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Tag Archives: Phase I Environmental Site Assessment

Environmental Due Diligence When Inheriting Real Estate

What type of environmental due diligence should you do prior to taking title to real estate that is given to you?   Is doing a Phase I Environmental Site Assessment a bit like looking a gift horse in the mouth? A Connecticut woman recently inherited a commercial property that had formerly been a gas station and,…

EDR ScoreKeeper – 2011 Trends in Phase I Environmental Site Assessments

I noticed in EDR ScoreKeeper’s Q1 2011 and Q2 2011 report that big consulting firms are growing at a larger rate than small firms.  Apparently lenders and real estate investors are increasingly choosing larger firms for their Phase I Environmental Site Assessments.   I spoke with two national lenders who said that they were trying to…

Environmental Due Diligence for Loan Work Outs

For lenders, conducting the appropriate level of pre-foreclosure environmental due diligence is crucial to managing the risk of lender-owned real estate portfolios.  Though the economy is on a tenuous path to recovery, commercial real estate foreclosures persist.  Lenders may be dealing with foreclosure backlogs for years to come. Partner’s Amy Rudegeair co-authored an award-winning article…

EEL on a Vapor Encroachment Condition (VEC)

Expected Environmental Loss (EEL) on a Vapor Encroachment Condition (VEC)? Expected Environmental Loss is a term I coined and introduced on my previous blog post.   EEL is essentially the mean or expected loss that an owner will experience if they own a given asset with an associated recognized environmental condition (or Vapor Encroachment Condition, VEC).    The term…