GreenPark launches new investment fund.

GreenPark Group, a real estate company and land developer specializing in environmentally-impacted properties, announces the launch of GreenPark Fund II, a $200 million investment fund which will finance the acquisition, remediation, redevelopment and return to productive service of brownfield sites across the United States. Larry B. Faigin, president and CEO of GreenPark Group, made the announcement.

"The success of GreenPark Fund I, which financed the acquisition and remediation of several environmentally impacted properties in the western United States, has prompted this latest offering," said Mr. Faigin, who founded GreenPark in 1997 in Seal Beach, CA. "Our first fund performed well above the industry average, with an anticipated IRR of more than 30 percent, and confirms our belief that successful brownfields development can be a safe, profitable investment when combined with the expertise of sound real estate professionals backed by institutional controls and capital."

GreenPark is a long-term owner and value-added land developer that has completed and sold a number of projects to date.

Backed by Warburg Pincus, a multi-billion dollar venture capital firm, GreenPark Fund I acquired more than $100 million in assets, primarily in the western United States, and is now seeking further institutional investment in Fund IL Warburg Pincus has committed $20 million to Fund II.

GreenPark has a proven track record in acquiring environmentally-impacted properties, protecting sellers from environmental liability, working with regulators and local communities to achieve successful solutions, remediating properties and then returning them to productive use. GreenPark has a professional staff of 20 with an average of 20 years of real estate experience, and the financial strength to evaluate, acquire, remediate and fund the development process.

Because of its expertise in all phases and categories of real estate, GreenPark can effectively align the many economic, environmental and community interests in the process, simultaneously working with local political jurisdictions to obtain the most favorable land use designations to maximize value.

According to industry estimates, there are approximately 400,000 to 600,000 undeveloped brownfield sites across the United States, comprising over 5 million acres of land -- more than the 60 largest US cities combined. Moreover, the majority of this property is in infill locations, surrounded by existing infrastructure and utilities, making redevelopment of this environmentally impacted property a viable and economically attractive alternative to further urban sprawl.