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PFAS: The Other Billion-Dollar Cloud Hanging Over Commercial Real Estate in 2024


MMM's Wyatt Kendall and Brian Remler discussed how the commercial real estate industry can prepare for transactions involving properties potentially affected by PFAS with Westlaw Today.

Much has been written about the continued challenges facing the commercial real estate industry at the start of 2024, including high interest rates, imminent debt maturities, and ballooning insurance costs.

But there is another issue looming just as large over the industry this year — the proposed designation of certain per- and polyfluoroalkyl substances, or "PFAS," as hazardous substances under the federal Superfund law, the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). When this designation occurs, it will touch nearly every commercial estate transaction and wreak havoc on many.

Read the full article here