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underground storage tanks

Guiding Property Managers through Environmental Issues

Guiding Property Managers through Environmental Issues Property Managers are an indispensable part of the real estate industry.  They are the “eye on” people dealing with everything from tenant relations to trash disposal, and are the early warning in keeping the property in good order. Today, they are usually third party entities who contract with the owner or asset manager. In the late ‘80s and ... Read More »

Summary of the SBA’s SOP Environmental Policy Revisions in SBA SOP 50 10 5 (C)

The SBA published their latest update their environmental policy in SOP 50 10 5 (C).    The SOP revisions take effect on October 1st, 2010 we should all bone up on a few of the new elements of SOP 5010 5 (C) (pages 199 – 206 & 310 – 317). One now technical, but important point, is that the Reliance Letter has had a revision and the Reliance Letter from SOP 5010 5 (B) will no longer be accepted... Read More »

Real Estate Secured Lending – Gas Stations

Typically, when a lender is considering a real estate secured loan collateralized by a gas station, the environmental risk associated with the real estate can be a major factor in the lending decision. Read More »

Are Gas Stations Taboo for lenders

My previous experience with gas stations comes from a regulatory standpoint where the focus for evaluating the USTs was compliance. Currently, as an environmental professional, the evaluation of a gas station for a lender, involves more than just compliance when performing a Phase I ESA on gas station. The Energy Act of 2005 required that all USTs not inspected since 1998 to be inspected by August... Read More »

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