A Property Condition Assessment (PCA), which results in a Property Condition Report (PCR), is the visual assessment of a building's condition. PCAs are generally ordered by the lender in real estate transactions, but there are more comprehensive variations of the report specific to buyer and owner needs.
Property Condition Assessments are also commonly known as Property Assessment Reports or Property Condition Assessment Reports, and are generally written to the ASTM 2018-15 standard unless a more in depth scope is requested by the client.
PCAs are most often ordered by the lender during a property transaction to understand the risk profile of the asset, but any stakeholders in a property or portfolio may find use in the data provided, including:
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EBI Consulting was first engaged by a hotel management company in 2015 to perform refinancing due diligence on a portfolio of hotels. The portfolio consists of 92 Red Roof Inn properties spread across 25 states in the US. The properties consist of 142 unique buildings and 11,017 housing units. EBI had previously worked on many of these properties in 2007 for the same client.
EBI performed a Property Condition Report (PCR) for the Pioneer Charter School of Science, assessing a multi-story modular classroom building totaling approximately 39,213 gross square feet, and a single-story pre-engineered gymnasium building totaling 8,436 square feet, located on the Subject Property’s 2.093-acre lot. EBI performed facility condition assessments to suggest repair or maintenance on items considered customary for the property to continue in its current operation, compared to properties of similar age and condition, and assisted the client’s efforts in evaluating the property.
EBI Consulting was engaged by the Massachusetts Department of Housing and Community Development (DHCD) to complete approximately 234 Facility Condition Assessments, 233 Sustainability Assessments and 69 Accessibility Assessments for state-assisted housing developments.
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EBI’s core service area, Property and Environmental Due Diligence reports provide owners, borrowers, lenders, and other key stakeholders the information they need to make informed decisions and mitigate risk during real estate transactions.
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Your initial environmental due diligence determined you need a deeper dive. That's what we're here for.
Whether you are in the midst of a property transaction or dealing with regulatory concerns, you need to understand the risks associated with a property. EBI Consulting assists buyers, lenders, and owners in evaluating the challenges of diverse property types, providing the information required to make the best business decisions.