AKT Peerless understands that a due diligence environmental site assessment (ESA) or environmental transaction screen is just one aspect of a real estate transaction. Our objective is to assure that due diligence disclosures are presented in a clear, concise, and complete report without speculation. During our assessments we identify and evaluate potential environmental liabilities that our clients may encounter when financing, acquiring, or managing real estate. 

The purpose of AKT Peerless' Phase I ESA is to provide an independent, professional opinion of any recognized environmental conditions and potential environmental liabilities associated with the real estate. When appropriate, an environmental transaction screen may be performed in order to streamline costs and turnaround time.  Based on the results of either type of assessment, we provide practical, economical, and sound environmental recommendations.

In general, a due diligence ESA includes, but is not limited to the following:
 

·         Inspecting the site to assess potential environmental liabilities, such as storage tanks, polychlorinated biphenyls, asbestos, hazardous chemicals, petroleum products, and wastes

·         Interviewing property managers or other parties familiar with the current and historical use of the real estate

·         Reviewing regulatory environmental files and databases

·         Researching site history

·         Reviewing adjacent properties to evaluate potential sources of off-site contamination

·         Reviewing property, environmental files and reports, as available

AKT Peerless' Phase I ESA meets the scope and limitations of ASTM's "Standard Practice for Environmental Site Assessments," E 1527 and E 1528, which define good commercial and customary practice for conducting a Phase I ESA or Transaction Screen, and establishing "due-diligence."  AKT Peerless' assessment is intended to satisfy the due diligence requirements to qualify for the innocent landowner defense to CERCLA liability and meet the Environmental Protection Agency's (EPA) "All Appropriate Inquiry (AAI)" standard.