OCC Handbook/ Commercial Real Estate Booklet

September 10, 2013

The Office of the Comptroller of the Currency (“OCC”) oversees a system of national banks and federal savings associations involved in Commercial Real Estate and Construction Lending, assuring that these institutions are safe, sound, competitive, and capable of providing for the banking needs of customers as best as possible.

The OCC issues a handbook, which according to the OCC Handbook itself,” The Office of the Comptroller of the Currency’s (OCC) Comptroller’s Handbook booklet, “Commercial Real Estate Lending,” provides guidance for bank examiners and bankers on commercial real estate (CRE) lending activities.”

It specifically cites risk, “The booklet addresses the risks inherent in CRE lending as well as risks unique to specific lending activities and property types. Also discussed are supervisory expectations and regulatory requirements for prudent risk management. “

The Comptroller’s Handbook was updated in August of 2013. For further information regarding the  updates, visit

http://www.partneresi.com/resources/occ-handbook-commercial-real-estate-booklet.php


Environmental Due Diligence in Utah

April 16, 2013

The Partner Utah office provides Phase I Environmental Site Assessments, Phase II Environmental testing, Property Condition Assessments, and Asbestos Surveys in support of commercial real estate transactions, taking into consideration Utah’s diverse geology, climate, and topography.

Partner often customizes Phase I Environmental Site Assessment reports to meet individual client or agency lender’s (Fannie MaeFreddie Mac) requirements.

In addition to providing Phase I ESAs, Partner provides Property Condition Assessments and Commercial Building Inspections for a wide variety of clients, including CMBS lenders, Fannie Mae/Freddie Mac lenders, and equity clients. Most of our reports are performed to meet the standards set within ASTM E2018-08 guidelines.

Partner performs Phase II Environmental Testing either in support of a financing decision or to meet the requirements of the Utah Environmental Protection Agency (UEPA). Most of our reports are performed to meet the standards set by ASTM E1903-27(2002).

Utah’s Department of Environmental Quality requires that any consultant that provides advice or makes conclusions regarding underground storage tanks for a fee to have a Certified UST Consultant License. Soil and groundwater samples collected at underground storage tanks should be collected by a certified Soil and Groundwater Sampler otherwise, the DEQ will not accept the results. This can be important if the results are ever needed to try to gain site closure.

Partner has completed engineering assessments on all types of commercial real estate including office, retail, multi-family, industrial, and hospitality. Some recent Utah projects and experience include:

Partner completed Phase I Environmental Site Assessments, Phase II Environmental Testing for four national chain auto repair facilities in Vernal, UT.

Partner’s Construction Risk Management team completed Document & Cost Reviews and regular Construction Progress Monitoring for 6 sites in Utah including offices and a big box retailer.

 

For more information on Partner’s practice in Utah, visit http://www.partneresi.com/city/salt-lake-city.php


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