corporate problem solvers for environmentally impaired property

Corporate Problem Solvers For Environmentally Impaired Property

North American Realty Advisory Services, L.P.

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Questions & AnswersNorth American Realty Advisory Services, L.P. assists corporations to seize opportunities and solve problems associated with surplus or environmentally impaired land and building assets.

We provide objective, professional advice on divesting distressed real estate for optimum financial return to our clients, while lowering cleanup costs, reducing environmental risks, managing community issues and improving corporate brand image.

Since 1963, more than 1,500 assignments have been completed worldwide.

North American Realty Advisory Services, L.P.317 Madison Avenue, Suite 1620

New York, New York 10017Tel: 212-883-0500Fax: 212-883-0520

Email: [email protected]

©Copyright 2004 North American Realty Advisory Services, L.P.

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North American Realty Advisory Services, L.P.Home | Serv ices | In -House Sk i l l s | Cur ren t /Pas t Pro jec ts | Q & A | Events /Pub l i ca t ions | Contac t Us

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Consultation/Implementation Services

Nor th Amer ican takes anent repreneur ia l perspec t i vein a lmost every p ro jec t i tunder takes .

For each c l ien t p roper ty, weask ourse lves , " I f we ownedth is asse t , what wou ld we doto make i t p roduc t i ve andpro f i tab le . "

● Strategic Action Programs for surplus and environmentally-impaired land& building assets, including Brownfield & Superfund sites.

These programs address:

— Environmental cleanup cost reduction— Controlling future liabilities and stigma issues— Regulatory management issues— Community concerns— Maximizing financial returns— Real estate project financing— Economic development— Deal strategy & structuring

● Best Practices Management ProgramTM

For corporations with a portfolio of properties, the BPMP offers the latest tools & state-of-the-art techniques to review assets, target near and long-term opportunities and implement steps to achieve corporate objectives.

● Closing Facilities Gracefully Program

Faced with the prospect of a facility closing, corporations receive guidance on the creation/implementation of site revitalization programs benefiting them and the affected community.


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In-House Skills

Market ResearchArchitectural Planning

Construction EconomicsLand Planning

Financial AnalysisFinancial Packaging

FinancingGovernmental &

Community RelationsZoning

MarketingImplementation

North American Realty provide its clients with a staff of experienced professionals — in all the needed disciplines — to assist in making informed decisions about surplus or distressed real estate.

As your in-house team, we work with senior management — including your legal and environmental specialists — in creating and implementing reuse programs, coordinated with site cleanup programs.

From initial research & planning, through transaction structuring and closure, our staff works closely with you to achieve targeted objectives.

Principal members of North American Realty have more than 20 years of experience in their specialties.




Fitchburg, MA Directed reuse planning and donation of a 300,000 sq. ft. former GE turbine facility. Achieved funding for revitalization efforts. Now being marketed as Putnam Place Business & Industrial Center.

E. Providence, RIDefined "reuse vision" for almost a dozen waterfront properties, including former refinery and industrial sites. Implementation underway for the creation of Bold Point Harbor, a 110-acre waterfront community featuring office, R&D, retail, recreational & residential components.

Bayonne, NJ Created and implementing reuse plan and divestment strategy for a 64-acre former tank farm site, overlooking Newark Bay. Negotiations now underway for the $100 million waterfront center including retail, residential, office and recreational uses.

Nederland, TXDefining redevelopment potential of 100 acres of impaired land.

Richmond, CADefined reuse opportunity and divestment strategy for a 350,000-sq. ft. research center on 86 acres located on the San Francisco Bay. Assisting the client to coordinate leasing of the existing buildings, bringing about environmental closure, and a phased sale of the property.

Selected Current Projects

New EnglandConducting a portfolio review of 60 utility properties acquired through an acquisition. Providing decision-making tools to target and prioritize sites for optimum reuse and divestment.

Hometown, PAAssisting PRP in redevelopment planning of a 25-acre Superfund site, including lowering remediation costs and addressing community issues.

Dighton, MATargeted specialized reuse of 68-acre chemicalmanufacturing facility and existing equipment forcreation of a fish farm. Assisted client to structure andclose a transaction with a user.

Selected Past Projects

Erie, PACreated and implemented an adaptive-reuse program for a surplus 11-acre coal-fired generating station, as a mixed-use waterfront center. Bayfront Landing now attracts about 4,000 visitors per day, bringing new life to the downtown area.

Washington, DCIdentified real estate opportunity associated with an environmentally-impaired utility site. Structured a transaction with a developer for creation of a $100 million, mixed-use waterfront center.

Racine, WIIdentified reuse potential for a former 11-acre coal gasification plant, while also controlling remediation costs and risks. As a result, Gaslight Pointe was created including a hotel, residential center and waterfront promenade.

Columbus, OHCreated program to transform a closed, former military base into an intermodal industrial park — considered one of the most successful business parks in the Midwest. 7,000 jobs have been generated.




Answers

Does North American Realty buy property?

Does North American implement its recommendations?

What can environmental insurance do for my company?

How can we promote economic redevelopment of our impaired properties and still control risk?

I have a portfolio of surplus, environmentally-impaired properties. Where do I begin?

Does North American have experience with properties no longer owned by the corporation, but where the former corporate owner is the "deep pocket" PRP?

My corporation is publicity adverse, concerned about litigation and unsure of what to do about its surplus, environmentally-impaired properties. What do you suggest?

No. Buying client properties, based on our "insider's knowledge" would be a conflict of interest. We bring an objective and unbiased approach to client projects.

We create and implement business solutions on nearly 100% of the projects we analyze. Our staff has the skills and experience to implement the agreed-upon action programs, often in conjunction with our client's legal and environmental specialists.

Some have suggested that environmental insurance is the answer to mitigate corporate liability concerns. Insurance can provide real benefits, but not as a stand-alone product. Based on our experience, environmental insurance is effective when included as part of an overall risk management strategy.

There is no way to eliminate 100% of the potential environmental risk. However, by managing the legal, environmental, and real estate elements of a project, risk can be reduced to an acceptable level in line with other everyday business liabilities.

Through North American's Best Practices Management ProgramTM, we assist clients to evaluate portfolios, uncover opportunities and create, as well as implement, programs to dispose of properties.

Yes. We are implementing programs successfully for a number of corporate clients who are PRPs on Superfund sites.

For this reason, North American provides its services to a number of clients on a confidential basis.


Questions



Principal members of North American Realty are featured speakers at leading industry conferences throughout the U.S., and more recently, in Europe. In 2002, North American Realty was represented at more than two-dozen conferences focusing on the revitalization of environmentally impaired real estate. A similar conference schedule is underway for the year 2003.

These professional conferences and seminars offer CFOs, CEOs, COOs, asset and environmental managers, attorneys, engineers and economic development representatives ample opportunities to learn the latest strategies to divest problem land and building assets. For information about upcoming events, contact [email protected].

Conferences

North American Realty offers published information on environmentally-impaired property divestment programs. To receive copies of the latest information, contact [email protected].


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Contact Us

Robert W. [email protected]

Kathleen Connolly MankowichVice President, [email protected]

North American Realty Advisory Services, L.P.317 Madison Avenue, Suite 1620New York, New York 10017(212) 883-0500Fax (212) 883-0520E-mail: [email protected]

Visit us in New York City. We are conveniently located in midtown Manhattan, just steps away from Grand Central Terminal.





corporate problem solvers for environmentally impaired property

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