EFG’s history dates to 2001 when the Company’s predecessor began making secured loans to fund the acquisition, remediation and redevelopment of Brownfields in California. In 2006, the Company’s predecessor formed EFG to expand its lending business nationwide. The Company was repositioned from lender to developer in 2011 to benefit from new commercial real estate opportunities created by the 2007 – 2010 recession.
The firm has been unique in its ability to combine significant capital resources, regulatory and technical know-how, risk management, land planning and development expertise to promote socially responsible, sustainable land reuse.
EFG’s business model has been defined by the unique legal, regulatory, engineering, development and related complexities inherent in Brownfield redevelopment. By concentrating exclusively on Brownfields, EFG has created an organization and a culture which incorporates environmental considerations into every aspect of the redevelopment process.
EFG’s knowledge and years of experience have created a unique ability to manage and price environmental risk, resulting in superior risk-adjusted returns. EFG’s ability to obtain regulatory closure has allowed the Company to purchase properties at distressed prices, achieving cost and timeline efficiencies throughout the redevelopment process, and exiting at full market value.
Due to the Company’s relationships and track record of successfully achieving regulatory closure on its projects, EFG has often been the preferred buyer of environmentally challenged properties.
EnviroFinance Group, LLC (EFG)’s projects have spanned the United States, literally from Maine to Hawaii.
Our projects have addressed the remediation and abatement of hazardous materials resulting from a broad range of historical industrial uses including general manufacturing, refining, smelting, chemical manufacturing, power plants and steel mills, as well as more common commercial activities such as hospitals/medical uses, dry cleaning/commercial laundries and petroleum sites.
EFG has managed the abatement of asbestos and regulated building materials in demolition of over 2 million square feet of commercial and industrial buildings, often in concert with building material recycling and reuse.
EFG has been acutely aware of the opportunity to make a difference in the communities in which its projects are located. We understand the impact that contaminated properties have on a community’s economy and we have taken a proactive approach to working with local communities on each of our projects. Developing a shared vision for planned reuse and economic development of brownfields ensures a successful project for all stakeholders.
The Company manages a broad range of project types, including:
Chief Executive Officer
Ed Elanjian is responsible for EFG’s overall business and directs strategic and operational planning, business development, and finance functions. He has been employed in the financial services industry since 1979, with over twenty years devoted exclusively to real estate lending and / or development, both residential and commercial.
Immediately prior to joining EFG Mr. Elanjian served as a Senior Vice President in Lehman Brothers’ Mortgage Capital Division, working with Lehman’s mortgage origination and servicing subsidiaries and mortgage securitization and trading desks in a variety of transactional, financial and operations roles.
Mr. Elanjian was also a Managing Director and head of the financial advisory practice of Cohane Rafferty Securities, LLC, a position he held since joining the firm in 1993. Cohane Rafferty was the country's largest brokerage firm dedicated solely to the mortgage banking industry before being acquired by Lehman Brothers, Inc. in 2002. While at Cohane Rafferty and subsequently Lehman, he advised several of the country's largest banks and mortgage companies in acquisition or divestiture transactions, including Wells Fargo, GMAC Residential Mortgage, J.P. Morgan Chase, Bank of America (Fleet) and others. He also advised the creditors' committees of Lomas Mortgage Corporation and Southern Pacific Mortgage, as well as the FDIC and National Australia Bank.
Mr. Elanjian earned his Bachelors and Masters Degrees from the Wharton School of the University of Pennsylvania in the fields of Finance and Accounting. He is also a Certified Public Accountant.
Senior Vice President & General Counsel
Andy Derickson performs a variety of legal and operational roles for EnviroFinance Group, LLC (EFG), its subsidiary companies and joint ventures. He is responsible for managing and directing the daily operations of the development projects and oversight of all corporate transactions and compliance matters. Mr. Derickson has more than twenty years of experience as a practicing attorney and project manager in the real estate and financial services industries.