CREtelligent.com has added two new environmental screening tools to its suite of commercial real estate solutions. Adding to its EnviroPreScreen (EPS), an aerial map and risk rating report generated in under 30 seconds, the new tools provide additional insight into environmental points of interest found on or around a property.
The new EPS Advanced includes the aerial map and risk rating, but also provides an easy-to-interpret regulatory database report for all moderate and elevated environmental issues identified. The EPS Pro Insight includes the risk rating, maps and database report but also provides a review and recommendations from a CREtelligent Environmental Professional to set the next course of action. The EPS Suite of screening tools are a cost-effective way to get property insights early in a real estate transaction and set next step actions, for lenders, corporations, brokers and investors.
“We understand that some projects are fairly straight forward. There may be no risky past NAICS codes, or maybe the property is in a very rural location,” said Anthony Romano, CEO of CREtelligent. “However, some require a deeper form of upfront screening to set the next best course of action. We listened to our clients, and that’s why we are introducing these two additional solutions.”
Romano said the EnviroPreScreen Suite addresses a longstanding pain point in the commercial real estate industry — when a deal is disrupted or delayed because an environmental issue comes up after a loan is well into underwriting, or a site has made the shortlist of acquisitions.
“Understanding property conditions early on to set expectations and next steps helps to keep transactions on schedule, and all stakeholders happy,” said Romano.
The EPS Advanced report, generated in under 10 minutes, dives deeper by providing additional regulatory data on identified environmental points of interest. Installation and removal dates, spill/release dates, and statuses such as No Further Action, or under remediation are passed on in this report when such information is made available by the regulatory agencies that contribute to the database.
EPS Pro Insight, available in less than one business day, includes all the information included in the Advanced report, as well as a thorough review and recommendations from a qualified Environmental Professional (EP). The EP renders an opinion of the best course of due diligence based on their interpretation of the Advance report.
The EPS Suite is available on CREtelligent’s Radius platform.
