C&W Delivers Appraisals for 557-Property Multifamily Portfolio in Four Weeks
Cushman & Wakefield was challenged with preparing appraisals on 557 multifamily assets within 44 states in a four-week time frame for financing purposes for Wells Fargo Bank. In order to ensure consistency of report delivery, as well as to ensure USPAP and FIRREA compliance, Wells Fargo also requested the creation of a customized report template that would be used by all appraisers.
As one of only two firms with the capability to execute this portfolio, Cushman & Wakefield had the additional advantage of a dedicated practice group that would be utilized to complete the assignment in the requested time frame. The Multifamily Practice group leaders, working with the Global Portfolio Services Practice group, created a client-approved template as required. Then, working with regional managers across the country, the practice group leaders staffed the assignment with Multifamily Practice team members. Our Quality Control Committee team was required to review each report prior to delivery to the client.
Thanks to the appointment of qualified team members from the V&A Multifamily Practice group to the assignment, all 557 multifamily reports were completed, reviewed by the Quality Control team and ultimately delivered within the required four-week time frame. The client indicated that they were extremely happy with our product, service, and timing of the entire engagement process. Our ability to complete the work on time enabled our client to complete all financing for this portfolio.