SIMPLIFYING THE COMPLEX

 

Phase I and II Environmental Site Assessments (ESAS)

PPM offers a broad range of environmental assessment and due diligence consulting services related to the transfer of real estate. These services range from Phase I Environmental Site Assessments to full risk mitigation and corrective action on mergers and acquisitions. We offer our services to financial lending institutions, insurance companies, Real Estate Investment Trusts (REITs), investment companies as well as individual purchasers or sellers of industrial, commercial or residential property.

 

We provide our services with the intent to:

  1. Investigate all relevant environmental concerns within the project scope;
  2. Promptly communicate any environmental concerns upon discovery which may significantly impact closing, or alter, increase or decrease the scope of work; and
  3. Compile and present findings in a clear and concise manner, allowing our clients to more easily make informed decisions pertaining to the pending property transfer.

 

Services include:

  • Transaction Screens
  • Phase I Environmental Site Assessments
  • Phase II Environmental Site Assessments
  • Soil and Groundwater Assessment and Remediation

 

In every real estate transaction, you want to be sure that your interests are protected. We can help you avoid late transaction surprises and quickly move to the closing.

For more information, call Toll-Free: 1-800-761-8675 or contact us to get more information.

Project Highlight

PPM was retained by a large propane distribution company to provide environmental due diligence services associated with the purchase of a southeastern propane supplier. The acquisition included properties in a wide variety of settings in states where the client was unfamiliar with the regulations. PPM conducted Phase I  Environmental Site Assessments (ESAs) at 20 facilities to determine if recognized environmental conditions were present at the sites. PPM mobilized a team of professionals from three offices to conduct the work. Project kickoff meetings were held to familiarize team members with the conditions unique to propane facilities; the level of effort required to produce the desired quality demanded by the client; health and safety aspects; and to lay out scheduling of all project tasks and milestones.

 

Potential onsite and offsite issues were found at five of the locations, including a former chrome bumper plating operation at an adjacent property; former automotive repair shops; miscellaneous dumping of used oil and cleaning solvents; and existing and former Underground Storage Tank (UST) systems.  PPM prepared a matrix of the issues, estimated the financial risks associated with them, and assisted the client in prioritizing which sites warranted additional assessment. Phase II ESAs were then conducted to determine if hazardous constituents or petroleum hydrocarbons were present. All of the potential concerns were mitigated through the Phase II process, including one site that required some minor excavation and disposal of impacted soils. The client was able to complete the acquisition by their targeted close date.

Project Highlight

PPM was retained by a large petroleum marketing company to conduct pre-purchase environmental due diligence investigations at 51 convenience stores in the New Orleans area. PPM mobilized a team of professionals from three offices to conduct the work within a 30-day period.  PPM then conducted 14 Phase II ESAs on sites considered to have enhanced risks of soil and groundwater impact. The studies were successfully completed on time and within budget, and the potential concerns were quantified and mitigated, thus enabling the client to complete the acquisition by their targeted close date.