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Tagging Search Results
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1 Entries in 'Blogs'
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1 Entries in 'Calendar'
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3 Entries in 'Discussions'
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7 Entries in 'Downloads'
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1. |
The Impact of New Vapor Intrusion Standards on CRE Lending
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REFI_articleCohen.pdf
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Although still a relatively recent concern, vapor intrusion has quickly come to the forefront of environmental issues which potentially affect commercial real estate transactions. This article, which appeared in the May 5, 2008 edition of Real Estate Finance & Investment provides an overview of the new ASTM vapor intrusion standard, the impact of the standard on commercial real estate lending and the implications of vapor intrusion risk on property owners.
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Vapor Intrusion Creates Property Risk, Liability Concerns
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EDR0801.pdf
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When it comes to commercial real estate deals and environmental liability, a prepurchase Phase I environmental site assessment of the property in question covers all the bases, right? Not so fast: Unless you're also screening for vapor intrusion, you could be overlooking an important potential litigation issue. Today, more and more real estate deals are being complicated by vapor intrusion, and every stakeholder in the property transaction can be affected. (Reprinted with permission from the January 2008 issue of Commercial Mortgage Insight.)
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Commercial Lenders Welcome Guidance from New ASTM Standard for Vapor Intrusion
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lenders_vi_white_paper.pdf
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Results from two new studies provide compelling evidence that an emerging environmental risk—vapor intrusion—is at the forefront of the minds of commercial real estate lenders. The condition, so serious it has caused state regulators to re-examine properties once considered closed, is driving down
property values and creating liability— including third-party tort claims—for property owners nationwide.
While stakeholders in today’s real estate transactions have struggled to understand this latest environmental concern, ASTM International has just released a national vapor intrusion standard, and it offers muchneeded guidance for assessing and mitigating vapor intrusion conditions.
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Vapor Intrusion Issues
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vapor_intrusion_issues_PE.pdf
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Indoor air quality issues that develop when volatile chemicals from polluted soil and groundwater seep into overlying buildings, has become a significant liability issue in real estate transactions. Not only can
vapor intrusion (VI) harm human health but it can also present a business risk, causing panic in building occupants and otherwise adversely impacting, or killing, deals. Many environmental professionals (EPs)
report that their more sophisticated clients are requesting a VI assessment with their Phase I reports, and these numbers will likely increase substantially after ASTM’s standard is published. Furthermore, several
states already have VI standards. For these reasons, more EPs are bringing up the issue with clients.
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5. |
Top 10 Things Attorneys Should Know About Vapor Intrusion
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Top_10_things_Attorneys.pdf
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The release of ASTM E 2600, “Standard Practice for Assessment of Vapor Intrusion Into Structures on
Property Involved in Real Estate Transactions,” on March 3, 2008 is a significant milestone for the real estate industry in terms of providing consistent guidance for assessing properties for potential or actual vapor intrusion conditions. Given their involvement in every aspect of real estate transactions, environmental attorneys have a unique role to play in ensuring that clients understand the risks of vapor intrusion—and,
more importantly, are aware of the data available for adequately assessing a property’s vapor intrusion potential upfront to avoid liability down the road.
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