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Cherokee Investment Partners
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Cherokee Investment Partners, based in Raleigh, is the largest private equity fund in the world that specializes in the acquisition, remediation and sustainable re-development of contaminated real estate, or "brownfields."
Since its inception in the early 1990s, Cherokee has acquired over 300 properties and manages a $1 billion Equity fund to purchase, remediate and redevelop brownfield sites throughout the world.
While a number of the properties in its portfolio are worldwide or out of state, Cherokee is active here in North Carolina helping our communities deal with the cost associated with brownfield sites.
At North Hills Mall in Raleigh, it provided the initial investment capital to help transform the old, declining 1970s-era mall, which was filled with asbestos and had leaking gasoline tanks, into what has become the most important in-fill redevelopment project in the Triangle.
In addition, Cherokee is cleaning up and returning to productive use the old Burlington Industries Mill in Mooresville near Charlotte. The property has been renamed Victory Lane Mills, and will serve as a revitalized and historic landmark near downtown Mooresville. When cleanup and redevelopment are completed, Victory Lane Mills will have received approximately $20 million in investments that will save the community money by creating a new local, state and federal tax base and produce potentially hundreds of jobs for the Mooresville community.
Accepting for Cherokee was John Gallagher, managing director of Cherokee.
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