Appalachia Mitigation Bank Portfolio

LandVest, on behalf of our client, is pleased to offer a portfolio of Mitigation Banks located in West Virginia, Kentucky and Ohio. The portfolio encompasses nine separate mitigation banks generating approximately 238,500 total potential stream and 68 wetland mitigation credits, representing an excellent natural capital or ecosystem services investment opportunity. Constituent projects are fully entitled, successfully restored and in advanced stages of credit release with a high percentage of credits remaining for sale.

Project service areas demonstrate strong mitigation demand from commercial development, transportation, utilities, oil and gas and mining sectors. Projected net revenue of the remaining available credits (2025-2038) is estimated to be $82.6M. Underlying project acreage is protected by a combination of conservation easements and leases that ensure the long-term stability and success of each mitigation bank.

Investment Highlights

• Assets are fully developed and cash flow positive with no anticipated requirement for additional capital after acquisition
• Located in dynamic and geographically diverse markets with high barriers to entry
• Portfolio has been meaningfully de-risked over the past several years
• Achievement of full entitlement and permitting of all assets, eliminating entitlement risk
• Completion of successful land restoration, reducing execution risk
• Establishment of credit sales relationships with major regional developers, reducing market risk

Mitigation banks provide an efficient means for commercial, transportation, industrial development, and a myriad of other sectors to satisfy permitting requirements under the federal Clean Water Act (CWA) which ensures no net loss of stream and wetland habitat. The bank sponsor generates entitled mitigation credits by restoring and enhancing degraded stream and wetland habitats as prescribed under a US Army Corps of Engineers approved Mitigation Banking Instrument (MBI).

As the restoration project unfolds and specific performance standards are met, mitigation credits are released for sale. The value proposition of the mitigation bank credits over other forms of mitigation is that it streamlines the permitting of development projects while also restoring degraded stream and wetland habitat within the same watershed or “service area”.

LandVest is offering the Appalachia Mitigation Bank Portfolio in a single-stage sealed bid process. Additional information regarding the offering and the bid process is housed in the project data room hosted by OneHub data services. The data room is now open. Bids are due by 1:00 pm EST on April 22, 2025. Interested parties are invited to apply for data room access by returning a signed nondisclosure agreement, located in property documents below.