Environmental Due Diligence: Environmental Site Assessment
Environmental Site Assessment Phase I ESA, Phase II ESA, questionnaires and transactions screens are all included in Environmental Due diligence. ESA's can take many forms, and will dependent upon the transaction type, environmental risk of the property.
Our staff’s comprehensive experience includes the ASTM, federal and state regulatory agency, and industry standard procedures and regulatory framework that are required by the Small Business Administration (SBA) and most commercial lenders, regardless of the known past history of the site, performs environmental site assessments (ESAs) and cleanups for private and government projects at commercial properties, industrial, and manufacturing facilities.
Environmental Site Assessment: Phase I and Phase II
An ESA is a report prepared for real estate agencies and/ or property owners which identifies potential or existing environmental impact liabilities. The analysis, often called an Environmental Site Assessment Phase 1 ESA, Phase 2 ESA, typically addresses both the underlying land as well as physical improvements to the property.
When is the best time to have an Environmental Site Assessment done?
It is important for the seller to provide all key environmental documents for the property like; existing Phase I ESA or Phase II ESA, environmental permits, regulatory permits, records, and reports. It is also important to have an ESA done early on during the transaction or even better, before the transaction of the property.
Property Transaction Screens
The purpose of this real estate environmental screening practice is to define good commercial and customary practice in the for conducting a transaction screen for a parcel of commercial real estate where the user wishes to conduct limited environmental site assessment (that is, less than a Phase One).
All Appropriate Inquiry (AAI)
All Appropriate Inquiry (AAI) is the formal process of assessing properties for the presence or potential presence of environmental contamination, it will evaluate historical and current use of the property in an effort to identify recognized environmental conditions (RECs) and historical recognized environmental conditions (HREC) in connection with the subject property, AAI is obtained by complete a Phase I ESA.