Real Estate & Facilities Services

Transaction Details Not Disclosed
GaiaTech was retained by a large national commercial REIT to conduct property condition assessments in preparation for lease termination agreements. Our work, which included PCAs at three substantial commercial properties, provided the basis for the client to recover costs for repair and deferred maintenance from the exiting tenants. Based on GaiaTech's recent exit assessments for several facilities, and on our understanding of prospective costs, we were able to anticipate that the client's return on its investment in our assessment work is several hundred percent.

Transaction Details Not Disclosed
GaiaTech was asked to perform a property condition assessment of an industrial property in Georgia which had an earthen retaining wall within fifteen feet of the main building. GaiaTech observed that the base of the retaining wall was approximately five feet below the flood plain level of the adjacent creek - a circumstance that placed the retaining wall and the adjacent building at risk during typical flood conditions. Although the resulting repair work was relatively inexpensive, the potential damage avoided on the strengthen could have cost many thousands of dollars.

Hotel & Casino
GaiaTech's client was a large commercial property owner in the hotel and entertainment industry, in advance of a proposed acquisition. We were retained to perform a property condition assessment of a Las Vegas hotel and casino with two guestroom towers. During our examination of the property, GaiaTech identified that the exterior façade system was comprised of an exterior insulation finish system (EIFS) that had been poorly installed and was exhibiting signs of premature deterioration. This included moisture infiltration at multiple locations. GaiaTech's estimate for the cost of repair of the exterior façade was approximately $1 million, and our assessment allowed our client to incorporate this prospective cost during negotiations to purchase the property.