Climate Hazard and Property Physical Resilience Assessment

An equity investor involved in a proposed multifamily project engaged Marx|Okubo to conduct a climate hazard and property physical resilience assessment as part of the project’s due diligence. The project comprised 259 residential units within three separate buildings with a total area of 320,000 square feet. As a requisite step to close on the deal, the client required that our team use the Munich RE hazard assessment tool for this project, with the assessment taking place within the client’s limited due-diligence period.

Marx|Okubo identified the climate hazards that presented the highest risk to the project, assessed vulnerabilities based on a technical review of the construction documents, investigated potential measures to mitigate risks, and submitted recommendations to the client and their development partner. Throughout this process, Marx|Okubo provided practical solutions to reduce exposure to potential damage related to high wind events, localized flooding, and loss of power. The insights that our team contributed enabled our client to negotiate with their development partner to mitigate risks to an acceptable level for all parties.