The vast majority of ESA's projects revolve around the purchase, sale, or refinance of commercial and industrial properties. Consequently, ESA has an in-depth and intimate knowledge of the real estate process and how environmental issues affect that process. ESA has two goals when performing real estate services: First and foremost, we must always protect the client. Second, environmental issues impede real estate deals, so ESA does what it can to expedite a project so the deal closes as swiftly as possible.
Real estate work ranges from simple due diligence assignments to complicated Brownfield deals. Clients' needs vary as a function of what side of the deal they occupy: purchaser, seller, or lender.
Purchaser: Buyers of property want to know if the property in question is encumbered with environmental issues. While such issues are not always a deal-breaker, savvy buyers want to know well before closing if any potential areas of environmental concern exist.
Seller: Many sellers ask, "Why would I perform due diligence if the purchaser is going to do it anyway? Isn't that redundant and unnecessary?" The answer is that it may be redundant, but it is also necessary in order to negotiate the best possible deal. There are two issues that a seller must think about: Firstly, do you want the buyer to know more about your property than you do? The buyer will perform due diligence and, in so doing, they will identify potential areas of environmental concern that exist on and adjacent to your property. Thus, when it comes to negotiating the sale price, you want to be as informed as possible about your property. Secondly, do you suspect that an environmental problem might exist? If so, you certainly want to perform some form of due diligence to better define the problem prior to negotiations.
Lender: Lenders almost always require some form of due diligence when making a commercial loan or approving a refinance. Lenders are highly reluctant to collateralize properties with environmental issues.
And remember... any environmental service performed on your behalf should satisfy your ultimate goal: closing the case as quickly and as inexpensively as possible.
Some of our most commonly requested real estate services include: