Denver, CO (PRWEB) April 20, 2006
Brownfields Capital, a specialty lender and investment management firm with a patented process and financial instrument for financing the remediation and redevelopment of brownfield properties, today announced the appointment of Wall Street veteran James M. Harasimowicz as President and Chief Operating Officer. He joins Brownfields Capital as the company also announces the close of its first large scale project and prepares for rapid expansion.
With more than 20 years of capital raising and merger and acquisition advisory experience, Mr. Harasimowicz joins Brownfields Capital from Merrill Lynch where he served as Co-Head of the Depository Institutions Group. Throughout his years of experience at Merrill Lynch, Salomon Brothers and Keefe, Bruyette & Woods, Inc., Mr. Harasimowicz has negotiated several major bank mergers and acquisitions, structured and syndicated highly leveraged acquisition financings, developed several leading edge capital instruments for financial institutions and supported the creation of several start-up banking, specialty finance and real estate companies.
“Brownfields Capital has created a financial process and instrument that for the first time enables large-scale investment in brownfields with limited risks. As a result, we believe the brownfield market will move from a niche market into an industry,” said Cheryl Hoffman, Founder and CEO of Brownfields Capital. “Jim, with his vast Wall Street experience and knowledge, will serve as a driving force in accelerating Brownfields Capital’s business and will advance the virtually untapped brownfields industry that is ripe for expansion.”
The pool of brownfields properties is estimated to be between $520 billion and nearly $2 trillion. Brownfields Capital has a patented process and a financial instrument, the Brownfield Value Contract (BVC), which insulates institutional investors from the reach of environmental law and simultaneously provides owners or prospective owners of environmentally challenged land with a fully financed capital structure and business plan. Brownfields Capital clients include corporations and financial institutions that wish to reduce the environmental liabilities associated with owned or acquired properties; developers and builders that wish to unlock the value of remediated land; and investors who see attractive low risk returns from the development of urban in-fill properties in prime locations throughout the world.
“The real estate financing industry has not seen an innovation like the BVC since the Commercial Mortgage Backed Security,” said Mr. Harasimowicz. “When you consider the magnitude of the brownfield market, combined with an instrument that can attract large scale investment, the opportunity is immense.”
Mr. Harasimowicz graduated from Middlebury College and received a B.A. in Economics and a minor in Architectural History.
About Brownfields Capital
Brownfields Capital is a specialty finance/investment management firm. It holds an exclusive patent license for its unique business process and financial instrument (Brownfields Value Contract or “BVC”), which finances remediation, development and re-development of brownfields in prime locations across the country. Brownfields Capital is a financial intermediary that aggregates investment capital, underwrites the ownership entity (borrower) and project, and provides project financing. For more information, visit http://www.brownfieldscapital.com.