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PCA and ESA services for a 93 Property REIT Portfolio - 31 States

Project Location 
31 US States
Client 
Realty Income Corporation
Completion Date 
Sunday, August 8, 2021
Project Leads 
Orion Office Portfolio

About the Project

The merger of two public REITs, Realty Income Corporation and VEREIT, resulted in the creation of a new REIT, Orion Office REIT (Orion). Realty Income Corporation, an S&P 500 company, engaged Partner to perform equity-level property condition assessments and environmental site assessments at 93 office properties in support of the disposition of its office portfolio to Orion.  Sites were geographically dispersed among 31 U.S. states and Puerto Rico and leased primarily to investment-grade clients in the healthcare, financial services, and government sectors. Numerous government tenants required our assessors to obtain security clearance before site access would be granted. This requirement, along with the size and geographic range of the portfolio, presented a challenge to complete the assessments and deliver reports within a 20-business day turnaround. By leveraging our extensive network of assessors across the United States, Partner completed the project and delivered all 186 reports on time.

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