A national pension fund advisor had initiated the sale of a large retail center. The site on which the retail center was constructed had, at one time, been contaminated with dry cleaning chemicals. Although the site had been remediated to the satisfaction of the State, the potential buyer had significant concerns relating to this issue and began proposing a variety of complex and unacceptable revisions to the Purchase and Sale Agreement.

Marsh's Real Estate Practice placed a pollution liability policy naming both the seller and, as of the date of purchase, the buyer as named insureds. In the end, the buyer's extensive due diligence revealed additional minor ground contamination, and the policy was called upon to pay for the remediation. The placement of this simple policy saved a multi-million dollar sale for our client and served the intended purpose.

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