Portfolio Due Diligence: 200 Sites in 10 Days

Jan 5, 2024

ABOUT THE PROJECT

EBI was engaged by one of its long-term real estate financing clients, referred to as The Client, before acquiring a commercial real estate portfolio loan. The Client sought risk mitigation services to gain a comprehensive understanding of the value and conditions of the commercial real estate backing the loan, comprising over 200 sites across the country. 

THE PROJECT IN NUMBERS

EBI’s Portfolio Team devised a custom approach to complete assessments for the entire portfolio within ten business days, prioritizing an expedited timeline.

Sites assessed

Business days to complete

States containing portfolio sites

CHALLENGES

The Client was provided with vague site information, such as incomplete addresses and a lack of parcel numbers, which are required for a thorough understanding of each site for compliance and risk assessment. Additionally, balancing an expedited timeline with comprehensive assessments and delivery of our findings & reports across the nationwide portfolio was critical.  

SOLUTION

EBI’s Real Estate Portfolio Team tailored an expedited yet meticulous plan considering The Client’s acquisition timeline objectives and the nationwide portfolio locations. After understanding the full scope of the client’s needs, we first identified a handful of sites with defaulted loans that would require environmental site assessments to get the loans back on track. Additionally, we recommended environmental desktop reviews across the entire portfolio, while following up with Phase I environmental site assessments (ESAs) on sites that triggered further investigation, in addition to the ESAs on the loans that were in default. 

OUTCOME

Through collaboration with The Client and leveraging our extensive resources, EBI verified site details and kicked off the desktop reviews across the portfolio. With experts across the U.S., EBI had assessors ready to complete follow-up ESAs where necessary. This approach minimized unnecessary costs while providing The Client with detailed property assessments and a consolidated summary matrix for easy understanding. EBI was able to furnish the client with the necessary information and deliver more than 200 comprehensive reports to The Client within just 10 business days, providing the confidence they were looking for to proceed with their acquisition of these properties. 

SERVICES EBI PROVIDED

  • Phase I Environmental Site Assessments
  • Desktop Reviews
  • Third Party Peer Reviews

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