Services
Property Condition Assessments - (PCAs) are due diligence projects associated with commercial real estate transactions. Commercial property and building inspections (also known as Property Condition Assessments or PCA's) are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, or simply maintaining.
Commercial Building Inspectors follow industry accepted guidelines of ASTM E2018, the only recognized standard of major lenders. These commercial inspection standards help both the commercial building inspector and the client to understand the scope agreed to for the inspection including the systems or areas to be inspected, and is used as a guide to develop these scopes and procedures.
Equity PCA's include recommendations from building system specialists and are primarily utilized by prospective buyers of real estate.
FCA's involve a team of one or more specialists inspecting each system in a building to understand its condition. There can easily be upwards of 100 or more systems in a building. The condition is based on any deficiencies and the remaining useful life of the system. Armed with this information, you can target the proper level of investment based upon the function of the facility.
The inspection protocol for these reports is risk based and incorporates loan rating, loan size, product type and property performance in setting the inspection frequencies. Fannie Mae and Freddie Mac each have specific screening requirements when purchasing mortgages from the lenders who initiate them. They scrutinized these screening processes including many aspects of the site and buildings including but not limited to asbestos-containing materials, lead based paint, moisture intrusion and radon gas.
PNA's are utilized by Fannie Mae approved DUS Lenders in evaluating multifamily housing properties.
ADA inspections are an evaluation of a property's compliance with the Americans with Disabilities Act (ADA) which is a federal regulation that was passed in 1990.
SRA's evaluate the condition of properties and assessing potential seismic risk for buyers, sellers, and lenders by performing analysis based on the most recent U.S. Geological Survey data.
Zoning inspections generally provide a property's jurisdiction, zoning ordinance, zoning designation, permitted uses, density, lot area and parking regulations. A zoning report tries to determine whether a property is in compliance (conforming) or is non-conforming to the local code requirements.
CM reporting provides weekly or monthly review of a client's commercial construction project. The process helps to control the investment costs and monitors the schedule for projected completion and delivery of the final product.
A Phase One ESA report is prepared for a real estate site and it identifies potential or existing environmental contamination liabilities. The analysis typically addresses both the underlying land as well as physical improvements to the property. The Phase One ESA is generally considered the first step in the process of environmental due diligence.
A variety of reports are completed for other firms as directed.