EI has been providing due diligence services for the past 20 years for lenders, developers, borrowers, and investors. EI personnel have performed these services in all 50 states and abroad.
EI utilizes a number of controls to ensure that Phase I’s are completed in a uniform and professional manner. Phase I’s are completed using the ASTM E 1527-13 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process. Completed Phase Ones are then subjected to a series of reviews for thoroughness and accuracy. This quality control process is completed by a team of Report Managers who operate from EI’s Headquarters. Our Report Managers have a significant amount of education and experience in areas that make them uniquely qualified to assess the potential for liability in real estate transactions.
This level of assessment is only typically used for properties that are not believed to have current or historic site uses that are likely to have impacted the subject property. The assessment includes a site inspection, a limited evaluation of the historical use of the subject property, and the review of an environmental database search. Completion of the Transaction Screen Process in accordance with the ASTM 1528-14 Standard Practice may allow the user to conclude that no further inquiry is needed to assess the environmental conditions of the property. This will allow the user to invoke the innocent landowner defense without performing a Phase I Environmental Site Assessment. Although transaction screens are similar to a Phase I environmental Site Assessment, they involve a smaller scope of historical research at a lower cost. While a transaction screen should not be used in place of a Phase I, it may be a very useful tool in providing environmental protection on properties where no environmental assessment would otherwise be performed.
Should areas of concern be identified during a Phase I, EI is available to further investigate the concern through a Phase II Environmental Site Assessment. A Phase II evaluation typically includes sampling of soil, groundwater, surface waters, or suspected hazardous materials on or off the subject property. Data from the sampling effort is compiled and evaluated to determine the extent of the contamination on the site.