Why New Phase I Site Standard Matters for Real Estate

By Lorene Boudreau, Mitchell Wiest, and Sara Redding
December 3, 2021

The preeminent standard for Phase I environmental site assessments — an essential part of transactional due diligence — is changing. The new standard is based on lessons learned. Interested parties in real estate transactions and mergers and acquisitions — including owners, operators, developers, lenders, insurance providers, and bond issuers and underwriters — will be affected.

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