Environmental Due Diligence

Environmental Due Diligence during a commercial real estate transaction can include Phase I and Phase II environmental assessments. Such assessments are often undertaken in the United States to avoid liability under the Comprehensive Environmental Response, Compensation, and Liability Act, (CERCLA), commonly referred to as the “Superfund Law”.

Phase I Environmental Site Assessments (ESAs)

The Phase I ESA, when conducted in accordance with the American Society for Testing & Materials (ASTM) E-1527_05 standard, is designed to minimize risk and/or exposure to the buyer, lending institution, or current owner. Our Phase I ESAs comply with the All Appropriate Inquires (AAI) rule that was promulgated by the United States Environmental Protection Agency on November 1, 2006. This is the type report required by FDIC member banks and most other lending institutions.

Only a qualified environmental professional, as defined by ASTM E-1527-05, conducts your Phase I ESAs. Our Phase I ESAs are custom tailored to meet your needs and meet or exceed the ASTM standards. This means that our assessments provide the information that you need before making an important investment decision. When compared to the cost of property and structures, a Phase I ESA is a very inexpensive tool designed to assist with making the real-estate investment decisions and limiting potential future liability. The shelf life of a Phase I ESA is specified as one year with some updates required after 180 days.

Phase II Environments Site Assessments (ESAs)

Our Phase II ESAs are custom tailored to meet client’s needs and budgets. All our Phase II ESAs are conducted in accordance with ASTM Standard for Environmental Site Assessments and/or local, state, and federal requirements. The typical objective is to determine whether contamination is present and to characterize the nature of the extent of the contaminants.

Phase III Corrective Action Plans

Once the full extent and type of contamination has been assesses our environmental professionals can complete a comprehensive Corrective Action Plan (CAP) The CAP includes a remediation closures goal(s) and the remedial technology(s) to be utilized for a specific site.

The CAP describes conceptual designs to remediate a site to required action level(s). Upon approval of the CAP, our team implements the appropriate system. We have a wide range of experience with remediation projects including treatment of contaminated soil, ground water, sludge: the recovery of free phase product: decontamination of surfaces and structures: and the removal mold, asbestos, and lead from a structure(s).