A property's condition directly impacts your bottom line. Purchasers and lenders must assess the financial impact of these issues during due diligence.
If you're buying a building or other facility—or are planning to finance a purchase—you face many considerations, from deferred maintenance and/or capital replacement costs to a lack of compliance with fire, life safety or building codes. You need answers to several vital questions:
• What are the remaining useful lives of the building systems?
• Must we reserve monies for capital replacements? What are they?
• What are the deferred maintenance costs?
• Must we address any fire, life safety, or building code issues?
• Do we face any ADA upgrade costs?
All these issues represent financial risks—and all can impact transaction value.
GaiaTech conducts focused reviews of buildings and facilities during due diligence. In strictly scoped Property Condition Assessments (PCAs), our professionals realistically assess the condition of the properties involved. We review and assess building systems and code compliance, estimating deferred maintenance and/or capital costs. We then provide opinions of the probable costs of addressing physical deficiencies identified.
GaiaTech performs standard PCAs according to the ASTM E 2018-01 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process. Frequently, too, we will undertake a wider scope of services at our client's request. Our assessments typically include:
• Site Development - Includes topography, storm water drainage, access and egress,
pavements, flatwork, landscaping, recreational facilities, and utilities
• Structural Frame and Building Envelope - Includes foundations, structural frame,
building exterior, and roofing
• Mechanical, Electrical, and Plumbing - Includes heating, ventilation and air conditioning
systems, electrical systems, and plumbing systems
• Vertical Transportation - Includes elevators and escalators
• Fire Protection and Life Safety Systems - Includes sprinklers, fire pumps, fire alarm systems,
emergency lighting, etc.
• Interiors - Includes common-area finishes, restrooms, typical office area finishes, and
special amenities such as fountains, pools, and other recreational facilities
• ADA Considerations - Although not part of the ASTM E 2018-01 baseline scope, GaiaTech
typically includes a Tier II - Abbreviated Accessibility Survey and report checklist
At GaiaTech, we match our assessment team to the scope required by the ASTM and agreed on with you. Typically, our team includes:
• Technical Leader and Client Manager - This individual is responsible for defining the scope; coordinating
with the client, property personnel and assessment team; and technical review and approval of the
Property Condition Report (PCR).
• Assessors - GaiaTech's assessors include registered engineers and architects. On buildings over six stories
and buildings with central plant systems, we typically use two assessors (one being a specialist
mechanical engineer) unless the client expressly requests only one.
• Specialist Consultants - At a client's request, of if determined to be necessary based on actual or
anticipated
requirements for a specific property, GaiaTech adds specialist sub-consultants to our team.
Such specialists can include elevator, fire/life safety, FF&E, and curtain wall consultants.
|
