The fast pace of the commercial real estate and investment industry requires rapid financial decisions. To protect against potential litigation and remediation costs associated with environmental issues, financial institutions and corporations require environmental information before making a financial commitment. Due diligence is the investor’s process of investigating the details of a potential investment, such as examining operations and maintenance procedures, and verifying material facts.

 

 

Why is a Phase I Environmental Site Assessment (ESA) important?
Phase I ESAs are an essential part of any commercial or industrial real estate transaction. In general, these assessments are conducted to provide an independent professional opinion regarding the environmental conditions and/or liabilities, if any, associated with the property and are the most common tools for evaluating site history and possible environmental liability. 

 

Riebdon has performed thousands of Phase I ESAs. We understand what is required to complete each job efficiently and recognize the need to receive concise and accurate information in a timely manner.

 

What do your Phase I Services include?

Our Phase I services include: 

 

• ASTM Standard Practice E 1527-05 (meets EPA’s AAI requirements)

• Client-specific protocols

• Third-party (“peer”) reviews    

• Assessment for visible microbial growth and moisture intrusion

• Assessment of asbestos, lead, radon, and potential vapor intrusion

• Transaction screens

 

Riebdon also performs transaction screens for properties requiring relatively small loans. 

These involve a brief visual inspection of the property for obvious environmental concerns.