Environmental site assessment services are commonly used to support decision-making during Merger and Acquisition processes. The reason for this is that acquirers wish to receive reliable information on the subject of the deal, especially on existing risks and potential obligations related to accurate estimation of the asset values. At the same time, the seller’s concern lies in the preventive work to rule out or minimize existing risks in order to raise the value of assets. These issues not only affect the company’s capital expenditure and operating costs, but also damage its reputation, decentralize management resources, and reduce asset value.
Phase I Environmental Site Assessments (ESA) from TORA meet the most current ASTM Standard for Phase I Environmental Site Assessments, and involves the following activities:
■ Site inspection
■ Adjacent/surrounding reconnaissance
■ A review of historical documentation (i.e. geodata, city directories and aerial photographs)
■ A review of hazardous material and petroleum product storage, spill and disposal records
■ Local, regional and state agency file review
■ Interviews with the property owner, tenants and property managers
■ A preparation of a report documenting the findings, conclusions and recommendations
■ Asbestos, lead and mold evaluation (on request)
Reports from TORA are designed to be clear and concise. Our Phase I Environmental Site Assessment (ESA) reports are an essential part to many commercial and industrial real estate transactions and are conducted in accordance with the most current ASTM E 1527 Standard Practice for Environmental Site Assessments.