Environmental Due Diligence
Environmental due diligence is a process that evaluates the environmental conditions and risk associated with a property. The process can be at the request of a private owner, lender, attorney, developer, etc. and for different reasons. Triterra most commonly conducts environmental due diligence assessments on behalf of users who intend to purchase, refinance, or occupy a property. The various types of assessments help a user understand environmental issues and recognized environmental conditions (RECs) that may need to be further addressed in order to safely own or operate the property. The user can also gain environmental liability protection for properties that are contaminated and use assessment findings to direct project development activities and financing.
We develop effective environmental solutions to help move your project forward without the complications.
Each year, Triterra performs numerous Environmental Due Diligence Assessments (Phase I & II Environmental Site Assessments, Transaction Screens, etc.) in response to property transactions throughout the Midwestern United States. Our environmental due diligence platform is a well-developed process that utilizes industry best practices in consideration of deal-specific requirements (i.e. lending institution policies, MSHDA or SBA procedures, time constraints, need for confidentiality, etc.). We understand that every transaction and parcel of real estate is unique and that environmental issues can limit real estate sales, use, and value. Therefore, it is important to complete the environmental due diligence process and understand what environmental issues may pose a risk to the transaction or overall project goals.
Often the first step in the process is a Phase I Environmental Site Assessment (ESA) performed in conformance with the American Society for Testing and Materials (ASTM) International Standard E1527-13 and on behalf of the user. The standard meets All Appropriate Inquiry (AAI) rules that qualify an innocent landowner, contiguous landowner, or bona fide prospective purchaser as defined by Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Other types of assessments are an option and may be appropriate if a less comprehensive evaluation is needed by the user.
When environmental issues or RECs are identified and additional investigation is warranted as part of the environmental due diligence process, a Phase II ESA is proposed. The Phase II ESA generally involves intrusive sampling of soil, groundwater, and/or soil gas to evaluate if potential contamination exists on the property. When contamination is identified, Triterra communicates the significance of the results and identifies strategies to minimize the potential risk for the user. In Michigan, buyers of a contaminated property may complete a Baseline Environmental Assessment (BEA) that limits their liability for existing contamination. However, a new owner still must exercise Due Care to protect human health and the environment as part of the future use of the contaminated property. Other circumstances may require that remediation or other corrective action be taken.
Our Environmental Due Diligence Services include:
- Phase I Environmental Site Assessments
- Environmental Transaction Screens
- Records Search with Risk Assessments or Desktop Reviews
- Custom Environmental Property Screens
- Construction Loan Monitoring
- Phase II Environmental Site Assessments
- Geophysical Surveys
- Soil Gas and Indoor Air Investigations
- Exploratory Test Pits
- Baseline Environmental Assessments
- Plans for Compliance with Section 20107a or 21304a
- Response Activity Plans and Documentation of Due Care Compliance
- Environmental Construction Management Plans
Faced with Complex Environmental or Regulatory Challenges?
We understand that environmental solutions are never cut and dry. Send us the details of your project and a member of our team will respond in a timely manner to discuss your project, your needs, and start developing the best solution for you.