PO box 362

south egremont, MA  01258

HPA offers a variety of property assessment and inspections depending on the client's needs, such as Property Condition Assessments, Property Acquisition Assessments, Commercial Mortgage-Backed Securities Annual Property Inspections and Seismic Analyses.  

Property Condition Assessment

The objective of the Property Condition Assessment (PCA) is to report on the general condition of building systems, to identify those aspects of the property’s physical condition which would require repair and/or replacement, and to estimate the cost associated with completing those repairs/replacements. The completion of such a report can assist in determining the risk associated with these costs to the property’s value.  The PCA is based on site visits during which external and internal building components, department records, and plans are evaluated. It also includes interviews with property managers and engineers.  Replacement repair cost estimates are based on the physical condition of the components, their ages, expected useful life (EUL), significant defects, and deficiencies.

Property Acquisition Assessment
Due to the complexity and/or age of some properties, a more comprehensive assessment of some or all building systems may be in order. HPA can mobilize a team of construction professionals and other specialists to provide a Property Acquisition Assessment to identify, locate, and quantify significant defects, deferred maintenance, required upgrades, and obvious code violations at the property, including, but not limited to:

  • Structural and building envelope integrity
  • HVAC and other mechanical and electrical systems
  • Fire and life safety provisions
  • Architectural features and systems
  • Zoning and building code compliance
  • Site work, paving, landscaping, and utilities
  • ADA Audit

Commercial Mortgage Backed Securities Annual Property Inspections.

Many of the parties involved in substantial commercial real estate transactions, such as ratings agencies, servicers, real estate investment trusts, and asset managers, require periodic updates to property inspection reports for their portfolios..  HPA offers Commercial Mortgage Backed Securities Annual Property Inspections to assess property conditions and potential environmental risks, as well as determine maintenance issues and evaluate maintenance operations.

Seismic Analysis (Probable Maximum Loss)
HPA conducts probabilistic studies to characterize the earthquake vulnerability of buildings and the expected loss to buildings from damage associated with earthquakes. The Seismic Analysis is intended to satisfy a critical part of the transactional due diligence requirements with respect to assessing a property’s potential for building losses associated with earthquakes.