Make Informed Real Estate Decisions with Confidence

A Property Condition Assessment (PCA) is a detailed evaluation of a building’s physical components and systems. The goal is to identify current deficiencies, future repair needs, and associated costs so that owners, investors, and lenders can make informed decisions. Whether you’re buying, refinancing, managing, or investing long-term, understanding the physical condition of a property is essential. Commercial Property Condition Assessments (PCAs) provide the insight you need to reduce risk, plan capital improvements, and protect your investment. It’s a critical step in the due diligence process that protects both your investment and your bottom line.

At Hillmann, we offer two types of PCAs—each designed for different stages in the property lifecycle.

Debt-Level PCA | For Acquisitions & Refinancing

A debt-level PCA offers a high-level analysis of a building’s systems and structure to support transactions and financial decisions. It’s ideal for lenders, brokers, real estate investors, and acquisition teams.

Debt-Level PCAs include:

• Assessment of all major building systems
• Identification of immediate repairs and future capital needs
• Cost estimates based on industry standards
• Aligned with ASTM standards

Equity-Level PCA | For Long-Term Owners & Development Planning

An equity-level PCA is a deeper, more investigative report for stakeholders with a long-term interest in the asset. It’s ideal for developers, institutional investors, and construction consultants.

Equity-Level PCAs include:

• In-depth analysis by specialized consultants
• Detailed corrective actions based on contractor bids
• Investigation of problem areas—not just recommendations

Hillmann’s PCA Process | What to Expect

• Fast Turnaround
  Site visits are typically completed within one week of engagement. Final reports are delivered within 15 to 20 business days, pending site access and project complexity.
• Clear Communication
  We provide early insight into red flags and recommendations before the final report—so you’re never left waiting.
• Nationwide Coverage
  With 40+ years of experience and projects completed in all 50 states, Hillmann is positioned to support your PCA needs wherever your property is located.

Meet the Team Behind the Assessments

At Hillmann, our Property Condition Assessments are led by a multidisciplinary team of experienced professionals who bring technical expertise, industry insight, and a client-first mindset to every project. Whether you’re working with our Integrated Services Group on a debt-level PCA or Hillmann Development Advisors (HDA) on an equity-level assessment, you’ll have direct access to dedicated experts who are committed to helping you make confident, informed decisions.

🔗 Connect with our team on LinkedIn to learn more about their experience and how they support our clients nationwide.

Built on Trust. Driven by Expertise.

At Hillmann, we know that smart decisions start with reliable information. That’s why our PCA process is thorough, transparent, and backed by professionals who care about your long-term success—not just the report.

PCA Resources

• Fannie Mae Multifamily Guide
• Freddie Mac Multifamily Seller/Servicer Guide 
• E2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

Ready to Get Started?

Let’s talk about your upcoming project and how we can support your goals with a customized Property Condition Assessment. Contact us today!