very
positive, client focused one with attention paid to the purpose
of ensuring these properties are built right.
Amos, Vice President of Asset Management, Apple REIT Companies