Kane Realty Portfolio
For the past 20 years, Aptus’ team has supported over $2 billion of development by Kane Realty Corp, a leading Raleigh, NC-based real estate development and management company. Our team worked closely with Kane to repurpose six former industrial sites and environmentally impaired properties, many located in and around Raleigh’s Historic Depot District and urban core. These former industrial sites, warehouses and pollution incident locations have been transformed into sustainable, award-winning mixed-use developments, student housing, new offices and homes.
British Petroleum
Aptus has supported a number of assignments conducted for BP, including work on the Deepwater Horizon oil spill. Aptus has advised the company on facility cleanup and closure provisioning for financial reporting, and on the $2.4 billion sale of the Carson, CA refinery and related logistics and marketing assets to Tesoro Corporation in June 2013.
M/I Homes
In 2013, Aptus developed the Brownfields Agreement for the redevelopment of the former Wake County School District’s bus terminal and maintenance center, helped engineer the liability transfer, escrow agreement and placed a PLL policy for M/I Homes’ $30 million townhouse development in Raleigh, NC.
NCDOT Union Station
Aptus served on the design team for the new $60 million NCDOT Union Station located in downtown Raleigh’s historic Depot District. Aptus developed and implemented an overall environmental management program for the station’s development, completed in 2018. This included a state Brownfields Agreement, technical remediation considerations and design-basis cost estimates for cleanup and mitigation.
Hometown America
Aptus conducted multiple assignments for Hometown America, a Chicago-based owner/operator of manufactured home communities – this has included a variety of cleanup and liability management assignments and advising the company on the environmental aspects of a multi-billion-dollar divestiture of 76 community real estate assets located across the United States to Equity Lifestyle Properties, a NYSE-traded company which operates as a real estate investment trust (REIT).
SunTrust Bank and South Street Partners
Aptus has played a key role in the redevelopment of an 11-acre brownfields property located along the Cape Fear River in Wilmington, NC., impacted by a massive oil spill decades ago. Aptus advised SunTrust Bank, which acquired the property, and then helped market the property. Aptus was subsequently retained by South Street Partners, which bought the site. South Street Partners is a Charlotte-based real estate investment company focused on real estate assets in the Southeast. South Street, in turn, sold the site to a Washington DC-based apartment development company that will execute on the $25 million redevelopment plan.
CAM Raleigh
Aptus served on the lead engineering, development and financial team for the redevelopment of a historic warehouse building in Raleigh’s Depot District into Raleigh’s Contemporay Art Museum (CAM), jointly owned by the City of Raleigh, NC State University’s College of Design and the non-profit Contemporary Art Foundation. Our development team and financial partners secured over a $3.5 million subsidy for the project—representing over 50% of the cost—through a combination of North Carolina Mill Rehabilitation, federal historic and New Markets tax credits. We also managed a complicated brownfields agreement and helped direct the site design, construction and redevelopment program for CAM’s permanent home, which opened in April 2011.
Cherokee Investment Partners
From 2000 until 2009, Aptus’ team were part of Cherokee Investment Services, the technical affiliate of Cherokee Investment Partners, which invested in repurposing over 500 real estate assets across the United States, Canada and Europe. Our team directed site assessments, cleanups and risk management programs supporting Cherokee’s brownfields investments. In 2009, Aptus was established when Cherokee reorganized, and continued to provide environmental services for business transactions and investments, primarily for brownfields projects.
