REAL ESTATE DUE DILIGENCE
CONNOR provides a wide range of environmental due diligence services for multifamily properties, as well as industrial, commercial, and institutional buildings. We are able to meet aggressive implementation and reporting requirements that are required for the sale, refinancing, acquisition or analysis of property.
The sound structure of a CONNOR report delivers information drawn from expert on-site assessments and comprehensive research. Clients are provided with a complete and detailed, report, clearly portraying areas of concern; customized to satisfy specific client needs.
ENVIRONMENTAL SITE ASSESSMENT FOR REAL ESTATE DUE DILIGENCE
CONNOR’s Phase I ESA Reports begin with a summary table that serves as a fast track guide to the pertinent facts and findings of the assessment. This valuable display charts potential environmental hazards, corrective actions, and the possible need for Phase II assessments. Reference sections, page numbers and applicable photographs are included for simple access to detailed descriptions of the findings charted.
Following the summary table is a comprehensive table of contents, detailing each area of the report. Leading into the assessment, CONNOR provides an overview of conclusions, summarizing the findings and recommendations.
ASTM Property Condition Assessments (PCA)
Performing complete and thorough Property Condition Assessments (PCA) utilizing sound engineering principles, historical experience and conformance to ASTM standards and published guidelines (ASTM E2018–08 – Standard Guide for Property Condition Assessments: Baseline Property Assessment Process). Providing reliable reporting for a variety of property types and clients, including, but not limited to, pre-purchase due diligence, commercial property refinancing and operations and management.
Housing & Urban Development
HUD MAP & LEAN PCNA
CONNOR has established relationships with HUD offices across the country and has created working relationships between our clients and HUD. This has lead to hundreds of successful projects through the performance of on-site assessments and by providing for our clients HUD MAP 223(f) and HUD Lean 232 (f) / (a)(7) Physical Inspection Reports (PIR) that meet their needs and exceed their expectations.
HUD 221(D)4 – A&E / COST REVIEW
There from the beginning, right through to the end, a certified, qualified professional will be assigned to the individual project. He or she will be available for guidance, review, decision making and analysis, in relation to the architectural, engineering and cost review process and submission.
FANNIE MAE PNA / FREDDIE MAC PCR
Site assessments that conform to “Fannie Mae Multifamily Physical Needs Assessment” (PNA) and “Freddie Mac Multifamily Engineering and Property Condition Report” (PCR), and which are vital to clients in their investment decision-making processes; assessments include, but are not limited to, pre-purchase due diligence, multifamily refinancing and foreclosure processing reviews.
USDA RURAL DEVELOPMENT CNA
Site assessments catered to meeting the standards and requirements in relation to the USDA’s Rural Development Capital Needs Assessment (CNA) program. CNA “provides consultations, assistance and funding opportunities for individuals and businesses located in rural communities.” – www.rurdev.usda.gov
STATE HOUSING FINANCE AUTHORITY GUIDELINES
CONNOR has provided many property condition assessments in accordance with the guidelines of various state housing finance authorities.
CONNOR Phase I ESA Reports reflect thorough research of the site property. Aerial photography, historic maps, regulatory databases, Freedom of Information Act (FOIA) requests, and interviews provide CONNOR the tools to examine and report on the regulatory status, historic use and environmental issues of the project site and its surroundings. Environmental conditions of the property are reported on in part, from a review of topographic, geologic, hydrogeologic, and hydrologic documentation, obtained and provided by CONNOR.
Assessment and observation of the project site allows CONNOR to detail the general vicinity, current use, building systems, and surface features. These on-site assessments provide information to identify potential environmental hazards such as storage tanks, run-off, and (waste/hazardous) material management. CONNOR’s in-depth assessment determines if there is a need for environmental testing; sampling for Lead-based Paint, Asbestos-Containing Materials and Radon Gas are performed based upon the date of construction and scope of work. Analytical results are discussed in the report identifying these contaminates.
A property status review is performed, and cost-effective recommendations to bring the property into compliance with federal, state and local laws and regulations are presented where needed. Documentation obtained, examined, and created by CONNOR is referenced in the report and presented in a series of appendices. Maps, libraries, questionnaires, certifications, letters, and detailed photographic logs represent some inclusions, customizing the report to meet the directives of the lender.
PHYSICAL NEEDS ASSESSMENT (PNA)
CONNOR’s PNA reports begin with a summary table that serves as a quick guide to the pertinent facts and findings of the assessment. This table breaks down the property into major components and gives both qualitative ratings and quantitative costs. Th is table also includes a summary of the individual immediate repair items, as well as the total replacement reserve amount, and the per unit, per year costs.
Following this summary table is an executive summary, which includes the methods and standards used in the inspection, a descriptive summary of the findings, and a detailed list of recommendations.
CONNOR PNA reports include photographs of major items and any immediate or replacement reserve items found during the survey. Each CONNOR PNA also includes observations with regard to mold and moisture infiltration. If mold or moisture infiltration is observed, our report will supply recommended actions to help you make an informed decision about how to proceed with rectifying the situation.
The heart of a CONNOR PNA is the report body, which includes detailed descriptions of each major component of the property, such as: site landscaping, paving and drainage, foundations and framing, exterior envelope, mechanical systems, electrical and plumbing, fi re protection, and interior finishes. Our component descriptions include the type of materials used, ages, conditions, and recommended repairs and/or reserves.
CONNOR PNA reports also include an accessibility review of the property. Where necessary, our PNA reports will also include a seismic analysis to meet your underwriting needs. A CONNOR PNA report provides a thorough, detailed and accurate analysis of your property, to allow you to make a more informed financial decision.