Geosam Capital Announces Acquisition of 2,500-Acre Environmental Preserve – Tiger Bay Mitigation Bank – in Volusia County, Florida
ORMOND BEACH, FL / ACCESSWIRE / January 5, 2023 / Geosam Capital is pleased to announce the acquisition of Tiger Bay Mitigation Bank, located in Daytona Beach, Florida. This transaction represents an excellent opportunity for Geosam to protect, preserve and restore approximately 2,500 acres of wetlands and uplands, improving water quality, stormwater retention and providing critical habitat to native and migratory wildlife species. Preservation and enhancement of this property will, in part, offset unavoidable environmental impacts from new development of infrastructure, residential, commercial, and industrial projects in the Deltona-Daytona-Ormond Beach, Florida MSA.
The Bank provides both state and federal freshwater forested and palustrine wetland mitigation credits within the Halifax River Basin (Basin 17), located in the St. Johns River Water Management District (SJRWMD) and the U.S. Army Corps of Engineers (USACE) service area.
In connection with its regulatory permits, Tiger Bay Mitigation Bank has placed land into perpetual conservation easements. Adjacent to the Bank property is the 27,000-acre Tiger Bay State Forest, an extensive wetland that provides a critical aquifer recharge for the local area.
“This property is a terrific conservation asset, with excellent potential to generate ecological values sought after in the emerging world of sustainable investment and corporate environmental, social and governance commitments. Conservation finance, and in particular mitigation banking, is a quickly expanding field that offers opportunities to generate great risk-adjusted returns, while also having a positive environmental impact,” said Martin Pham, Chief Investment Officer at Geosam Capital. “Geosam is proud to not only facilitate new development, but to also ensure a no net loss to the environment. Tiger Bay is a perfect complement to our portfolio as we work towards improving the health and wellness of the communities we serve.”
About Geosam Capital
Geosam Capital is a private investment firm, focused on real-estate development, environmental conservation and fostering sustainable community growth. Established 10 years ago, we are a family-owned company that creates long-term value, concentrating primarily on investments across the southeastern United States, with offices in our core markets: Florida, Georgia, Texas and North Carolina. Our current body of work includes master-planned subdivisions, residential, commercial, and mixed-use development (horizontal & vertical), single-family rentals (SFR), build-to-rent (BTR), property management, conversion (adaptive reuse), wetland mitigation and more. Since inception, we have developed over 10,000 residential lots and have over $1 billion worth of projects completed or under development.
For more information, please contact Martin Pham, Chief Investment Officer at (386) 428-8448 or visit our website www.geosamus.com.
SOURCE: Geosam Capital
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