[SOURCE]
In the environmental risk market, who are the market makers? In the world of real estate, the most influential
market makers are lenders. Lenders define risks that can be financed and those that must be mitigated. Lenders drive voluntary cleanups of properties and act as de facto regulators. Sixty of the nation’s most prominent environmental risk managers, bankers, and consultants recently took part in a survey designed to find out how they evaluate environmental risk associated with real estate. The survey, conducted by Partner Engineering and Science, a national engineering, environmental, and LEED consulting firm, attempted to find participants’ tolerance levels. For example, at what stage does a consultant recommend a Phase II Environmental Site Assessment (ESA) based on the findings of a Phase I ESA? What facts would represent
enough risk for a lender to reject a loan without further assessment of the perceived risk, or accept the risk with a no-further-action recommendation and loan approval? In other words, where are the lines drawn?
[MORE]
In the environmental risk market, who are the market makers? In the world of real estate, the most influential
market makers are lenders. Lenders define risks that can be financed and those that must be mitigated. Lenders drive voluntary cleanups of properties and act as de facto regulators. Sixty of the nation’s most prominent environmental risk managers, bankers, and consultants recently took part in a survey designed to find out how they evaluate environmental risk associated with real estate. The survey, conducted by Partner Engineering and Science, a national engineering, environmental, and LEED consulting firm, attempted to find participants’ tolerance levels. For example, at what stage does a consultant recommend a Phase II Environmental Site Assessment (ESA) based on the findings of a Phase I ESA? What facts would represent
enough risk for a lender to reject a loan without further assessment of the perceived risk, or accept the risk with a no-further-action recommendation and loan approval? In other words, where are the lines drawn?
[MORE]