Stephen A. Rice Inc.
Engineering Services for the Commercial Real Estate Industry Since 2005
Services
Providing due diligence services for commercial banks & lenders, mortgage conduits, Freddie Mac, Fannie Mae & HUD agencies, insurance companies, private real-estate companies, investment banks, & individual investors.
Property Condition Assessments (PCA)
PCAs provide a report detailing the condition & remaining useful life of all major building systems & site improvements with supporting documentation & photographs. Reports meet the requirements of rating agencies such as Standard & Poor's. The scope of work is defined by ASTM E2018, Fannie Mae, Freddie Mac & HUD. Reports identify pertinent costs in detailed tables titled Replacement Reserves & Immediate Repairs. The tables address capital needs over a defined analysis term as well as the costs to address failing or deficient building systems & life safety issues.
Property types include but are not limited to multi-family residential complexes, mobile home communities, assisted living centers, retail properties, commercial office buildings, warehouses, industrial complexes & hotels.
Components assessed typically include pavement, flatwork, landscaping, utilities, amenities, foundations, structures, exterior finishes, roofs, heating & cooling systems, plumbing equipment, electrical systems, elevators, life safety systems, interior finishes, mold issues in addition to compliance with the ADA & municipal building & fire code requirements.
Phase I Environmental Site Assessments (ESA)
Phase I ESAs provide a report identifying conditions that pose an environmental risk at a property. Concerns include contamination in vapor, surface water, soil and/or groundwater. The scope of work is defined by ASTM E1527, Fannie Mae, Freddie Mac & HUD. Complex property types include dry cleaning businesses, printing organizations, manufacturing facilities, gas stations, properties with a history of underground/aboveground storage tanks (USTs/ASTs) & locations involved with hazardous material storage. Assessments can include establishing existing risks involving asbestos, lead-based paint, drinking water quality & radon.
Seismic (Earthquake) Risk Analysis / Probable Maximum Loss (PML)
The analysis provides a report evaluating a building’s behavior during a seismic event & accurately identifies assets with high seismic risk. The scope of work is defined by ASTM E2026 and E2557.