PROPERTY CONDITION ASSESSMENT (PCA)

PCA is an assessment to determine the current condition of a building envelope and site improvements. It is primarily directed at noting construction defects, or components, which seem to exhibit less than expected service life or which have been poorly maintained. The PCA is unquestionably a standard part of a due diligence process when acquiring, leasing or funding a commercial real estate.

SEC has provided Property Condition Assessments for all type of commercial projects, including high-rise office buildings, retail centers, industrial buildings, apartment buildings, condominiums, research and development centers, and warehouses.

SEC – PCA Scope Of Work

SEC PCA scope of service includes but not limited to the following:

• Site & Building
• Review of construction drawings, observatory survey & maintenance documents
• Structural systems
• Mechanical, plumbing, electrical
• Building exterior & HVAC systems (MPEH)
• Building interior
• Elevators/Escalators
• Roofing Systems
• Life safety/Fire protection
• Floors, pavements
• ADA compliance
• Garage/parking areas
• Review of Code Compliance
• Drainage
• Reporting

We prepare our reports in a standard format, following applicable American Society for Testing and Materials (ASTM) Standard (an industry standard) or tailored to our client's specific requirements. Thorough and concise conclusions and recommendations with associated building repairs and deferred maintenance systems are routinely provided thereby eliminating the potential for unpleasant and expensive surprises.

When considering a commercial property for the first time, or perhaps even a seasoned buyer, it's a well known fact that due diligence without an inspection by a firm experienced in the disciplines of building construction, mechanical and electrical systems and environmental matters will be incomplete. SEC is well qualified and experienced to provide these services to help our clients evaluate the risk of their purchase before committing.

"We are in the business to eliminate surprises" — Henry Ijomah, SEC Exec. V.P.

Comment From The Field

Louis Loyo, who manages the due diligence program at Dureck Investments in Houston Texas, says that Dureck relies on the PCA to assess the cost of "deferred maintenance" — those repairs that have to be made soon after a property is purchased in order to make it suitable for a new tenant. "We need to know all significant costs up front, whether they are Structural or Environmental, so we can determine the ultimate return on our investment. And we do these two assessments to figure this out."