Traditional Environmental Due Diligence typically consists of a Phase I and II Environmental Site Assessment (ESA). The goal of the Phase I/II ESA is to identify and quantify environmental liabilities associated with real estate. August Mack typically represents buyers and their lenders during the environmental due diligence process and the Phase I/II ESA findings are often used by our clients to help them understand what is going on with the property. However, it is important to note that...Read More »
The purpose of a Phase 1 Environmental Site Assessment is to identify conditions indicative of an existing release, past release, or material threat of a release of any hazardouse substances or petroleum products on a property. So what defines a release?
The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) defines a "release" as "any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, or disposing into the...Read More »
The Central Indiana Chapter of the RMA presents "Commercial Real Estate Environmental Issues" on Tuesday, March 19th, at the August Mack office in Indianapolis. The program is scheduled to run from 3:00 PM to 4:45 PM and is eligible for 2 CRC credits and costs only $20. Additional information on this course can be found using the following link:
This program is designed to provide finance professionals with a working knowledge of commercial...Read More »
Tuesday, March 19, the Central Indiana Chapter of the RMA will present "Commercial Real Estate Environmental Issues" at the August Mack office in Indianapolis. The program is scheduled to run from 3:00 PM to 4:45 PM and is eligible for 2 CRC credits and costs only $20. Additional information on this course can be found using the following link:
This program is designed to provide financal professionals with a working knowledge of commercial...Read More »
Environmental due diligence is a must for lenders, owners looking to sell, and prospective purchasers in commercial real estate transactions. Depending on your role in the transaction it may prove beneficial (as well is often required by certain parties involved), to complete an assessment of the environmental conditions of a property prior to the transaction. This due diligence is often performed for the purpose of identifying and evaluating existing or potential environmental contamination on...
If you are considering a real estate transaction in Ohio and part of your due diligence process includes an environmental assessment, contact Eric Cooper at 614-798-9922 in our Ohio office. Performing this due diligence can aid in minimizing your risks and liabilities.
The Comprehensive Environmental Response, Compensation, and Liability Information System (CERCLIS) is a list of sites compiled by the Environmental Protection Agency (EPA) that the EPA has investigated or is currently investigating for potential hazardous substance contamination. CERCLIS sites are investigated for possible inclusion in the National Priorities List (NPL), a list of properties with the highest priority for cleanup.
For more information, call 800.579.0770 and ask to speak to one of...Read More »
Vapor intrusion (VI) is a growing concern in the United States. Prospective purchasers, owners, operators and occupants of real estate and associated structures are quickly learning about the costs, implications and potential legal and financial liabilities associated with a VI issue. In 2008, years after the issuance of a VI guidance document by the Environmental Protection Agency (EPA), the American Society for Testing and Materials (ASTM) released the Standard Practice for the Assessment of...Read More »
When faced with owning environmentally contaminated property many individuals, communities and corporations unnecessarily hold on to their contaminated property for a variety of reasons. It may be funds are not available to perform the clean-up necessary to attract a prospective purchaser, or the owner feels stuck with the thought there are no real credible options to offload their contaminated property. Environmental liability transfers, also known as liability buyouts, are not as complicated...Read More »
Landowner Liability Protections (LLPs) under CERCLA include the following:
- Bona Fide Prospective Purchaser Liability Protection,
- Contiguous Property Owner Liability Protection, and
- Innocent Landowner Defense
Need an All Appropriate Inquiry (AAI) compliant Phase I Environmental Site Assessment to qualify for one of these LLPs? Call 800.579.0770 and ask to speak to one of the environmental assessment consulting experts at August Mack Environmental.
When a property is undergoing a transaction (e.g., sale, refinance, foreclosure), a Phase I Environmental Site Assessment (ESA) is conducted to identify any potential liabilities associated with past or present use of the property. The industry standard for performing Phase I ESAs is based on the American Society for Testing and Materials (ASTM) Standard E 1527, which specifies industry-accepted minimumrequirements for evaluating the environmental condition of a property. The Phase I ESA is...Read More »
Register here for the free August Mack webinar tomorrow titled "The Importance of Evaluating Operational Compliance During Traditional Environmental Due Diligence." Traditional Environmental Due Diligence typically consists of a Phase I and II Environmental Site Assessment. The goal of the Phase I/II is to identify and quantify environmental liabilities associated with the real estate. In some situations, like Private Equity investment or Mergers and Acquisitions, the “deal” includes purchase...Read More »
Register here for the free August Mack webinar on Thursday, September 6th at 10:00 a.m. titled "The Importance of Evaluating Operational Compliance During Traditional Environmental Due Diligence." Traditional Environmental Due Diligence typically consists of a Phase I and II Environmental Site Assessment. The goal of the Phase I/II is to identify and quantify environmental liabilities associated with the real estate. In some situations, like Private Equity investment or Mergers and Acquisitions,...Read More »
I recently presented a webinar on environmental due diligence for commercial property transaction. In case you missed it, there was a discussion of three of the more common environmental site assessments we commonly conduct:
- Phase I Environmental Site Assessment
- Modified Phase I (MP-1)
- Records Search with Risk Assessment (RSRA)
Each is a valuable tool that can be used in a commercial property transaction. The Phase I ESA is probably the most familiar, as it was formalized to comply with the USEPA's...Read More »
This law was enacted to address the problems of hazardous waste found at inactive or abandoned sites or those resulting from spills requiring emergency response. CERCLA was amended by the Superfund Amendments and Reauthorizations Act (SARA) of 1986 with the Emergency Planning and Community Right-to-know Act (EPCRA) enacted as Title III.
Common violations include:
· Chemicals are stored onsite above threshold.
· No or inadequate...Read More »
A facility’s Environmental Manager is tasked with ensuring compliance with the ever-changing rules and restrictions of today’s environmental policies. If this is a new role it is easy to get overwhelmed and not know where to begin. Over the next week or so we will feature a series which will highlight some of the common violations found in these areas:
- Clean Air Act
- Clean Water Act
- Resource Conservation and Recovery Act
- Comprehensive Environmental Response, Compensation and Liability Act
Taken from a previously
published article in our newsletter:
Owning a commercial or industrial building can present unexpected environmental liabilities. A property owner is ultimately responsible for the environmental condition of the property which includes contamination caused by past or current tenants. Most of these environmental concerns and potential liabilities are unknown until a Phase I Environmental Site Assessment (ESA) is performed. Unfortunately, a Phase I ESA is typically driven by...
Check it out at www.augustmack.com/Newsletter/2011/September/Article0321.html