While the scope for PCAs is generally quite standardized, certain instances warrant a more tailored approach. Aaron Kovan discusses two such PCAs “with a twist”. Most parties involved in a commercial real estate transaction will require a Property Condition Assessment (PCA) – which provides an assessment of the condition of an asset and immediate or long term improvements that may be necessary – at some point. Lenders require PCAs (also known across the industry as Property Condition Reports or PCRs) as part of their underwriting process, property buyers or developers use PCAs to understand and minimize risks in their investments, while property managers use PCA to budget ongoing maintenance costs for their capital planning.
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March 13, 2025
The hospitality sector is enjoying renewed interest from investors, with more deals in the pipeline, increased refinancings, and improved transaction volume. While the industry still faces challenges, optimism prevails for modest growth over the next year.
March 11, 2025
What are grandfathered uses, also known as legal nonconforming uses and what do you do? Partner’s experts, Alexis Whipple, and Sara Ehrentreu outline practical scenarios and explain the options that you can take in this article.
March 06, 2025
Beyond the immediate damage caused by flames, residual damage caused by smoke and soot can leave lingering effects requiring thorough restoration and clean-up of your commercial or residential property. Understanding the smoke damage cleanup process and knowing what to expect can help commercial and residential property owners navigate this challenging time more effectively.
