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The AZTEC RiskReview provides an opportunity for environmental due diligence on real estate assets in a cost effective and timely manner for properties that may not require a full Phase I Environmental Site Assessment. Data for the subject property is reviewed and an opinion is rendered by an environmental professional to determine the environmental risk(s) associated with the purchase. This allows the lender to continue keeping costs down but potentially avoid a mistake that could essentially cost thousands of dollars in additional assessments, clean up and time. The AZTEC RiskReview provides the following:
- Review of current government records for the subject property and surrounding area
- Historical use research on the subject property and surrounding properties
- Review of aerial photographs
- An opinion provided by the environmental professional that researched and reviewed the data, determining the level of risk associated with the purchase of the asset
This service can be used to help with the following:
- Small balance commercial/residential lending
- Multi-family residential lending
- SBA lending (in accordance with the updated SOP 50-10)
- REIT’s
- Trusts
- Sub-prime lending
This is a very inexpensive way to provide environmental due diligence with minimal impact to time and the bottom line! Though we use the same database search required under the EPA’s AAI for the AZTEC RiskReview, this report does not provide the protection under CERCLA offered by a full Phase I.
Download our RiskReview Documentation
Phase I Environmental Site Assessments
The industry standard in environmental due diligence, a proper Phase I ESA complies with both ASTM and EPA’s All Appropriate Inquiries (AAI) regulations. With almost two decades of service to the environmental field, AZTEC provides a Phase I ESA that complies with the most current ASTM and EPA regulations, and offers the User protection under the Comprehensive Environmental Response, Compensation & Liability Act, (CERCLA) in order to identify potential or existing environmental liabilities on a real estate asset in the following situations:
- Purchase of real property by a person or entity not previously on title
- Contemplation by a new lender to provide a loan on the subject real estate
- Partnership buyout or principal redistribution of ownership
- Application to a public agency for change of use or other discretionary land use permit
- Existing property owner’s desire to understand toxic history of the property
- Compulsion by a regulatory agency who suspects toxic conditions on the site
- Divestiture of properties
With our in-house expertise and individuals licensed in the various environmental fields we can also add an asbestos inspection, lead inspection or mold assessment to the ESA, saving money and the time required to find another environmental professional that is licensed to provide those services.
Phase II Environmental Site Assessments
Occasionally, Phase I’s determine that additional research and testing is warranted based on a suspected Recongnized Environmental Condition. When a Phase II is indicated, AZTEC will develop the scope of the investigation to include testing of groundwater, soil sampling or in some cases building materials as appropriate. The testing will determine various quantitative values of various target contaminants to protect the purchaser or lender from an environmental disaster.
For more information or general questions regarding Environmental
Site Assessments please send an email to: dkdalton@aztecenvironmental.com
