Miami – Cohen Financial, a national real estate capital services firm, today announced that it has secured a revolving $50 million equity investment for a company engaged in the reclamation of metals contained in coal-fired power plants and their adaptive re-use for real estate development located in various cities across the country.
Kevin O’Grady, Senior Managing Director of Cohen Financial and head of the company’s equity practice, and his team secured the equity investment. The investor is a multi-billion dollar investment platform, which includes commercial real estate. Cohen Financial’s client is The National Reclamation Group, LLC (NRG), a deconstruction and remediation firm focusing on coal-fired power plants. The transaction closed in September 2013.
“There has been a strong effort through three administrations to close these plants, as well as the concerted efforts of the various agencies to regulate them out of business,” said Mr. O’Grady. “NRG is a full service company that possess the expertise necessary to harvest the metals from the buildings at a profit, environmentally remediate the sites and prepare them for adaptive re-use. All of these sites are located on waterways. Some have very significant positions in large urban cores within the United States. NRG has the real estate expertise to evaluate the sites as well and to determine the viability of future development. We are very excited about the growth of this platform. Additionally, our investor is a fabulous company with shared vision for the opportunities this platform presents to them.”
Cohen Financial’s equity practice advises and arranges joint venture debt and equity or securities financing for its clients operation platforms, as well as for single asset transactions through its relationships with family offices, private equity/opportunity firms and institutional capital investors independently or together with its affiliate Artis Advisors, LLC. Cohen Financial’s equity practice has offices in Chicago, Irvine, Los Angeles, Miami, New York and Washington D.C.
All equity securities are placed through Cohen Financial Equities, LLC, a member of The Financial Industry Regulatory Authority (FINRA). For additional information, contact Kevin O’Grady directly at 866-315-6501 or [email protected].
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, loan administration and advisory services. The company was named top originator for specialty finance in the MBA 2012 Commercial Real Estate/Multifamily Finance Firms--Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation's leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Solutions to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.
About National Reclamation Group
NRG is a deconstruction manager that focuses specifically on the burgeoning niche of deconstructing coal-fired power plants. Over the next five years, it is expected that up to 100 gigawatts of coal generated power will be retiring. Since these assets will then be recognized as liabilities on the power companies’ balance sheets, NRG has identified a unique and transparent solution to deconstruct and ultimately redevelop the sites.