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Environmental Policies › ASTM › Real Estate Transactions

Katten Muchin Rosenman LLP

Property Resilience Assessments and ASTM Standard (E 3429-24): A Potential New Due Diligence Option for Real Estate Transactions

Katten Muchin Rosenman LLP on

In order to address the growing challenges posed by escalating climate uncertainties in the real estate sector, ASTM International (ASTM) published in October 2024 the “Standard Guide for Property Resilience Assessments,”...more

Pillsbury Winthrop Shaw Pittman LLP

New ASTM Standard Aims to Facilitate Assessing Climate Risk and Resilience Considerations

Pillsbury Winthrop Shaw Pittman LLP on

Owners, lenders and investors in real property have long relied on ASTM E 1527-21, a product of ASTM International, in connection with Phase I Environmental Site Assessments. This product is used to establish that “all...more

Hinshaw & Culbertson LLP

U.S. EPA Publishes Final Rule Updating the Phase I Environmental Site Assessment Standard Under CERCLA

Hinshaw & Culbertson LLP on

On December 15, 2022, the United States Environmental Protection Agency (EPA) published the Final Rule, entitled "Standards and Practices for All Appropriate Inquiries," updating the Phase I Environmental Site Assessment...more

Farrell Fritz, P.C.

It’s Official! ASTM E1527-21 is the New Phase I Environmental Site Assessment Standard

Farrell Fritz, P.C. on

The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property.  A Phase I ESA includes a site inspection and review of current and past uses and...more

Arnall Golden Gregory LLP

Update on Performing a Phase I Environmental Site Assessment: What Standard Should Apply To Render Protection Against Liability?

Arnall Golden Gregory LLP on

For many years, it has been standard practice for prospective purchasers and even tenants to conduct a Phase I Environmental Site Assessment (“ESA”) before acquiring a new property interest. This is for two important reasons:...more

Farrell Fritz, P.C.

ASTM Adopts New Phase I ESA Standard – Impact to Environmental Diligence and CERCLA Affirmative Defenses

Farrell Fritz, P.C. on

When it comes to pre-acquisition environmental due diligence, a properly prepared Phase I ESA is the ounce of prevention that is worth a pound of cure.  Phase I Environmental Site Assessments (“Phase I ESA”) are a routine due...more

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