Viridian structures transactions that permit our corporate sellers to capture the market value of Brownfield properties by returning them to productive reuse, while releasing balance sheet liabilities for their remedial obligations.
Viridian has engineered a repositioning process for our sellers that includes:
Prior to acquisition, Viridian engineers a state-of-the-art environmental risk management and liability transfer template that assures multiple layers of protection. Viridian assumes the remedial obligation of the responsible parties through a remediation agreement with the lead environmental agency.
Environmental insurance is procured to the benefit of all parties, with policies bound at closing and the premiums paid in full. Insurance deductible exposure mandated by each policy, as well as long-term stewardship obligations, are capitalized in the project budget.
Clean-up and infrastructure contractors are required to guaranty the achievement of critical performance milestones such as obtaining a “no further action” status for the site.
Finally, our indemnification to Seller is backed by financial assurance tailored to the needs of each property. Corporate sellers need a high level of confidence that any transferred environmental risk does not come back to them. Likewise, Viridian believes that it is important not to pass along continuing environmental obligations to our buyers at the time of sale.