Who we are
Wert-Berater, Inc. has prepared independent feasibility studies for lenders, certified development companies, and federal agencies since 1998 — more than four thousand engagements representing $40.2 billion in evaluated project value across all fifty states and international assignments. Our fiduciary duty runs to the lender and the agency, never to the sponsor’s optimism: fees are fixed, quoted up front, never contingent on findings, and a determination is never changed under pressure.
What we do
Multifamily feasibility rests on household formation, income qualification, and the supply pipeline. The study quantifies the renter household base that can afford the proposed rents under standard 30-percent-of-income screens, maps every competing project in lease-up and in the permitting pipeline, and tests absorption pace against the construction loan's carry. Student and senior housing add their own demand arithmetic — enrollment trends and bed-to-enrollment ratios on one side, age- and income-qualified senior households and acuity migration on the other. For condominium sell-out programs, the analysis shifts from stabilized yield to velocity: pricing, absorption per month, and sell-out duration against the development debt.
How we do it
Demand modeling uses Census household and ACS income distributions, HUD fair market rent series, enrollment data for student product, and state aging-services data for senior product, with rent comparables verified at the property level. Condominium work follows the firm's dedicated sell-out methodology with optimized unit-count scenarios, monthly absorption modeling, and total-development-cost feasibility screens.
How we can help you
The firm prepares multifamily studies for conventional construction lending, USDA Community Facilities and B&I where rural housing economics apply, and SBA-adjacent senior care structures where the operating business, not the real estate, is the borrower. Engagements include a 184-unit Class A condominium sell-out evaluated at a $48,456,000 optimized total development cost in Winter Haven, Florida, where the base scenario was determined infeasible and the optimized configuration favorable with conditions — a determination sequence that illustrates the independence lenders engage us for.
How to engage us
Standard delivery is 10 to 15 business days from complete project data. Rush delivery for deals already in underwriting is accepted case by case for an additional fixed fee, quoted up front and committed in writing. Engagements are typically initiated by the borrower, with lender or CDC confirmation obtained before work begins — institutions differ, so confirm the procedure with your lending contact.