Raksystems Finland and Sweden cooperate in TDD inspections
Raksystems Suomi, in cooperation with Raksystems Sweden, performed Technical Due Diligence inspections as a subcontractor for Arcadis. These inspections happened both in Sweden and in Finland. The inspections were carried out on two real estate portfolios for two different clients, so that the condition of the properties could be inspected in connection with transaction.
Technical Due Diligence ensures the condition of the property in connection with transactions
Arcadis NV is a global engineering and business management consult company based in Amsterdam, the Netherlands. It currently has more than 29.000 employees in over 70 countries. Arcadis performs TDD audits itself, but also often procures audits through subcontractors in order to leverage local expertise in the inspections.
The purpose of Technical Due Diligence (TDD) inspections is to ensure the condition of the property during sale, and it serves as the cornerstone of operations for many real estate investment companies. Inspections provide valuable and objective information about the condition of the property and its surroundings in real estate transaction situations.
With the help of TTD, a smooth real estate transaction is ensured, when the possible risks and future repair costs are made known in the situation of buying a real estate. During the inspection, the current condition of the building is examined by structural, HVAC and electrical engineering experts to determine the current situation of the property.
“We have done several projects for Arcadis. They have been happy with the results, delivered projects on time and with high quality. It has been rewarding to be able to contribute with our expertise that several real estate deals have been completed and that we have received continued trust from Arcadis in recurring TDD projects”, tells Linus Clomén from Raksystems Sweden, who worked as a project manager in the TDD projects.
Inspections of the real estate portfolio of 38 properties
In January 2021, Raksystems performed TTD inspections for the real estate portfolio of 38 properties in connection with transaction. All sites were located in Sweden, more specifically in Malmö, Örebro, Västerås and Norrköping. The properties were mainly warehouse buildings.
The seller of the real estate portfolio ordered TTD inspections for the buildings from Arcadis. Arcadis in turn acquired local expertise from Raksystems. Raksystems Sweden managed the local site visits, while Raksystems Finland’s experts consulted and coordinated the execution and reporting of the project.
“Arcadis is a very important customer for us and we have been cooperating on TDD projects since 2017. They have a lot of know-how and a large network of experts and customers. We are happy to be able to help them with big, challenging projects that require quick decision-making”, says the head of the condition inspection department Serge Skorin, who assisted as an expert from Raksystems Finland.
TDDs later continued in Finland and Sweden
In the summer of 2021, Arcadis again asked Raksystems Finland and Sweden to perform TDD inspections for their client in connection with real estate transactions. This time, the inspections were mainly conducted on logistics properties in Finland and Sweden.
The inspections included a total of 40 sites located in Helsinki, Tampere, Vantaa, Tuusula, Espoo, Linköping, Helsingborg, Västerår, Halmstad, Kungsbacka, Jönköping, Sigtuna, Uppsala, Enköping, Örebro, Växjö and Tranås.
“The projects give us the opportunity to develop a rewarding cooperation within the Raksystems Group both with Finland and within Sweden to deliver a high-quality result to our customers. I am very happy with the support from Serge, helping us to kick off this service in Sweden”, finishes Clomén.