Koll Forms Joint Venture With Environmental Services Firm
- Share via
NEWPORT BEACH — Koll, the Newport Beach real estate firm, has formed a joint venture with ENSR, an environmental services firm, to clean up and sell contaminated real estate properties.
The new venture, Koll ENSR Environmental Realty Advisors, will be a one-stop shop that provides the capital and expertise for investors, financial services companies and corporations that need help in cleaning up and selling hazardous-waste sites.
“Estimates show that one in eight properties has hazardous waste in some form or fashion,” said Nicholas Patin, a managing director for Koll. “We see an opportunity here. Reporting standards that companies must adhere to on these impaired properties are much more stringent, so they want to get it taken care of. They have no choice.”
ENSR, based in Acton, Mass., has more than 30 locations worldwide. Terms of the deal were not disclosed.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
