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Forging Deals: How to Align & Generate Value

Take a still-shaky real estate market. Add some politicians, community groups and profit-seeking business owners. Top it all off with a site harboring the mysterious remnants of decades of industrial contamination. © Marshall Astor (flickr.com) It’s a recipe for brownfield deal-making that can make a greenfield real estate project look like a walk in the park. “One of the principal hurdles in a brownfield deal is that you have different interests between the stakeholders. That’s sometimes true with [other types of] deals, but they’re particularly pointed with brownfield deals,” says Todd Davis, chief executive officer of Bedford, Ohio-based Hemisphere Development, which specializes in brownfield redevelopment. “You can have past owners or operators of a property who are afraid of being sued [over contamination]. You can have regulators who want to see certain cleanup standards being achieved that may not be practical in the context of the transaction. The number of…Log In to Read Full Article

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