O`Reilly, Talbot & Okun Associates, Inc. (OTO)

Environmental Assessment Services

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Environmental Site Assessment (an “ESA”) is often the first step in the environmental due diligence process for a real estate holding. The need for environmental due diligence is often driven by a lender’s requirement associated with a financing arrangement. A significant environmental impairment will undercut the value of property, thereby eroding a loan’s collateral; lenders are thus well motivated to understand these potential risks. We have been conducting ESAs in Massachusetts and Connecticut for decades; this means we know where to go for important information quickly and efficiently. Usually, an ESA includes a review of available historic documentation, regulatory filings and interviews with knowledgeable people, but does not include testing of environmental samples until a Recognized Environmental Condition (“REC”) is identified, then testing is often recommended.

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