Sovereign Partners with RE Invest Solutions to Expand into Brownfield Redevelopment Market
Sovereign Consulting Inc., an award winning environmental remediation firm headquartered in Robbinsville, NJ, announced a partnership with RE Invest Solutions LLC (RE Invest), a Delaware-based Brownfield investment company. Sovereign and RE Invest together offer real estate developers, corporations and municipalities creative solutions to finance, remediate and redevelop distressed and underutilized industrial properties.
RE Invest, in partnership with real estate developers, finances environmental remediation projects in exchange for an equity position in the redevelopment project. RE Invest invests in “Brownfield” properties throughout the United States helping corporations and municipalities monetize their surplus fixed assets and transfer environmental liability. Sovereign provides the technical resources and manpower needed to execute the site remediation to regulatory closure. The Sovereign - RE Invest partnership combines Sovereign’s technical expertise with RE Invest’s expertise in industrial real estate repositioning and financial management to provide developers an alternative to the “pay as you go” approach to environmental investigation, remediation and risk management.
“Sovereign and RE Invest’s unique partnership will allow our companies to provide a single source with the technical, managerial, and financial capability to redevelop and reposition distressed real estate, at minimal cost and risk to investors. We welcome the opportunities that the Sovereign-RE Invest partnership gives us to bring environmentally impaired real estate back to the market and local community,” stated Ravi Gupta, President of Sovereign.
RE Invest is led by Mr. Thomas Lobasso, who has more than 30 years of experience in the environmental consulting and engineering field, with expertise in evaluating and executing “Brownfield” redevelopment projects in urban locales. He was a co-founder and President of a national site remediation and risk transfer firm that specializes in positioning environmentally-impaired properties for transfer and financing. Mr. Lobasso’s efforts have helped facilitate property transactions and development valued at over $1B throughout the United States, including two award-winning public and privately funded “Brownfield” redevelopment projects in New England.