On March 27, 2009, Partner Engineering and Science, Inc., closed on an Asset Purchase Agreement with LandAmerica Assessment Corporation ("LAC") to purchase the assets of LAC. Partner announced the acquisition in a press release issued on March 30. For new orders, on-going reports or completed reports call Partner at 800-419-4923.
In addition to digital assets, existing environmental reports and LAC's "best-in-industry" software systems, Partner purchased outstanding LAC accounts receivable. Customers should direct payments to LandAmerica Assessment Corporation, c/o Partner Engineering and Science, Inc., 2154 Torrance Blvd, Ste 200, Torrance, California 90501, Phone: 800-419-4923.
Understanding the condition of a structure, as well as the major building systems and components, can be critical to determining the economic viability of a commercial real estate transaction. LandAmerica Assessment Corporation (LAC) has extensive resources including licensed engineers, registered architects, construction experts, and cost analysts to accurately assess the condition of a property and its systems. Our services include:
Due to the complexity and/or age of some properties, a more comprehensive assessment of some or all building systems may be in order. LAC can mobilize a team of construction professionals and other specialists to inspect a building. The assessment will identify, locate, and quantify significant defects, deferred maintenance, required upgrades, and obvious code violations at the property.
LAC’s Property Condition Assessments are based on a site visit where external and internal building components, department records, and drawings are evaluated. The assessment also includes interviews with property managers and engineers. Replacement repair cost estimates are based on the physical condition of the components, their ages, expected useful life, significant defects, and deficiencies.
LAC specializes in conducting probabilistic studies of the expected loss to buildings from damage associated with earthquakes and are used to characterize the earthquake vulnerability of buildings. The reports assess the probable and scenario loss potential. They are intended to allow the user to satisfy a critical part of the transactional due diligence requirements with respect to assessing a properties’ potential for building losses associated with earthquakes.