LIVERMORE, Calif. -- Reterro, Inc., the only vertically integrated Brownfield redevelopment company able to eliminate distressed property liabilities safely and sustainably, announced today two strategic hires to invest in the growth of the company’s Brownfield team. The team’s objective is to identify, acquire and restore contaminated Brownfield properties for reuse without risk of transferring financial and environmental liabilities. Veteran executive Michael “Mike” Malley has been hired as senior vice president of development and Phil Tang has been hired as vice president.
Prior to his appointment with Reterro, Malley was RESIGHT Holdings’ president. Malley is a seasoned real estate, environmental and risk management professional. He brings more than 30 years of experience in environmentally distressed real estate acquisition, development and investment. Malley has managed and divested surplus and impaired real estate assets with combined liability, restructuring and disposition costs in excess of $1.5 billion. He has completed over $200 million of hazardous waste remediation projects associated with Brownfield transactions. Malley complements the existing Brownfield team and is responsible for acquisition and redevelopment, deal structuring, environmental liability quantification and asset investment analysis.
Prior to joining Reterro, Tang was GHD’s senior project manager and in management roles at various leading environmental companies. He was responsible for numerous remediation projects and a diverse client network of attorneys, real estate professionals, developers and property owners. Tang brings more than 25 years of industry experience and a track record of success in advanced remediation technologies and complex Brownfield projects.
“Demand for urban real estate is stronger than at almost any other time in the history of our country. Reterro is uniquely positioned with the specialized knowledge and experience to acquire, rapidly redevelop and return these underutilized assets to productive use. The addition of Mike and Phil’s leadership and industry performance continues our commitment to purchase impaired real estate and completely eliminate Brownfield financial and environmental liabilities,” Reterro CEO Tom Doyle said.
Reterro meets a growing need in the redevelopment market. Decades of industrialization have left vast amounts of valuable real estate contaminated with toxic chemicals. Over 80% of these sites are sitting idle. Frequently, in prime locations, close to transportation and a local workforce, revitalizing these impaired assets is the key to creating jobs, expanding the tax base and revitalizing the economy of local communities. With such significant challenges and numerous regulatory layers to navigate, Reterro is well positioned to help commercial landowners be fully informed about their options.