Founded in 2003 as a Brownfield development company, Viridian established the following five fundamentals as guiding principles:
Viridian has refined Brownfield redevelopment through a unique integration of land repositioning and remediation. Orchestrated by an exceptionally experienced team of professionals, Viridian’s approach starts with the acquisition of distressed properties in highly constrained urban markets followed by simultaneous remediation, repositioning and risk management of the transaction.
Viridian has acquired several high profile properties in the New Jersey Turnpike Industrial Corridor, and is now considered the largest Brownfield Developer in the State. Its Burlington project was recognized by the National Association of Industrial and Office Properties as the 2009 New Jersey Deal of the Year. Viridian has established productive and respected relationships with New Jersey municipalities, environmental organizations, government authorities and the local business communities.
Central to Viridian’s success is its ability to provide well collateralized environmental indemnifications to its Sellers providing assurance of remediation performance and long-term stewardship. Environmental Liability and Remediation Cost Cap Insurance is acquired, escrows established in trust for insurance deductibles and projected long term stewardship cost, and Sellers routinely named as additional insured. The combined security of Viridian’s risk transfer template has allowed its Sellers to recapture substantial balance sheet environmental reserves.
Viridian competes with both traditional developers and Brownfield developers, environmental assumption liability entities, and engineering and environmental consultants. Unlike most of these entities, Viridian does not seek an indemnification from the Seller. Our focus is always on the real estate and its redevelopment potential, and we are not interested in building a backlog of remediation service and construction work.
We are real estate principals with a developer mindset. We provide robust environmental indemnification to our Sellers backed by financial guarantees supporting our performance. We strive to achieve solutions that work for all parties involved.
Contact Viridian today to discuss your Initial Site Screening.