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PCAs With A Twist

Property Condition Assessments (PCAs) are a typical part of most real estate transactions.

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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