QuickDraw Completes Fund Control Services for Multi-Million Dollar Home Construction Project in Brentwood
At 320 North Gunston Drive in Los Angeles, there sits a spectacular brand new home in the gated community of Brentwood Circle. This exclusive residence represents one of the most expensive custom home construction projects that QuickDraw Fund Control has provided cost review, inspection and fund control services. The home is currently listed for $12,950,000.
The construction loan was made by the Alhambra Branch of Preferred Bank. QuickDraw has worked with the Borrower, TriWest Development, on all of their Preferred Bank-Alhambra Branch construction loans over the past few years. However, this project was especially exciting because of the massive scope. Such a large, custom home requires extra attention to detail and, from the start, QuickDraw was certainly up for the challenge.
The process began with an online cost review analysis of the construction budget. The lender hired us to provide an objective review of the project’s costs. Our experts reviewed the budget details and provided a complete budget analysis and professional opinion to the bank. We were pleased that this important underwriting requirement quickly received bank approval.
During construction, QuickDraw provided site inspections and fund control services. We reviewed and approved draw requests as each phase of construction was completed. Monthly on-site inspections were performed by our team to show the lender that the requested items were verified completely before funds could be released to the borrower.
When construction was completed, the result was one of the most beautiful, luxury homes ever built in Brentwood Circle. It was designed in reference to the East Hamptons Traditional style. The home is 10,740 square feet in size and features seven bedrooms, nine bathrooms, a Captain of Industry screening room, a grand second-floor landing, a glass wall wine cellar and even a yoga studio. Everything about this home exudes luxury and elegance. The entire team at QuickDraw is proud to have worked closely with TriWest Development and Preferred Bank in helping make this project a huge success.
From home renovations and new construction to major commercial development, QuickDraw provides Cost Review Analysis, Inspection and Fund Control services for all types of construction loans. For more information about our menu of services, please contact QuickDraw Fund Control today!