Due Diligence Services
ERRM conducts due diligence services financial institutions, developers, utilities, renewable energy, municipalities, and government agencies such as HUD, USDA, SBA, and Freddie Mac and Fannie Mae.
Phase I Environmental Site Assessments
The Phase I Environmental Site Assessment is considered to be the pinnacle for evaluating the environmental liability associated with a commercial real estate asset of any type. Whether the property is industrial, commercial, mixed-use, or multi-family, ERRM is able to fully assess the historical and current uses of the property. ERRM is an expert at the implementation of all the ASTM Environmental Due Diligence Standards. Our Phase I Environmental Site Assessments are done by Environmental Professionals (as defined by ASTM) who meet and or exceed the requirements of the EPA’s AAI Standard.
Our experience in Phase I Environmental Site Assessments dates back to before the development of the ASTM Standards and includes developing scope and standards for many Clients, that set the framework for the ASTM standards. Having performed Phase I ESAs on hundreds of thousands of properties, we offer our clients an expert perspective on every property type in every state in the US, Puerto Rico, and Canada.
ERRM also boasts extensive experience in conducting thorough due diligence for large tracts and utility corridors, catering to the needs of renewable energy developers and owners. Additionally, we have a proven track record in crafting comprehensive due diligence programs, encompassing assessments, and audits, for real property asset portfolios.
Phase II Environmental Site Assessments
A Phase II Environmental Site Assessment (ESA) represents a quantitative evaluation that involves sampling and analyzing soil, soil vapor, and/or groundwater on a property. Typically, this assessment aims to determine the presence or absence of hazardous substances and petroleum products on the site.
When the scope of environmental due diligence extends beyond that of a Phase I ESA, a Phase II ESA becomes essential to further investigate potential contamination at the subject property.
ERRM has developed a distinctive report that combines a Phase I ESA and a Limited Phase II Investigation. This report is an industry rarity and offers our clients two key benefits: the assurance that no regulatory action is required due to environmental impact or the necessary information to proceed with a comprehensive understanding.
Phase II ESAs adhere to relevant state or regional regulatory guidelines and applicable ASTM standards. They play a crucial role in assessing the health, environmental, and business risks at a site, taking into account factors such as the type of contaminant, concentration levels, affected media, location, regional regulatory policies, and property type. ERRM is well-equipped to interpret these risks and help clients navigate all considerations.
Typical scope of Phase II Investigations may involve:
With ERRM's expertise, you can make informed decisions about your property's environmental condition and any necessary steps for mitigation and compliance.
Property Condition Assessments
ERRM performs PCAs following the ASTM E2018 guidelines, “Standard Guide for Property Condition Assessments: Baseline Property Conditions Assessment Process.” We can customize reports to meet Freddie Mac, Fannie Mae, and client-specific requirements.
Since PCAs are often done during the due diligence phase of a project, they are often performed at the same time as a Phase I ESA, ERRM can carry out a property condition survey as they work through a Phase I ESA.