Oakwood Philadelphia Apartments
As part of a larger portfolio transaction, PR&A was tasked with evaluating the condition of the structure and identified a significant number of fire and life-safety items needing to be addressed. Research into the building history and the building code uncovered variances granted by building code officials which allowed for one means of egress as long as other fire and life-safety provisions were incorporated into its design. However, as a function of our review, it was determined that not all the agreed upon provisions were completed and additional substantial work was required. Reviewing a historical structure presents challenging issues which during due diligence periods can be missed due to time constraints. Our seasoned professionals can be counted on to identify anomalies that may result from converted spaces.