CMBS

Major CMBS Lender Requiring EPs to Perform Site Inspections

Corporate and Real Estate Transactions, Environmental Due Diligence, Lender Liability /

We have previously discussed discussed here and in other forums how the All Appropriate Inquiries (AAI) Rule issued by EPA in 2005 is deeply flawed and has directly contributed to a worsening in the quality of phase 1 reports. This is ironic outcome since the reason EPA was instructed in the  2002 amendments to CERCLA  to issue […]

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CMBS Special Servicer May Not Recover VI Test Costs Under Environmental Indemnity

Corporate and Real Estate Transactions, Environmental Due Diligence, Lender Liability, vapor intrusion /

Earlier this year, we discussed   the federal district ruling in Orix Capital Markets, LLC v Cadlerocks Centennial Drive, LLC, 2013 U.S. Dist. LEXIS 48424 (D. Mass. 4/2/13) where a special servicer was allowed to pursue a guarantor despite the presence of an environmental insurance policy and was awarded over $100K in environmental investigation costs. This

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