Embracing Change: Transition to ASTM E1527-21 for Enhanced Environmental Due Diligence

As we reach a significant regulatory milestone this February 13, 2024, the era of ASTM E1527-13 for Phase I Environmental Site Assessments (ESAs) in commercial real estate concludes. This change signifies a crucial shift towards enhanced environmental diligence and risk management.

Why the Update Matters

The U.S. Environmental Protection Agency’s (EPA) adoption of ASTM E1527-21 on February 13, 2023, modernizes the Phase I ESA process. Adherence to this updated standard is essential for qualifying for liability protections under CERCLA, including the innocent landowner defense, safeguarding stakeholders from liability for unforeseen environmental contamination.

LCS: Your Partner in Compliance

LCS has proactively adopted ASTM E1527-21, ensuring our Phase I ESAs are at the forefront of industry standards. Our expertise positions us to guide you seamlessly through this transition, maintaining compliance and safeguarding your transactions.

The Importance of Transitioning

Transitioning to ASTM E1527-21 is critical not just for compliance, but for the integrity of your property investments. This update offers a more thorough approach to environmental assessments, enabling better-informed decisions.

How We Support You

Our team is ready to support your transition to ASTM E1527-21, providing comprehensive, accurate, and timely assessments. We understand the importance of adapting to evolving standards and are committed to facilitating smooth and compliant real estate transactions.

In Summary

The shift to ASTM E1527-21 marks an important step in environmental due diligence. LCS is here to ensure your real estate endeavors are both compliant and protected against environmental risks. Let’s navigate these changes together, reinforcing our commitment to responsible property investment.

And as always….

LCS listens to your needs to develop products that are right for your lending transaction. Whether that be an individual appraisal, environmental or construction report, or a combination of services; LCS will meet your needs in the most efficient, effective way possible.

To learn more, reach out to Liz Mahoney, Director of Sales & Business Development today.