Acquisition and Redevelopment

Quite often, the best solution is for Hemisphere to acquire environmentally distressed property from an owner whose site is neglected by the traditional real estate market. Over the years, Hemisphere has acquired a number of the nation’s largest and most complex brownfield properties, definitively resolving environmental liabilities. These transactions have involved negotiating deals with many of the nation’s largest companies and most sophisticated professional advisors. Hemisphere’s principals have manuscripted and placed well over $100 million in environmental insurance coverage to support these developments. Our portfolio of redevelopment projects includes more than 1,400 acres of residential, commercial and industrial property.

Actual or perceived liabilities often create seemingly insurmountable barriers deterring the sale or redevelopment of otherwise viable real estate. Barriers include:

• Tremendous costs to property owners who want to resolve their environmental liabilities but cannot because of overwhelming legal and environmental remediation expenses.
• Complex and confusing federal and state regulatory and liability schemes that property owners have difficulty understanding.
• Lending institutions’ refusal to provide financing for acquisitions or development of properties that have a risk of environmental liabilities.
• Fear that transferring the property to a buyer not qualified and prepared to address environmental issues will result in future liability to the seller.
• Difficulties associated with accessing and productively utilizing new incentive programs targeting redevelopment.

Furthermore, as the brownfield redevelopment market has matured, few companies approach transactions with flexibility and strive to structure win-win deals for all stakeholders. Hemisphere’s proven track record of success utilizing deal structures appropriate for the circumstances makes our approach unique.