The description below says there are between 30,000 and 100,000 brownfield sites in Canada. That reminds me of one estimate I”ve heard for the U.S., which is between 400,000 and 2,000,000 sites; I’m always blown away to realize just how much we don”t know about the inventory of contaminated land.

I like the way the Kilmer describes brownfields as land where redevelopment is complicated by REAL OR PERCEIVED environmental contamination. Isn”t it true that a negative perception can hurt almost as much as a real problem?

KILMER BROWNFIELD EQUITY FUND

Kilmer Brownfield Equity Fund is a private equity investment fund run by experienced environmental and financial specialists dedicated to creating value for investors through the clean-up and reactivation of environmentally-impaired “Brownfield” properties in Canada.

Brownfields

Brownfields are abandoned, idled, or underused industrial and commercial facilities where expansion or redevelopment is complicated by real or perceived environmental contamination. It is estimated that there are between 30,000 and 100,000 brownfield sites in Canada.

Brownfields are one of the by-products of a century of industrialization in Canada and can be found in every major industrialized city. Often there are complex stakeholder issues associated with brownfields. As a result, many sites have sat idle and neglected for many years. The net outcome is that brownfields represent a social, environmental and economic liability for those communities in which they are found.

Promoting the clean-up of brownfields has become a focus of all three levels of government in Canada. The redevelopment of brownfields has become an important component of sustainable development in Canada.

Kilmer Brownfield Equity Fund (KBEF)

Kilmer Brownfield Equity Fund is the first private equity fund in Canada dedicated solely to the redevelopment of brownfields in Canada. The anticipated size of KBEF is $100 million. Investors in the Fund, which is set up as a limited partnership, are institutional investors, such as pension funds and private investors.

The Fund’s capital will be used to acquire and redevelop qualifying brownfield sites. The brownfield redevelopment process consists of the remediation or clean-up of the site and often the rezoning of the site to a higher and better use. Once the site is redeveloped, the Fund will sell it to an end-user, who will complete the revitalization by building out the site. The Fund will target investments in the $5 million to $15 million range.

The Fund is managed by a team of experienced brownfield and financial specialists. The Fund’’s management includes leaders in the Canadian brownfields industry. The collaboration of the different specialty areas represented by the Fund’’s management, which include environmental risk management, brownfield redevelopment and real estate and investment finance, is a critical component of the Fund’’s strategy to unlock value in brownfield redevelopment projects.

Visit Kilmer Web Site Here

This entry was posted on Saturday, June 23rd, 2007 at 6:58 pm and is filed under ●Brownfields - Miscellaneous.

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