CEC provides an array of expertise and Property Condition Assessment (PCA) services to assist commercial and institutional investors and owners in reducing the risks associated with acquiring, financing, developing and maintaining facilities.
CEC performs PCAs according to the American Society for Testing and Materials (ASTM) and often goes beyond with valuable technical opinions regarding measures to correct observed deficiencies and suggested replacement reserve values – affording investors and owners better insight into effectively acquiring and owning a particular property.
CEC’s basic report documents observations and provides an objective professional opinion on the condition of each system. A replacement reserve analysis is provided based on the physical condition of the components, their ages, expected useful life, significant defects and deficiencies. Also investigated and reported are evident building code and life safety violations per the International Building Code and OSHA regulations.
CEC’s basic scope of work using the ASTM specification includes a walk-through survey of the site and building to document the condition of the grounds, pavements, drainage systems, the building’s architectural material systems and components, and the electrical, mechanical and structural systems. The basic walk-through survey includes an American Disabilities Act (ADA) Tier I – Visual Accessibility Survey. An interview with the property manager is conducted to collect information on utility providers and the age of building system components, and to identify systems with delayed maintenance or repair. If additional information is needed following review of the basic report, CEC routinely provides more comprehensive evaluations of building code, structural, mechanical and electrical systems or provides ADA Tier II or Tier III accessibility analyses.
Additional CEC due diligence services include:
- Land Surveys
- Local Ordinance and Building Code Compliance Reviews
- Environmental Assessments (Phase I ESAs) and Compliance Audits
- Pavement Evaluation and Design
- Geotechnical Investigations
- Floodplain/Floodway Identification
- Stormwater Assessments and Maintenance
- Land Planning
- Energy Audits
Recognizing and considering expenditures beyond normal maintenance through performance of a PCA is essential to the transaction decision-making process. Managing these expenditures includes early identification, quantification and communication of the anticipated costs to decision-makers. CEC has expertise in PCAs and other due diligence services for real estate acquisition, financing and development. CEC also can provide analysis and design services beyond initial acquisition and financing of properties throughout the building life cycle, including site infrastructure management, design and
sustainability-related services.
