Phase I and Phase II Environmental Site Assessments are key ingredients to practicing sound due diligence. MAS staff has significant experience in conducting due diligence assessments on properties such as commercial, industrial, residential, and vacant land. Our reports follow ASTM E1527-13 Standard Practice for Environmental Site Assessments and ASTM E1528-14 Standard Practice for Limited Due Diligence protocols.
We have worked with property investors, commercial lenders and mortgage and investment banks. MAS has also worked with banks, lenders and site owners to evaluate any potential cleanup costs and financial liabilities.
Phase I Environmental Site Assessment
The purpose of a Phase I Environmental Site Assessment (ESA) is to identify any existing adverse environmental conditions or potential environmental risks. In some cases, historical land use has involved operations that may have caused soil and/or groundwater contamination. It is imperative that buyers, sellers, and lenders have properties evaluated to determine if contamination exists beneath the site or in the building(s)/structure(s) onsite prior to negotiating any sale or refinancing agreements.
As part of a Phase I ESA, MAS will perform the following:
Records review – Review of federal, state, and local governmental records to help identify recognized environmental conditions. Additional historical records, if accessible, are reviewed to determine historical land use.
Interviews – Owners, operators, and others that have knowledge of the subject property will be interviewed, if applicable, to determine property usage, and any known adverse environmental events that have occurred.
Site Inspection – A professional staff member will perform a visual and physical inspection of the subject site to determine the property’s current usage, geologic, hydrologic, and topographic conditions, and visual evidence of adverse impacts to the surface.
Phase I ESA Report – Upon completion of the records review, interviews, and site inspection, MAS will prepare a written Phase I ESA Report delineating all findings, opinions and conclusions with full documentation.
MAS can provide Reliance Letters with Certificates of Insurance (COIs) for Small Business Administration (SBA) loans.
Phase II Environmental Site Assessment
The purpose of a Phase II Environmental Site Assessment (ESA) is to determine if suspected environmental contamination is present beneath the property and to provide an understanding as to the extent of possible contamination and any environmental liabilities present.
The Phase II will typically consist of the following tasks:
Soil and/or Groundwater Investigation – MAS will collect soil and/or groundwater samples from suspect locations and have those samples screened in the field and analyzed by an accredited laboratory.
Phase II ESA Report – Upon completion of the records review, interviews, site inspection, and sampling/analysis, MAS will prepare a written Phase II ESA report summarizing all findings, opinions, conclusions, and recommendations with full documentation.