The general rule is an Opportunity Zone should not be the deciding factor for a transaction, but it can still have the potential to make a good deal better. For investors seeking Qualified Opportunity Zone investments to help defer taxable gains, December 31, 2021 is an important deadline. This is the last date for investors to qualify for a five-year hold and a ten percent step-up in the basis of their initial investment. The last deadline was December 31, 2019, which would have allowed investors to qualify for a seven-year hold and a fifteen percent step up in basis. The industry standard for reporting environmental due diligence is the ASTM E1527 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment Process. The current version of this standard, E1527-13, is scheduled to sunset on December 31, 2021. Once a new standard is adopted it may be important for property owners to understand how their property may be viewed differently since they last conducted environmental due diligence. Environmental, social and corporate governance (ESG) initiatives are continuing to gain momentum and influence amongst commercial real estate stakeholders. Whether it be a developer responding to a request for proposal, an equity fund looking to maximize the value of their portfolio or an investor seeking to raise capital, understanding the challenges and opportunities related to ESG will become ever more important.