Abandoned underground storage tanks, hazardous chemicals from dry cleaners or auto repair facilities, asbestos that must remain within a building Environmental Risk Agency frequently remedies these environmental problems for its clients. However, some property owners face highly complex environmental situations that jeopardize major real estate transactions, and Environmental Risk Agency resolves their problems as well. No matter how routine or unique your environmental risk, call us for a solution.
Portfolio of Properties
A major property developer needed environmental coverage to close an $800 million transaction. Environmental Risk Agency covered the existing properties and designed an "add-on" clause for future acquisitions -- without requiring site assessments.
Another client wanted to sell oil field and refinery property -- valued at one-half billion dollars -- to a group of major wall-street investment firms leery of the ultimate liability. Environmental Risk Agency designed cost guarantees for the cleanup and insurance coverage backing the sales contract indemnifications against residual contamination. Because the deal closed quickly, our client reported a saving of $25 million based on the time value of money and projected legal expenses.
Closure of Manufacturing Plant
A "Fortune-200" equipment manufacturer needed to transfer long term environmental liability when he sold his closed facilities. Environmental Risk Agency indemnified the seller and protected the new owner against any future environmental claims. The solution worked for the client, who decommissioned and sold a number of facilities with our help.
An International buyer's purchase of a US chemical facility stalled over clean-up and long term liability issues. We provided $10 million, ten-year coverage for clean-up and third-party liability for historic and on-going environmental problems. This deal would not have closed without Environmental Risk Agency’s coverage.
Most of our clients develop real estate -- but one owns a 747 cargo aircraft with residual mercury contamination. Lease/financing negotiations stalled over this problem. Environmental Risk Agency designed a $28 million “collateral protection” coverage that would either pay for additional remediation or pay off the lease if the plane was grounded for environmental problems.