Author: Stephen E. Roulac

Start Page: 139
End Page: 148
Volume: 8
Issue Number: 1
Year: 1993
Publication: Journal of Real Estate Research

Abstract: Environmental due diligence, now a necessary precondition to a real estate transaction, has been raised to a higher priority by the so-called Superfund legislation. Although passed a decade ago, only in the last several years have this law's implications and their significance for real estate transactions been recognized. The reality of environmental liability combined with substantially constrained capital availability for new development projects will introduce new standards of development assessment and sere to constrain the pace of development activity in the 1990s. The awareness of developers and advisors, representing institutional investors, of environmental due diligence requirements and how information generated in the due diligence process is employed in property acquisition decisions is the subject of this article.