Ownership Transition Environmental Due Diligence

An industrial client undergoing an ownership transition needed to provide lender-required environmental assessments as part of the loan application process. The subject facilities included more than 50 properties totaling approximately 1,300 acres in Pennsylvania, Maryland, Delaware, and New Jersey. Nine of the properties contained shipping/distribution centers, while the remaining properties were commercial, residential, and agricultural.

In accordance with ASTM Standard Practices E1527-13 for Phase I environmental site assessments, RETTEW conducted regulatory file reviews, obtained owner/occupant questionnaires, developed historical site development timelines, and prepared and submitted detailed reports documenting noteworthy items and recognized environmental concerns (RECs). The identified RECs included above-ground storage tanks, groundwater impacts, underground storage tanks, floor drains, oil/water separators, and subsurface hydraulic lifts. RETTEW worked closely with the client’s lender to clarify any environmental risks, allowing funding of the ownership transition to proceed.

RETTEW NEWSROOM

Check out our latest updates on industry trends, corporate news, employee accomplishments, and community support.

Go to Newsroom

Corporate News, Services

RETTEW Leads Technology Discussion with Pa House of Representatives Transportation Committee

RETTEW was proud to host the Pennsylvania House of Representatives Transportation Committee for an informational meeting on Wednesday,…

Read More

Services

RETTEW is Here to Help With Tropical Depression Ida Damages

Heavy rainfall is expected over the next couple of days as Tropical Depression Ida makes its way into…

Read More