Forging Deals: How to Align & Generate ValueTake 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
RACER Trust’s Proving Ground Stimulates Efficiency
Judge Robert Gerber, sitting in the U.S. Bankruptcy Court for the Southern District of New York, signed an order in effect creating RACER Trust in March 2011. RACER — for Revitalizing Auto Communities Environmental Response — was handed a portfolio of more than 300 properties scattered over 89 locations in… Read more
Water, Water Everywhere?
While in the following pages I will recount a number of serious localized water shortages, I can tell you at the outset, this will not be another gloom-and-doom scenario to which you are treated daily in your local and national news sources. Now, in my 54th year of professional effort… Read more