In one sentence
An engineering review to the ASTM E2018 standard covering the building's systems and structure, with cost tables for immediate repairs and long-term reserves.
The longer version
The PCA walks structure, envelope, roof, mechanical, electrical, plumbing, and life safety, then prices what needs fixing now and what will need replacement over the loan term. Lenders wire the output into the deal as repair holdbacks and replacement reserves.
The immediate repairs table often becomes a post-closing obligation with deadlines, which means it needs an owner and a tracker, not just a PDF in a folder.
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