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In this month's episode, our host Alan Agadoni, SVP Environmental Due Diligence solutions at LightBox, and a panel of experts discuss results from LightBox's 2024 PFAS Due Diligence Benchmark Survey. On our panel is Georgie Nugent, Environmental Division Director at McFarland Johnson, Jon Kitchen, who is a Principal at Civil & Environmental Consultants, Inc., and Victor DeTroy, National Practice Leader, Due Diligence Services, AEI Consultants. They discuss trends in the data and whether the industry has reached a consensus on how to conduct and interpret the results of PFAS due diligence for commercial real estate transactions.

0:38 Panel & episode intro

4:30 Are you following ASTM-21, and if so, what are you doing differently?

7:15 When is it appropriate to include a dedicated PFAS section in EPs' reports?

11:25 Are consultants seeing pricing accommodations or any pricing changes made for additional time spent including additional sections?

14:20 What is your clients' level of interest in assessing PFAS risk?

20:00 Do you always include PFAS in the scope of your ESAs?

21:40 If you include PFAS in your Phase I ESA, what types do you include in your consideration? Does the type depend on the report?

27:40 ESA risk reporting: how do you label known or suspected PFAS conditions in your reports?

31:10 What would you estimate as the approximate percentage of your Phase IIs to investigate PFAS risk?

34:35 Do you consider an industrial property listed by EPA as a facility that may have handled PFAS, based on industry code only, to be a recognized environmental condition?

38:55 Are PFAS conditions impacting CRE deals that environmental professionals are involved with? In what ways?

42:45 How far are we on the road to consensus on PFAS due diligence?