Timothy Ribble
Senior Associate at CODA Consulting Group- Claim this Profile
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Bio
William Hyatt
Tim and I worked iStar's San Francisco office for about six years and continued to work together for two years after I moved to i'Star's office in Santa Monica. I was responsible for sourcing new investments and Tim helped immeasurably in evaluating whether a potential Borrowers' business plans could be completed on time and on budget. Tim would evaluate the means and methods spelled out in the various construction contracts, the history of the development team and its team members, and local construction practices in forming his evaluation of the construction risk of a project. Tim was always thorough and detailed in his evaluations but also had an inclination to find a way to get deals done (as opposed to merely throwing up obstacles) by examining ways the contracts or loan documents could be used to allocate risks. After deals were closed, Tim had primariy responsibility for monitoring the construction draws and making sure that funds disbursed by the Lender were being used for the approved purposes and that projects were tracking with budget and timing milestones. As the real estate cycle turned, Tim and I worked together on the asset management process for distressed loans and continued working together as our firm took title to some of the assets, formulating and executing business plans for assets we were going to own. The projects on which Tim and I worked together included high rise residential condominium towers, fractional interest vacation homes (complicated by their adaptive re-use of an historic building), and residential master planned communities. In meetings with Borrowers, construction managers, and vendors, Tim was able to identify and prescribe the appropriate scopes of work to maximize the value of the project while limiting construction risk. While Tim's detailed approached during initial due diligence seemed excessive to some Developers/Borrowers (admittedly iStar emphasized pre-construction diligence than most Lenders), most of those same Developers/Borrowers would later readily admit that during both diligence and the course of the loan, Tim made suggestions which when adopted resulted in the reduction of total project costs and mitigation of their own construction risks. In my years of working with Tim, I found him to be highly organized, technically savvy, candid, and fair minded in all our dealings.
William Hyatt
Tim and I worked iStar's San Francisco office for about six years and continued to work together for two years after I moved to i'Star's office in Santa Monica. I was responsible for sourcing new investments and Tim helped immeasurably in evaluating whether a potential Borrowers' business plans could be completed on time and on budget. Tim would evaluate the means and methods spelled out in the various construction contracts, the history of the development team and its team members, and local construction practices in forming his evaluation of the construction risk of a project. Tim was always thorough and detailed in his evaluations but also had an inclination to find a way to get deals done (as opposed to merely throwing up obstacles) by examining ways the contracts or loan documents could be used to allocate risks. After deals were closed, Tim had primariy responsibility for monitoring the construction draws and making sure that funds disbursed by the Lender were being used for the approved purposes and that projects were tracking with budget and timing milestones. As the real estate cycle turned, Tim and I worked together on the asset management process for distressed loans and continued working together as our firm took title to some of the assets, formulating and executing business plans for assets we were going to own. The projects on which Tim and I worked together included high rise residential condominium towers, fractional interest vacation homes (complicated by their adaptive re-use of an historic building), and residential master planned communities. In meetings with Borrowers, construction managers, and vendors, Tim was able to identify and prescribe the appropriate scopes of work to maximize the value of the project while limiting construction risk. While Tim's detailed approached during initial due diligence seemed excessive to some Developers/Borrowers (admittedly iStar emphasized pre-construction diligence than most Lenders), most of those same Developers/Borrowers would later readily admit that during both diligence and the course of the loan, Tim made suggestions which when adopted resulted in the reduction of total project costs and mitigation of their own construction risks. In my years of working with Tim, I found him to be highly organized, technically savvy, candid, and fair minded in all our dealings.
William Hyatt
Tim and I worked iStar's San Francisco office for about six years and continued to work together for two years after I moved to i'Star's office in Santa Monica. I was responsible for sourcing new investments and Tim helped immeasurably in evaluating whether a potential Borrowers' business plans could be completed on time and on budget. Tim would evaluate the means and methods spelled out in the various construction contracts, the history of the development team and its team members, and local construction practices in forming his evaluation of the construction risk of a project. Tim was always thorough and detailed in his evaluations but also had an inclination to find a way to get deals done (as opposed to merely throwing up obstacles) by examining ways the contracts or loan documents could be used to allocate risks. After deals were closed, Tim had primariy responsibility for monitoring the construction draws and making sure that funds disbursed by the Lender were being used for the approved purposes and that projects were tracking with budget and timing milestones. As the real estate cycle turned, Tim and I worked together on the asset management process for distressed loans and continued working together as our firm took title to some of the assets, formulating and executing business plans for assets we were going to own. The projects on which Tim and I worked together included high rise residential condominium towers, fractional interest vacation homes (complicated by their adaptive re-use of an historic building), and residential master planned communities. In meetings with Borrowers, construction managers, and vendors, Tim was able to identify and prescribe the appropriate scopes of work to maximize the value of the project while limiting construction risk. While Tim's detailed approached during initial due diligence seemed excessive to some Developers/Borrowers (admittedly iStar emphasized pre-construction diligence than most Lenders), most of those same Developers/Borrowers would later readily admit that during both diligence and the course of the loan, Tim made suggestions which when adopted resulted in the reduction of total project costs and mitigation of their own construction risks. In my years of working with Tim, I found him to be highly organized, technically savvy, candid, and fair minded in all our dealings.
William Hyatt
Tim and I worked iStar's San Francisco office for about six years and continued to work together for two years after I moved to i'Star's office in Santa Monica. I was responsible for sourcing new investments and Tim helped immeasurably in evaluating whether a potential Borrowers' business plans could be completed on time and on budget. Tim would evaluate the means and methods spelled out in the various construction contracts, the history of the development team and its team members, and local construction practices in forming his evaluation of the construction risk of a project. Tim was always thorough and detailed in his evaluations but also had an inclination to find a way to get deals done (as opposed to merely throwing up obstacles) by examining ways the contracts or loan documents could be used to allocate risks. After deals were closed, Tim had primariy responsibility for monitoring the construction draws and making sure that funds disbursed by the Lender were being used for the approved purposes and that projects were tracking with budget and timing milestones. As the real estate cycle turned, Tim and I worked together on the asset management process for distressed loans and continued working together as our firm took title to some of the assets, formulating and executing business plans for assets we were going to own. The projects on which Tim and I worked together included high rise residential condominium towers, fractional interest vacation homes (complicated by their adaptive re-use of an historic building), and residential master planned communities. In meetings with Borrowers, construction managers, and vendors, Tim was able to identify and prescribe the appropriate scopes of work to maximize the value of the project while limiting construction risk. While Tim's detailed approached during initial due diligence seemed excessive to some Developers/Borrowers (admittedly iStar emphasized pre-construction diligence than most Lenders), most of those same Developers/Borrowers would later readily admit that during both diligence and the course of the loan, Tim made suggestions which when adopted resulted in the reduction of total project costs and mitigation of their own construction risks. In my years of working with Tim, I found him to be highly organized, technically savvy, candid, and fair minded in all our dealings.
Experience
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CODA Consulting Group
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United States
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Real Estate
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1 - 100 Employee
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Senior Associate
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Feb 2011 - Present
• Responsible for performing site visits to observe conditions of real property improvements and prepare reports specific to property condition assessments. • Provide construction management services that includes plan, cost and schedule reviews and preparation of funding recommendations for monthly developer draw packages. • Responsible for performing site visits to observe conditions of real property improvements and prepare reports specific to property condition assessments. • Provide construction management services that includes plan, cost and schedule reviews and preparation of funding recommendations for monthly developer draw packages.
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Various Clients
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Staffing and Recruiting
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1 - 100 Employee
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Consulting Engineer
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Apr 2009 - Feb 2011
• Retained by iStar Financial on a consulting basis to complete several of my previous projects. • Provided key litigation support that resulted in a favorable settlement with a title company. • Successfully managed construction projects on time and in budget. • Coordinated construction close-out process with the Borrower for a renovation and reuse project. Managed documentation retrieval, review and storage for the Lender. • Performed property condition assessments of commercial office and warehouse facilities, multi-family projects and a portfolio of hotels.
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iStar Financial
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United States
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Financial Services
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Vice President
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May 1999 - Mar 2009
• Responsible for overseeing complex construction loan projects and providing key opinions and recommendations to the Investment and Asset Management groups during the due diligence and management processes. • Mitigated and managed risk during loan negotiations and post-closing loan disbursements by evaluating development teams and the adequacy of development budgets and contingencies, and identifying and assessing construction issues. • Performed environmental and engineering reviews for loan transactions and developed comprehensive solutions to address the physical risk associated with the transaction. • Provided lender representation during the development process to mitigate development and construction risks. • Responsible for the development and contracting process including budget development and management, and contract negotiation with consultants, architects, engineers, and contractors. • Administered design and construction documentation process, draw process, and management of construction closeout resulting in a high level of project control and accountability. • Coordinated and managed teams of third-party consultants in the performance of property condition assessments, environmental site assessments, and seismic risk assessments during the physical due diligence process. • Performed construction cost assessments, reviewed construction schedules, approved draws and prepared funding recommendations for senior and mezzanine transactions to ensure adherence with terms of the loan agreement. • Performed periodic engineering Property Condition Assessments for an equity portfolio of approximately 72 properties. Approved tenant improvement submittals for building fit-out or renovations and reviewed reimbursement requests for tenant improvement allowances to maintain building standards and document construction that would require restoration.
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Project Manager
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May 1990 - May 1999
• Developed and prepared technical reports, project manuals, and the laboratory analyses and quality assurance testing of construction materials. Performed on-site construction monitoring, forensic investigations and condition surveys. • Prepared pre-purchase property condition survey reports for commercial real estate equity transactions to identify physical deficiencies and allow the purchaser a more favorable negotiating position. • Performed water infiltration investigations of curtain wall and roof systems at high-rise and low-rise buildings to locate, quantify and prioritize the most appropriate and cost-effective repair/replacement solutions. • Assisted in a disaster recovery project following the 1994 Northridge Earthquake. Provided reconstruction documentation for earthquake-damaged buildings and generated $250,000 in fees for the company. Promoted and awarded Employee of the Year in recognition of performance. • Performed condition surveys of structures; facades; pavements; curtain wall systems; and waterfront structures and provided roof-consulting services for condition and moisture evaluations. Prepared repair recommendations, cost estimates, and project manuals for roof repair/replacement alternatives.
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Education
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1985 - 1990
Old Dominion University
B.S., Engineering Technology
Community
