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Environmental Risk and the Buyer-Seller “GAP”

Over the last three years, brownfield transactions have, in many cases, evolved toward more-traditional real estate deals. Except at the worst contaminated sites (particularly CERCLA NPL sites and certain RCRA-regulated facilities), environmental risks are increasingly being treated as a “cost of doing business” rather than as deal breakers.To be certain, environmental risks associated with transacting in surplus industrial properties are far from the only issues that create a gap between buyers and sellers in terms of sales price, contract terms, timing, and other factors. A major corporation’s book value for the property, differences in real estate appraisals, differing views of market conditions, political hurdles and community pressures are only a few reasons why buyers and sellers often can’t come to terms. However, the uncertainties of environmental risk, and the effect they have on both parties, remains a key factor in the buyer-seller gap in brownfield deals. When environmental uncertainties create…Log In to Read Full Article

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