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You are here: Home » Projects » PCA and ESA services for a 93 Properties, 31 States for REIT Portfolio

PCA and ESA services for a 93 Properties, 31 States for REIT Portfolio

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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Project Location
31 US States
Start Date
August 8, 2021
Client
Realty Income Corporation

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