Property Condition Assessments and Reports
Partner performs Property Condition Assessments and Property Condition Reports for lenders and real estate investors. During the Property Condition Assessment, Partner's architects, engineers, and commercial building inspectors assess the subject property in order to understand the condition of the building. A Property Condition Report is generated discussing each building system and its condition. The most important parts of the Property Condition Assessment and Report are the Immediate Repairs Table and the Replacement Reserve Table, which help the client understand how the condition of the building will impact the asset's financial performance.
Property Condition Assessments
CMBS Lenders, insurance lenders, and some portfolio lenders routinely order Property Condition Assessments (PCA), also known as Property Condition Reports (PCR) or Commercial Building Inspections. Partner prepares PCAs to meet the requirements of rating agencies such as Standard and Poor's, as well as to the scope of work defined by ASTM E2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process. Partner's PCA reports discuss all major building systems and site improvements and include a Replacement Reserve Table and an Immediate Repairs Table. The Immediate Repairs Table identifies capital needs and prices all failing or damaged building systems and life safety issues.
Real Estate Investors are interested in ensuring that their investment is a solid one, with no surprises. Partner tailors our Property Condition Assessments to the asset and the investor's concerns. Partner can perform extremely thorough building assessments where all major systems are tested and evaluated.
While more thorough evaluations are generally more expensive, Partner often saves our clients money well in excess of our fee by identifying major building deficiencies prior to our client taking ownership.
While our assessors are very knowledgeable, our assessments can be enhanced by our network of specialists. Partner maintains relationships with expert specialists in every building system. The specialist reports can then be folded into our Property Condition Report.
Property Condition Assessment Scope
- Site Assessment
- City Building Department
Building Systems Evaluated
- HVAC Systems
- Data and Telephone
- Fire Suppression Systems
- Roof Diaphragm
- Interior Finishes
- Building Envelope
- ADA Access
Partner also performs Energy Audits in conjunction with Property Condition Assessments in order to identify how energy efficient a building is, and how to increase its efficiency and reduce consumption costs.