DUE DILIGENCE / ENVIRONMENTAL SITE ASSESSMENTS
At ASE Consulting we have a diverse group of experienced environmental and real estate
professionals to meet your needs. ASE Consulting provides comprehensive reporting and
consulting services to support the acquisition of, investment in, asset management of, or site
selection of commercial real estate. Environmental risks can also have significant impact on
the viability and credit quality of your real estate property transactions. ASE Consulting's goal
in completing a phase I environmental site assessment (ESA) is to help you understand the risks
completely in a clear and unambiguous manner. Our experts can perform an environmental site
assessment that will alert you of any potential environmental risks.
Our environmental coverage area is throughout the Great Northwest which include Washington, Idaho, Oregon and Montana. Our staff of hydrogeologists and geologists conduct all of the ESAs to strict ASTM standards.
Environmental Site Assessments
Adverse environmental conditions can drastically impact the value of real property. The purpose of a Phase 1 Environmental Site Assessments (ESA) is to identify and document the current and historical environmental conditions of commercial real estate with respect to the range of contaminants within the scope of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and petroleum products. The Phase 1 ESA is intended to permit a user to satisfy one of the requirements to qualify for the innocent landowner defense to CERCLA liability.
Phase 1 Environmental Site Assessments
ASE Consulting's Phase 1 ESA's are performed in general accordance with the American Society for Testing and Materials (ASTM) Standard Practice E1527-05. ASE Consulting's professionals conduct each assessment with strict confidentiality and are able to handle time-sensitive projects arising from property transactions.
The Phase 1 ESA includes:
• Site and surrounding area reconnaissance. Specific attention is given to evidence of spills, existence of storage tanks, possible sources of polychlorinated biphenyls (PCBs), and indications of improper use of hazardous substances.
• Interviews of individuals knowledgeable of the site and its historical usage
• Review of historical aerial photographs and insurance records to assess the site's historical land utilization and for indications of potential contamination or sources of contamination
• We review the National Priorities List (NPL) and Comprehensive Environmental Response, Compensation and Liability Information System (CERCLIS) listings, the Resource Conservation and Recovery Act (RCRA) facilities list, pertinent state and local agency records, and a commercially available database.
• Additional issues may be assessed in connection with the Environmental Site Assessment, such as asbestos, lead-based paint, lead in drinking water, or radon.
• Some clients require property transaction due diligence that exceeds the ASTM guideline; for example, to obtain proper rating from a Wall Street rating agency. ASE Consulting's environmental site assessments can be modified to your needs and to suit your transaction.
Limited Environmental Screen
The Limited Environmental Screen report is recommended for very low-risk properties where the history of the property is already known. This report does not include a site inspection. Please note that this initial report may indicate a need to do the more intensive Phase I Environmental report, if the initial records search indicates a potential for current or historical Recognized Environmental Conditions (RECs). The Limited Environmental Screen report includes the following:
• Government environmental database search
• Review of at least one readily available historical record (aerial photographs, Sanborn maps, etc.)
• Written analysis of nearby listed properties of concern to determine potential impact to the subject property
• Transaction Screen Questionnaire answered by owner and/or occupant
• Limited conclusions regarding potential environmental risk.
Transaction Screen Assessment reports adhere to the American Society of Testing & Materials Standard E-1528-06. However. most lenders no longer accept these reports to meet their due diligence requirements, based on the new EPA Phase 1 Environmental Site Assessment standard. Still these reports can be useful as an initial screen on low-risk properties; some lending institutions continue to use these reports to assess environmental risk for a low-risk property prior to underwriting a loan
General Inspections:
Furthermore, our staff appraisers can also provide onsite data collection and the analysis of the general conditions of the property, the strengths and risks of the site, and description of the surrounding commerce and the impact on the subject. At ASE Consulting we can provide many levels of reports and customize each report to your specific Scope of Work. Whether you need environmental site inspections, due diligence or just aren't sure, talk with us first.
• Lenders Site Due Diligence
• Annual Site Inspections
• Acquisition Due Diligence
• Inventory of Real Estate Assets
• Aerial Photography Management
• Raw Data Collection
