Environment

Real Estate Due Diligence & Risk Management

With the proper environmental risk management tools, contaminated properties can provide significant opportunities for both buyers and sellers -- opportunities that we help our clients maximize.

Greenberg Glusker counsels and represents our clients in the identification, management and disposition of risks and liabilities arising from actual or suspected environmental contamination or other environmental liabilities. We often are called on to serve as the environmental risk management “quarterback.”  In this capacity, we advise our Firm’s real estate clients involved in the acquisition, disposition, financing or management of property and provide a rapid, cost-effective determination of the nature and extent of the real risks involved.  During the process, we work with clients to make environmental risks manageable and resolve these risks as a business issue, like any other variable in complex business transactions.

Representative Experience

  • Represented our client in the sale of a contaminated 45-acre site, formerly used for automotive manufacturing and other industrial operations, to Los Angeles Unified School District for use as a school site.
  • Addressed and managed the environmental risks for the buyer of the contaminated site of a former aluminum refinery. Included in our representation was working closely with a major insurer in manuscripting an environmental insurance policy that covered the known contamination.
  • Experienced in environmental due diligence for a NYSE company in a merger transaction involving another NYSE company, which owned or operated numerous facilities in the U.S., Canada and 49 other countries.
  • Practice background in representing a pension fund advisor in a $99 million acquisition of 10 industrial parks, each composed of 10-15 separate industrial occupancies.
  • Represented a real estate investment trust in the environmental due diligence, acquisition and leaseback of over 50 properties nationwide from a national automotive service company.
  • Practice experience in representing two major financial institutions acquiring a significant equity interest in Playa Vista, one of Southern California's largest and most controversial developments.

For more information, please contact David E. Cranston.

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