Environmental Due Diligence
Environmental Due Diligence (EDD) is an important part of any merger or acquisition. The importance of understanding environmental liability on a property being considered for purchase cannot be overestimated. CA environmental laws and regulations state that the current property owner is responsible for contamination that exists on their land even if a previous owner caused it. The purpose of an Environmental Site Assessment in California is to evaluate potential liabilities associated with land quality and other environmental, health and safety issues.
Are you thinking about purchasing, refinancing, or leasing a commercial property?
Environmental Site Assessments (Phase I and Phase II)
A California Phase I Environmental Site Assessment (ESA) is a tool to determine whether a property may be contaminated and is generally considered the first step in the process of Environmental Due Diligence (EDD). TITAN Environmental performs Phase I ESAs in conformance with the American Society for Testing and Materials (ASTM) due diligence standards to identify potential recognized environmental property conditions.
During the Phase I ESA, TITAN Environmental will review all readily available topographic, geologic, and hydrogeologic information. We will also review available historical land use activities at the property, interview people with a history of the property (including available owners, operators, and/or occupants), review available federal, tribal, state and local government records, conduct a visual inspection of the property and review previous environmental reports, if available.
If a potential environmental concern is identified, the next step is to conduct a Phase II investigation to collect additional information. This investigation generally includes collecting soil, soil vapor, and/or groundwater samples for laboratory analysis. This analysis and identification process is important in determining not only the risk tolerance of a potential purchaser or lender, but can also affect negotiation proceedings of a property transaction.
The CA environmental site assessment process generates sound, objective, and defensible information sufficient to satisfy diverse user objectives.
Call us today at 888-948-4826 to speak to one of our environmental professionals.