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Property Condition Assessments: The Name That Has Set The Standard For over 27 Years.

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Pacific Center commercial property
Concourse at Landmark Center

white line Making real estate investment decisions easier through timely, clear, and actionable insights that help limit potential liabilities and maximize return on investment.

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The PCA DIFFERENCE

Property Condition Assessments, LLC (PCA) stands out from our competitors in several key ways, making us the preferred choice for architectural and engineering property condition assessments. With over 27 years of experience, PCA sets the standard for due diligence in commercial property acquisition and disposition transactions. This extensive experience ensures that our clients receive the most comprehensive and reliable assessments available in the industry.

What truly sets PCA apart is our team of dedicated professionals, which not only possess architectural, engineering, and construction expertise, but also extensive commercial real estate investment, development, and management transactional experience. This unique combination allows PCA to better understand and meet client transactional objectives, providing a level of insight and expertise that is focused on identifying potential liability exposures and client-centric solutions to facilitate successful transactions.

Furthermore, PCA is a relationship-oriented organization. We are dedicated to making real estate investment decisions easier for our clients. By providing timely, clear, and actionable insights on property conditions, PCA helps limit potential liabilities and maximize return on investment. This commitment to client satisfaction and success is what sets us apart from our competitors.

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Our NUMBERS

1997

Year Established

12,000+

Projects Completed

1 Billion +

SF Assessed

Service Footprint

National

18

Years without Professional Liability Claim

Equity Transactions

Service Focus

15+ years

Average Client Relationship

No. 1

Pre-purchase Condition Assessments

Our Services

PCA provides the convenience of a “one-stop shop” for all service disciplines related to property due diligence. Understanding that each property presents unique challenges, PCA does not offer a one-size-fits-all solution. Instead, our professional sales team tailors PCA’s scopes of services to meet the unique requirements for each engagement.

Whether you are a property owner, investor, or developer, you can trust PCA to provide you with accurate and reliable assessments that will help you make informed decisions. So why wait? Click below to explore our full range of services and see how we can help you achieve your goals.

  • Condition Assessments
  • Construction Consulting
  • Environmental Consulting
  • Energy Consulting
  • Government
  • See All Services

Featured PROJECTS

One Concourse Parkway, Atlanta, GA

2255 Kuhio Avenue, Honolulu, HI

3333 Lake Street & 3200 Kirby Drive, Houston, Texas
The Aon Building exterior facade

707 Wilshire Boulevard, Los Angeles, CA
Picture 1 Skyline Tower

10900 Northeast 4th Street, Bellevue, WA

3060 Peachtreet Road, NW, Atlanta, GA
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Why You Should Choose PCA

Scalability

Whether a transaction involves 1 asset or 100, PCA has the professional resources to get the job done with the highest level of consistency and quality.

Transaction Knowledge

PCA's team is comprised of professionals with extensive experience executing real estate acquisition, development, and management transactions.

Team support 24/7

Transactions don't fit neatly into a 9 a.m.-5 p.m. box, so PCA is committed to answering your call whenever you need us.

Quality Assurance

PCA has the most stringent quality assurance process that includes principal-level review of each report.

Faster Turnaround

PCA works to your transaction schedule, as we understand the difference between winning and losing a transaction often depends on your ability to close faster than your competition.

Tailored Reporting

Reports are tailored to facilitate your unique transaction objectives.

Client TESTIMONIALS

“Happy to recommend great people to our colleagues in the real estate industry.  Hopefully we’ll start acquiring again after the New Year and I’ll be able to reach out to you guys for assistance on our growing portfolio.”

Happy Holidays!

Best,

-Travis A Senior Vice President Commercial Real Estate

“I hope to work with your group again soon.  Your prompt responses, and professional, efficient execution of this inspection is greatly appreciated by me, and by my client.”

Thank you very much,

-Stephanie A Associate Commercial Real Estate

“Of course we use PCA, they are the best!”

-Brett F Chief Investment Officer Commercial Real Estate

“Thanks for pushing hard on this one John and team!!!!  Much appreciated.”

-Thad P Senior Vice President Commercial Real Estate

Hal, thanks again for your help with The Shores project.  You and your team did an amazing job for us and we are extremely grateful.  Please extend our gratitude to the team.
Colleen

-Colleen S Senior Vice President Commercial Real Estate

“Great job PCA team. Thank you for pulling this together in such short order for us. It was a great help. Now we need to go out and win the bid.

Many thanks, again. Well done.”

-Chris W Managing Director Commercial Real Estate

“Many thanks to the PCA Team for your hard work and amazing ability to turn around the reports under tight deadlines. “

-Colleen S Senior Vice President Commercial Real Estate

“I want to let you know how much your work at apartment property was appreciated this week/last week. Thank you for being so professional and looking out for our best interests.”

Take care,

-Art K Managing Director Commercial Real Estate

“Thanks for the quick turn on this John. Greatly appreciated.”

-Mark L Associate Commercial Real Estate

“John,

Thanks again for the timely edits and responsiveness today even though you’re travelling.  We appreciate the high level of service from the entire PCA team.”

Regards,

-Tim K Real Estate Developer

Problem & SOLUTION

Problem

Your current property condition vendor missed significant code-related and/or capital replacement items on your last acquisition that you could have legitimately used to negotiate a reduction in purchase price from the seller.

This is a common problem that is generally associated with choosing the wrong vender and scope of service due to the general misconception that all due-diligence providers have equal capabilities, or that the ASTM E2018-24 Baseline Property Condition Assessment standard is suitable for any transaction (e.g., equity vs finance). The simple fact of the matter is that most due diligence providers have a specialized focused on lender transactions, which have less comprehensive due diligence requirements than acquisition transactions.

Unfortunately, these types of costly mistakes can require you to forego or push back targeted capital upgrades in an attempt to salvage your return-on-investment. If unsuccessful, you may be forced to seek additional capital from your investors, which can jeopardize the future of your investor relationships.

Solution

For your next transaction, make sure you retain a due-diligence provider like PCA that understands the importance of tailoring a scope of services that is appropriate to the type of transaction (acquisition/disposition/finance), and will assigning a project team with specific experience geared to the level of complexity and liability exposure presented by a particular asset.

Furthermore, be sure not to assume that all due diligence providers have equal capabilities, or that the ASTM E2018-24 Baseline Property Condition Assessment (ASTM) standard is suitable for any transaction. Simply put, ASTM is a “baseline standard,” which was never intended for use on acquisition transactions, as it excludes evaluation of system capacities and adequacies, and code/life-safety compliance.

The PCA team of real estate, architectural, and engineering professionals possess decades of client-side transactional experience necessary to provide tailored solutions appropriate to any transaction. Give us a call today to learn more about how we can help limit your downside risks and maximize your return on investment.

FAQs

What Is A "Drive-By Report?"

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A Drive-By Report is the term given to lender-reports by sophisticated real estate investors. It stems from the limited on-site time spent by most lender providers when performing due diligence. The saying goes: Arrive onsite at 10 a.m., go to lunch at 12 p.m., spend a couple more hours onsite after lunch, then go home.

At PCA, we clearly state the anticipated duration of our site visits in each proposal, and our field professionals put the required time and hard work into ensuring that we utilize all available time to obtain the best understanding of an asset’s condition.

How Much Does An Assessment Cost?

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Cost depends on the type of transaction, age, size, and complexity of a project, as well as the scopes of services included in an engagement. More complex projects require greater due diligence, while less sophisticated assets may not require specialized professional expertise and associated scopes. At PCA, we always tailor our scopes of services to ensure proper matching of liability with prudent application of professional resources and scoping. As every engagement is different, it is not possible to provide standardized pricing, but you can be assured that PCA will offer lump-sum pricing offering the best expertise and value proposition available.

Is A Provider's History Of Professional Liability Claims For Errors And Omissions Important To Understand?

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It is perhaps the single most important question to ask your provider, as history of claims equates to a history of mistakes. PCA has not had a professional liability claim in over 18 years, and we won that claim. We venture there is not another due diligence provider with PCA’s longevity and history of complex transactions that can come anywhere close to our record.

How Long Does A Property Condition Assessment Take?

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Ideally, it is prudent to budget 15 business days from start to finish. PCA can typically be onsite within 2-3 business days from authorization to proceed and will provide an oral report of preliminary findings upon completion of the site visit. A complete draft report and deficiency corrective costs can typically be provided within 5-7 days of the site visit. Final reports are usually delivered within 2 business days, from receipt of final client comments.

What If I Don't Have 15 Business Days For My Due Diligence?

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PCA will always work to your transaction schedule, as we understand the difference between winning and losing a transaction often depends on your ability to close faster than your competition. Furthermore, PCA’s superior technical expertise and experience working under accelerated timeframes ensures that you will receive reliable information that will allow you to assess your risk exposure and move forward with confidence.

What Is A Key Factor To Consider When Choosing An Assessment Provider?

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Prudent due diligence starts with selecting the right provider for your particular transaction. A lender-focused assessment does not require as much architectural and engineer expertise as an equity-level, pre-purchase transaction, as lenders have a borrower’s equity as a cushion to protect against underwriting mistakes. Conversely, investors have first-dollar-loss exposure if they make a mistake in underwriting. However, given the greater liability exposure in an acquisition transaction, lender-focused providers almost without exception propose the same scope they provide their lender clientele. PCA is an equity-focused provider that specializes in due diligence for acquisitions/dispositions transactions. The following table shows the typical differences between proposed scopes from PCA and a typical lender provider.

 

PCA

(Acquisition Transaction)

Lender Provider

(Acquisition Transactions)

Scope Standard

ASTM E2018-24, plus specialized non-ASTM-baseline items that are tailored to asset complexity (e.g., roofing, cladding/curtain wall, fire/life safety, elevator assessments, etc.)

ASTM E2018-24, excluding non-ASTM-baseline items

Project Staffing

Multidisciplined team with specialized expertise, typically comprising architectural, structural, MEP/FLS, and elevator/escalator professionals

One generalist to cover all disciplines

System Capacities and Adequacies

Included

Excluded

Evaluation of Code Compliance for all Building Disciplines

Includes general compliance with federal, state, and local codes and building regulations

Excluded, including federal, state, and local ordinances, rules, regulations, fire and building codes, and life-safety codes

Evaluate Fire Rating of Building Assemblies

Included

Exclude

ADA Review

Included

Included

Work Item Cost Threshold

$2,500, except for code/life safety, which will be identified without regard to cost

$3,500

Lender Reserve Thresholds PCA does not limit total costs identified to the artificially low replacement reserve thresholds established by lenders. Lender providers seldom identify total costs that rise above a lender’s replacement reserve threshold. Their life blood is repeat business from lenders. Consequently, they understand that lenders will not give them work if they consistently identify problems that are difficult to underwrite.
Limitation of Liability

$50k, up to $1 million for additional fee

Typically limited to amount of fees

 

Is the Baseline ASTM 2018-24 Standard Suitable for an Acquisition Transaction?

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No. The ASTM standard was developed as a “baseline” assessment standard that was specifically targeted at finance transactions. And, while the ASTM allows for “out-of-scope” items that can be added for other transaction types, such as acquisitions, it specifically excludes important items like determination of system capacities, and adequacies, code, and regulatory compliance (federal/state/local), and identification of recalled building materials. For these reasons, you should never accept a baseline ASTM standard for an acquisition transaction, and always verify that the contract you execute includes out-of-scope items that are appropriate to the complexity and level of risk associated with your transaction.

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