Phase I Environmental Site Assessments
For More Information:
Gavin Jones, REA
800-419-4923
GJones@PARTNEResi.com
Environmental Due Diligence
Phase I Environmental Site Assessments are the central product in Partner’s Environmental Due Diligence practice. Phase I’s are our core environmental expertise.
Phase I Environmental Site Assessment
A Phase I Environmental Site Assessment is the gold standard for evaluating the environmental liability associated with a real estate asset. Partner is truly an expert at the implementation of the ASTM 1527-2000 and ASTM 1527-2005 standards. Our Phase I's are done by Environmental Professionals who meet the requirements of the EPA’s new AAI Standard.
Our experience in Phase I's dates back to before the creation of the ASTM Standards. Having performed Phase I's on tens of thousands of properties, we offer our clients a perspective on every property type.
All Appropriate Inquiries” Rule
The EPA’s All Appropriate Inquiries Rule governing the scope of Phase I Environmental Site Assessments went into effect on November 1, 2006. The real estate industry’s response was mixed, with some lenders adopting the new standard and other lenders holding on to the ASTM 1527-2000.
Partner is providing both types of reports to the industry. Our key executives have been instrumental in instructing lenders by speaking at conferences and conducting seminars on the advantages of the new AAI Standard.
Phase I Scope:
Site Visit
- Inspection of the Site by an Experienced Inspector
- Catalog the Presence of Hazardous Materials or Petroleum Products
Historical Research
- Historical Aerial Photographs
- Reverse Street Directories
- Building Permits
- Planning Records
- Topographical Maps
- Sanborn Fire Insurance Maps
- Department of Oil and Gas Maps
- Title Information
Geology and Hydrogeology
- Soil Type
- Geological Setting
- Groundwater Depth
Regulator Research
- Fire Departments
- State Environmental Agencies
- Federal Environmental Agencies
Interviews and Document Review
- Interview Tenants and Owners
- Interview State and Local Regulators
- Review Provided Reports
Limited Environmental Due Diligence Products
While the Phase I Environmental Audit is clearly the standard for environmental due diligence, many lenders have come to rely on limited products as business decision tools. These limited products are often used for low risk assets or low dollar transactions. Partner has a wide variety of products that will help our clients achieve their goals and understand environmental risk.
Environmental Transaction Screen
Environmental Transaction Screens are the most widely accepted limited product and are typically done to meet the requirements of ASTM 1528-06.
Limited Environmental Site Assessment
The scope and price of a Limited Environmental Site Assessment is between the Phase I and the Transaction Screen. The scope is usually customized, designed to meet the lender’s specific requirements.
Environmental Historical Report
This very economical report provides great value for low risk asset types. The Environmental Historical Report accesses many of the same historical resources as in a Phase I to assure the lender or investor that the site has always been low risk.
Environmental Database
Partner orders a database report and reviews the report for the lender. Our client’s can take advantage of our purchasing power on the database product and save time by having an environmental professional review the database.
Custom Products
Partner is capable of designing any scope that a client needs to address their specific concerns.