Make Informed Commercial Real Estate Decisions with Confidence

Whether you’re purchasing, refinancing, managing, or investing in a commercial property, understanding its physical condition is essential to making informed decisions. A commercial Property Condition Assessment (PCA) provides a comprehensive evaluation of a building’s major systems and components, helping owners, lenders, developers, and investors identify potential risks, estimate future capital expenditures, and protect their investment.

With more than 40 years of experience supporting commercial real estate transactions nationwide, Hillmann delivers Property Condition Assessments that provide the objective insight needed to move projects forward with confidence.

Two Property Condition Assessment Options, Tailored to Your Goals

Every commercial real estate transaction has different objectives. That’s why Hillmann offers two levels of Property Condition Assessments designed to meet the needs of lenders, investors, owners, and developers.

• Debt-Level PCA – Ideal for commercial real estate acquisitions and refinancing.
• Equity-Level PCA – Designed for long-term owners and development planning.

Debt-Level Property Condition Assessment

A Debt-Level PCA provides a comprehensive overview of a property’s physical condition to support financing, lending, and acquisition decisions. Our assessments are performed in accordance with ASTM E2018, the industry standard relied upon by commercial lenders and real estate professionals.

What You’ll Receive

• Assessment of major building systems and components
• Identification of immediate repair needs
• Estimated remaining useful life of major systems
• Capital reserve projections based on industry standards
• ASTM E2018-compliant reporting
• Clear recommendations to support underwriting and investment decisions

Ideal For

• Commercial lenders
• Banks
• CMBS transactions
• Real estate investors
• Acquisition teams
• Commercial brokers

Equity-Level Property Condition Assessment

For stakeholders with a long-term investment strategy, an Equity-Level Property Condition Assessment provides a deeper understanding of a property’s current condition and future performance.

These assessments go beyond identifying deficiencies by incorporating specialized evaluations, contractor pricing when appropriate, and corrective action recommendations to assist with capital planning and asset management.

What You’ll Receive

• In-depth investigation by specialized consultants
• Evaluation of significant building deficiencies
• Detailed corrective action recommendations
• Contractor-based repair cost estimates when appropriate
• Long-term capital planning support
• Customized reporting based on project objectives

Ideal For

• Property owners
• Developers
• Institutional investors
• Asset managers
• REITs
• Construction consultants

Why Choose Hillmann?

Commercial real estate professionals nationwide trust Hillmann because we combine decades of technical expertise with responsive project management and practical recommendations.

Our clients include:

• National and regional lenders
• Commercial real estate investors
• Developers
• Property owners
• Asset managers
• Attorneys
• Brokers

When critical investment decisions depend on accurate information, our team delivers assessments you can rely on.

Additional Commercial Real Estate Due Diligence Services

Many clients combine a Property Condition Assessment with additional due diligence services to gain a more complete understanding of a property’s condition before closing.

Hillmann also provides:

• Phase I Environmental Site Assessments (ESAs)
• Building Envelope Assessments
• Structural Evaluations
• Roofing Assessments
• Mechanical, Electrical & Plumbing (MEP) Evaluations
• Construction Loan Monitoring
• Environmental Health & Safety Consulting

By coordinating multiple services through one experienced consultant, clients benefit from streamlined communication, improved scheduling, and more efficient project management.

Ready to Get Started?

Whether you’re evaluating a single commercial property or managing a nationwide portfolio, Hillmann’s experienced team can help you better understand your property’s condition and support confident real estate decisions.

Contact Hillmann today to discuss your upcoming Property Condition Assessment and learn how our multidisciplinary team can support your commercial real estate due diligence needs.

Frequently Asked Questions

What is a Property Condition Assessment (PCA)?

A Property Condition Assessment is a visual evaluation of a commercial property’s physical condition. It assesses major building systems, identifies existing deficiencies, estimates future repair costs, and helps support informed real estate decisions.

Who needs a Commercial Property Condition Assessment?

Commercial Property Condition Assessments are commonly requested by lenders, investors, developers, property owners, asset managers, and commercial real estate professionals involved in acquisitions, refinancing, or long-term ownership.

What is the difference between a Debt-Level PCA and an Equity-Level PCA?

A Debt-Level PCA is typically performed to support financing or acquisition decisions and follows ASTM E2018 standards. An Equity-Level PCA provides a more detailed evaluation for long-term owners, including specialized investigations and additional capital planning recommendations.

Can a PCA be combined with other due diligence services?

Absolutely. Many clients combine a Property Condition Assessment with Phase I Environmental Site Assessments, Building Envelope Assessments, Construction Loan Monitoring, or other due diligence services to obtain a more comprehensive understanding of a property’s condition before making significant investment decisions.