(Photo: Nykonchuk Oleksii/Shutterstock)
Insurers, lenders and investors have become increasingly concerned with building resilience, including with seismic events. While many commercial real estate (CRE) professionals are familiar with Seismic Risk Assessment (SRA) reports, another metric, building stability, can impact underwriting decisions as well.
With every damaging earthquake and new mandatory retrofit ordinance, policies are increasingly being updated to include building stability. Many financial institutions, particularly Fannie Mae and Freddie Mac lenders, will not finance properties that do not meet the term's requirements. By understanding both criteria, those with a financial stake in a property can more accurately gauge their risk exposure in relation to seismic events.
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Jason Coray, PE, SE
Jason Coray, PE, SE, is Technical Director of the Seismic practice at Partner Engineering and Science, inc. Mr. Coray has thirty years of structural engineering experience including analysis, design, evaluation, seismic retrofit, rehabilitation, forensic investigation, and assessment of hi-rise, office, commercial, institutional, industrial, and multi-family residential projects. He has designed multiple seismic rehabilitations and monitored new construction and seismic strengthening projects throughout the United States.
