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You are here: Home » Resources » Articles » The Impact of Human-Induced Earthquakes On CRE

July 6, 2016

The Impact of Human-Induced Earthquakes On CRE

By Bill Tryon

SEISMIC RISKS ARE CHANGING FOR PROPERTY OWNERS, INVESTORS AND LENDERS ACROSS THE US.

The seismic risk landscape is changing. For the first time, the U.S. Geological Survey has included “manmade earthquakes” in a study of seismic hazards in the US. In addition to that, ASTM just released revised standards and guidance for Seismic Risk Assessments and Probable Maximum Loss reports (known as ASTM E2026-16a and E2557-16a). And, the Cities of Los Angeles and San Francisco have implemented mandatory retrofit ordinances that require the correction of seismic deficiencies at thousands of at-risk buildings. Investors and lenders have yet to decide on the best way to handle these changes. We are hosting a webinar on Wednesday June 29th that looks more closely at these changes so be sure to register for that now!

First, let’s take a closer look at the impact that human-induced earthquakes have on commercial real estate in this GlobeSt blog.

About the Authors

Bill Tryon

Bill Tryon

Chief Strategy Officer
With over 30 years in the industry, Bill Tryon has developed risk management policies and procedures for one of the world’s top real estate lenders and has participated with government agencies to refine policies and requirements. He has developed a reputation for risk-based problem solving and excellence. As Chief of Construction and Environmental Services for a major real estate lender, he pioneered standards for the evaluation of environmental liabilities, property conditions, seismic and mold assessment activities. Many of his innovations and refinements have become common practice in the industry. He continues to influence due diligence practices as a member of the Environmental Banker’s Association, Co-Chair of the ASTM committee developing standards governing Property Condition Assessment, participation in additional ASTM committees, and Executive Director of the Construction Lender’s Risk Management Roundtable. As Partner’s Chief Strategy Officer, Mr. Tryon monitors industry trends and works with clients and the industry to develop policies and practices in response to emerging issues.

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