Since the COVID-19 outbreak, demand for hotel rooms remains low, and the resulting loss of revenue is leading to foreclosures. According to a May 2020 report by Trepp, LLC, over 500 hotels are currently in foreclosure. While these assets may appear attractive to opportunistic investors, the extraordinary circumstances of the coronavirus pandemic demand extraordinary due diligence. Buyers wishing to capitalize on discounted hotel properties should employ the due diligence assessments recommended for all property acquisitions, plus additional assessments to address risks associated with COVID-19. Read the complete breakdown here on GlobeSt.com.
November 19, 2024
A Practical Guide to PFAS: From Phase I ESAs to Remediation Following the EPA’s 2024 ruling designating PFOA and PFOS as hazardous substances under CERCLA, managing PFAS risks in environmental […]
September 23, 2024
When it comes to PFAS risk and liability, assembling a team of experts is crucial. It is advisable that you rely on the expertise, guidance, and insights of an experienced environmental consultant, a knowledgeable environmental attorney, and a skilled insurance broker familiar with emerging contaminants.
September 27, 2024
In commercial real estate transactions, particularly convenience stores (C-stores) with gas stations, conducting the Phase I Environmental Site Assessment (ESA) is traditionally considered to be the buyer's responsibility. However, sellers can also benefit significantly from conducting a Phase I ESA before listing their property for sale.
