Partner Engineering and Science, Inc. (Partner) performed a Property Condition Report, Zoning Report, and Phase I Environmental Site Assessment in accordance with ASTM Standards, the Environmental Protection Agency All Appropriate Inquiries (AAI) Standard, and Tower 16 Capital Partners scope of work for the 512-unit, 61-building multifamily property that was constructed within four phases between 1977 and 1985 and sited on a 29.5-acre parcel in Las Vegas, Nevada.
Partner quoted multiple level of inspection options in order to help minimize costs while meeting the needs and requirements of both the buyer and the lender. By listening to what the client needed up front, Partner quickly staffed and executed the project according to a pre-set site visit with a Certified Environmental Manager (CEM) and Assessors that also met Agency standards, in case the reports needed to be converted to Fannie Mae or Freddie Mac.
The purpose of the assessments was to provide all parties involved in the transaction with capital expenditures, including roof and unit replacement costs, pool and spa repairs and asphalt replacements; verify zoning requirements and regulations; collected Certificates of Occupancy; and report any environmental concerns from the units assessed.
As part of their requirements, Partner also completed a preliminary Lead-based Paint Inspection using x-ray fluorescence (XRF) on the buildings constructed in 1977 and sampled drinking water according to the EPA methods and standards.