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October 3, 2016

After You Sign On The Dotted Line—Why You Need A Facility Condition Assessment

By Bob Geiger

Whether you currently have a robust real estate portfolio or you are considering investing in one, you should realize that real estate is a living, breathing asset. Once you’ve signed on the dotted line, the asset is yours to manage and maintain, whether you are planning on simply turning around to re-sell or holding on to the asset for use as an investment.

As a savvy investor, you did your due diligence (a Property Condition Assessment (PCA), Phase I & II, etc.) with the help of an expert team who determined that the building or multi-facility portfolio was a solid investment. Years have passed, you have reviewed the reports, and this has proven to be true. The asset you invested in has already provided you a return on investment.

So why, you wonder, should you spend the time and money for something called a Facility Condition Assessment (FCA)? Whether your initial inspection went very well or revealed deficiencies in the building, one thing is certain: after the stress of the transaction is over, keeping up with regular “check-ups” after closing can seem both daunting and redundant. But just as you visit the doctor for an annual physical exam/wellness visit, you should be conducting FCAs over the life of the property in order to keep your living asset “healthy”.

And there’s great news:  A Facility Condition Assessment (FCA), when conducted by trusted professionals, can not only relieve stress and burden from the property owner but will end up saving you both time and money.

Continue reading the GlobeSt blog here.

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