SACRAMENTO, Calif. DENVER, Jun 25, 2012 (BUSINESS WIRE) –
EnviroFinance
Group, LLC (EFG) announces that Frank Lorincz has joined the firm as
its new Executive Director of Corporate Development to enhance and
expand EFG’s presence in California and nationally. Mr. Lorincz has over
34 years of experience in consulting engineering and environmental
management, including the reuse and redevelopment of impaired property.
As the former Chief Executive Officer of a national environmental
consulting practice, Mr. Lorincz was responsible for the overall vision
and strategic direction of the firm. Mr. Lorincz has worked extensively
within a broad area of the real estate market to develop, negotiate and
implement innovative real property transfer programs which effectively
manage long-term environmental liability while creating asset value.
According to Ed Elanjian, CEO of EFG, “Mr. Lorincz’s technical and
management experience will add significant value in defining appropriate
deal flow as well as contractual and legal structures for addressing
liabilities as we expand our property interests to capitalize on urban
in-fill redevelopment opportunities.”
Mr. Lorincz is a recognized industry leader with extensive expertise and
experience in the highly specialized environmental liability assumption
market, including distressed property asset management, financial
institution bankruptcy reacquisition, brownfield redevelopment,
commercial/industrial asset disposition, and potential real asset
disposition opportunities. As Mr. Lorincz indicates, “the industry is
looking for a better solution on how to effectively manage and create
value in the impaired property redevelopment market. The overall
industry track record in this space has not been the best.” Under its
innovative business model, Mr. Lorincz says, “EFG will be better
positioned to manage and create value by taking 100% control of the
investment asset. The key differentiator in the EFG model is the direct
alignment of the investment dollars with the management obligations for
cleanup and entitlement. This is a paradigm shift for the industry.”
The addition of Mr. Lorincz continues EFG’s commitment to build
best-in-class environmental, risk management and land reuse experience
to fill the void in brownfield development. It is also strategically
timed to coincide with continued improvement in the commercial real
estate market. Mr. Lorincz will be based in the San Francisco Bay area
About EFG:
EFG, with offices in Sacramento, California, Denver, Colorado, and New
York, New York invests in and manages environmentally sustainable
projects, including brownfields redevelopment, renewable energy and
wetlands mitigation throughout the United States.
The company uses its capital and specialized expertise in environmental
remediation, real estate acquisition and development, risk management
and finance to successfully complete complex redevelopment projects.
EFG, through its EFG Brownfield Partners division, has been providing
environmental remediation and development services at the former ASARCO
Globe plant in Denver, Colorado and has provided brownfield advisory
services to Motors Liquidation Company as well as for Dahlia Square in
northeast Denver.
SOURCE: EnviroFinance Group, LLC
EnviroFinance Group, LLC:
Jill Kroese, 303-996-0846
jkroese@efg-bp.com
www.envirofinancegroup.com or
Frank Lorincz, 510-599-2570
florincz@efg-bp.com
www.envirofinancegroup.com
Copyright Business Wire 2012
Article source: http://www.marketwatch.com/story/frank-lorincz-joins-envirofinance-group-llc-to-expand-investment-in-distressed-asset-redevelopment-2012-06-25
