The buildings tell the story – we know how to read it and interpret it for your understanding.
Property Condition Assessments
PCAInc. performs thorough reviews of existing buildings to determine their current physical condition. Property Condition Reports are done according to the standards set by ASTM E2018. To ensure that your due diligence is being performed properly and thoroughly, you should require that the assessment meets this nationally accepted standard. The scope of our evaluations include the property area and infrastructure, building structure and envelope, plumbing and electrical systems, HVAC, fire protection and life safety systems, vertical transportation, and interior finishes. We estimated costs and expected timing of maintenance a building owner should anticipate over immediate, short and long-term time frames. A due diligence property condition assessment should be performed prior to purchasing a commercial building or in developing/updating a capital reserve budget to plan for future building maintenance needs.
A property condition assessment is also recommended for those companies entering a triple net lease to determine the existing property condition and what costs can be anticipated over the next five years, or the expected duration of the lease. A property condition assessment can provide a property owner with an independent assessment of the condition of a property at the end of a triple net lease.
Don’t purchase a commercial property without understanding its deficiencies and future costs to be expected. A property condition assessment report allows buyers to negotiate a fair price and have a better understanding of the long term maintenance requirements.
Construction Plans and Cost Reviews
PCAInc. regularly performs construction plans and cost reviews for its clients. We utilize our expertise in the local construction markets we serve to assess the feasibility of a variety of types of construction projects.
We are well skilled at providing a critical review of construction documents and are able to provide a meaningful opinion regarding the costs of construction. We provide a critical review of the construction documents including but not limited to the Agreement between the Owner and Contractor (AIA A101) and the contract between the Owner and Architect, Construction Schedule, AIA G702/703 showing construction cost breakdown, schedule of values with unit pricing, Contract information to include contract pricing, contractor fee, shared savings agreement, performance bond, and termination provisions, complete set of latest Construction Plans & Specifications, the Contractor’s Qualifications (AIA A305), Contractor Insurance Requirements, the Geotechnical Report, and the Phase 1 Environmental Site Assessment.
Our turnaround time on these reviews is typically 7-10 from receipt of the necessary documentation.
Construction Monitoring
Our reports include a review of Building Permit notation, Notice of Commencement properly posted in accordance with Florida statute, sitework and vertical construction, manpower and stored materials on site, retainage, adherence to schedule, and a detailed written report complete with photographs documenting these findings. Our lending partners rely on us to be their eyes and ears on the job sites they are funding, and we take that responsibility seriously.
Upon request, we can be out to the job site and have a detailed report back to you in 3-4 days.
Construction Loan Administration
Construction loan administration includes detailed budget tracking to include the creation of a Sources and Uses spreadsheet, creation and maintenance of a Notice to Owner and Lien release tracking spreadsheet, inspection tracking and post-loan approvals of draw requests.
Owner’s Representative
Attend design review meetings, manage the construction testing program, advise on subcontractor selection, perform a pre-construction critical cost review and advise on proposed change orders, attend on-site construction meetings with the general contractor on a weekly basis, attend monthly construction draw review meetings, provide construction draw approval reports, and provide construction loan administration
Capital Reserve Budget Development
After performing a condition assessment of the property to determine the existing condition of the facility, calculate quantities, and estimate future needs, a capital reserve plan will be developed. We will also review the existing capital reserve plan/budget if one exists and incorporate the near term maintenance needs, projecting the future capital reserve needs for the next 30 years.
