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Property Condition Assessment
Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate. Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining. Commercial building inspectors generally follow industry accepted guidelines of ASTM E2018 or the International Standards of Practice for Inspecting Commercial Properties (ComSOP). These commercial inspection standards help both the commercial building inspector and the client to understand the scope agreed to for the inspection, including the systems or areas to be inspected, and is used as a guide to develop said scopes and procedures. Often they are done as part of a property transfer and are done along with a Phase I Environmental Site Assessment. PCAs are not to be confused with facility condition assessments, which are simil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Due Diligence
Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for an acquisition. The theory behind due diligence holds that performing this type of investigation contributes significantly to informed decision making by enhancing the amount and quality of information available to decision makers and by ensuring that this information is systematically used to deliberate on the decision at hand and all its costs, benefits, and risks. Etymology The term “due diligence” means "required carefulness" or "reasonable care" in general usage, and has been used in the literal s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Real Estate
Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes. Commercial buildings are buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, ' big box' stores, and shopping malls). In urban locations, a commercial building may combine functions, such as offices on levels 2–10, with retail on floor 1. When space allocated to multiple functions is significant, these buildings can be called multi-use. Local authorities commonly maintain strict regula ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facility Condition Assessment
Facility condition assessment is an analysis of the condition of a facility in terms of age, design, construction methods, and materials. The individuals who perform the assessment are typically architects and engineers, and skilled-trade technicians. Engineering and architectural professional opinions as to the conditions observed are part of the assessment. Building diagnostics go beyond facility condition assessments to determine solutions to the problems found and predict outcomes of the solutions. This analysis can be done by walk-through inspection, mathematical modeling (see Mathematical Model), or a combination. The most accurate way of determining the condition requires walk-through to collect data. This analysis can be performed on government/public, commercial, and private facilities. The term facility condition assessment describes work accomplished for federal, state, and local government agencies or entities, as well as private facilities. History Architectural an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Americans With Disabilities Act
The Americans with Disabilities Act of 1990 or ADA () is a civil rights law that prohibits discrimination based on disability. It affords similar protections against discrimination to Americans with disabilities as the Civil Rights Act of 1964, which made discrimination based on race, religion, sex, national origin, and other characteristics illegal, and later sexual orientation and gender identity. In addition, unlike the Civil Rights Act, the ADA also requires covered employers to provide reasonable accommodations to employees with disabilities, and imposes accessibility requirements on public accommodations. In 1986, the National Council on Disability had recommended the enactment of an Americans with Disabilities Act (ADA) and drafted the first version of the bill which was introduced in the House and Senate in 1988. A broad bipartisan coalition of legislators supported the ADA, while the bill was opposed by business interests (who argued the bill imposed costs on business) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resolution Trust Corporation
The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision (OTS) as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board (FHLBB). Between 1989 and mid-1995, the Resolution Trust Corporation closed or otherwise resolved 747 thrifts with total assets of $394 billion. Its funding was provided by the Resolution Funding Corporation (REFCORP) which still exists to support the debt obligations it created for these functions. History The Resolution Trust Corporation was established in 1989 by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), and it was overhauled in 1991., Resolution Trust C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard & Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is considered the largest of the Big Three credit-rating agencies, which also include Moody's Investors Service and Fitch Ratings. Its head office is located on 55 Water Street in Lower Manhattan, New York City. History The company traces its history back to 1860, with the publication by Henry Varnum Poor of ''History of Railroads and Canals in the United States''. This book compiled comprehensive information about the financial and operational state of U.S. railroad companies. In 1868, Henry Varnum Poor established H.V. and H.W. Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, ''Poor's Manual of the Railroads of the United States'' and ''Poor's Directory of Railway Officials''. In 1906, Lu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASTM
ASTM International, formerly known as American Society for Testing and Materials, is an international standards organization that develops and publishes voluntary consensus technical standards for a wide range of materials, products, systems, and services. Some 12,575 ASTM voluntary consensus standards operate globally. The organization's headquarters is in West Conshohocken, Pennsylvania, about northwest of Philadelphia. It is founded in 1902 as the American Section of the International Association for Testing Materials (see also International Organization for Standardization). History A group of scientists and engineers, led by Charles Dudley, formed ASTM in 1898 to address the frequent rail breaks affecting the fast-growing railroad industry. The group developed a standard for the steel used to fabricate rails. Originally called the "American Society for Testing Materials" in 1902, it became the "American Society for Testing And Materials" in 1961. In 2001, ASTM official ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Mortgage-backed Security
Commercial mortgage-backed securities (CMBS) are a type of mortgage-backed security backed by commercial and multifamily mortgages rather than residential real estate. CMBS tend to be more complex and volatile than residential mortgage-backed securities due to the unique nature of the underlying property assets. CMBS issues are usually structured as multiple tranches, similar to collateralized mortgage obligations (CMO), rather than typical residential "passthroughs." The typical structure for the securitization of commercial real estate loans is a real estate mortgage investment conduit (REMIC), a creation of the tax law that allows the trust to be a pass-through entity which is not subject to tax at the trust level. Many American CMBS transactions carry less prepayment risk than other MBS types, thanks to the structure of commercial mortgages. Commercial mortgages often contain lockout provisions (typically a period of 1-5 years where there can be no prepayment of the lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Diagnostics
Building diagnostics is the process of determining the causes and solutions to problems in buildings. More specifically, building diagnostics are holistic process of data collection methods and techniques regarding inspection and analysis, and of future prediction of faults/abnormality/defects in the condition, internal environment and performance of a building or structure, extending to services offered in the building. The three main types include ''commissioning'', ''monitoring'', and ''investigation diagnostics''. This process can be carried out unaided (using naked eye) but often aided by advanced technology such as infrared thermography, ultrasound, radar, vibration, and lasers. The end product of building diagnostics is a prediction of the likely causes of the found defects/faults in building and suggestion of appropriate remedial building solutions. As part of a property condition assessment or home inspection building diagnostics is not an exact science and is subjectiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Replacement Reserve
In electricity networks, the operating reserve is the generating capacity available to the system operator within a short interval of time to meet demand in case a generator goes down or there is another disruption to the supply. Most power systems are designed so that, under normal conditions, the operating reserve is always at least the capacity of the largest supplier plus a fraction of the peak load. Types of operating reserve The operating reserve is made up of the spinning reserve as well as the non-spinning or supplemental reserve: * The spinning reserve is the extra generating capacity that is available by increasing the power output of generators that are already connected to the power system. For most generators, this increase in power output is achieved by increasing the torque applied to the turbine's rotor. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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