Koll Forms Joint Venture With Environmental Services Firm

Koll, the Newport Beach real estate firm, has formed a joint venture with ENSR, an environmental services firm, to clean up and sell contaminated real estate properties.

The new venture, Koll ENSR Environmental Realty Advisors, will be a one-stop shop that provides the capital and expertise for investors, financial services companies and corporations that need help in cleaning up and selling hazardous-waste sites.

“Estimates show that one in eight properties has hazardous waste in some form or fashion,” said Nicholas Patin, a managing director for Koll. “We see an opportunity here. Reporting standards that companies must adhere to on these impaired properties are much more stringent, so they want to get it taken care of. They have no choice.”

ENSR, based in Acton, Mass., has more than 30 locations worldwide. Terms of the deal were not disclosed.