RES Acquires Bluefield Ranch Mitigation Bank in Florida
September 06, 2023
Joint Venture with RLH Establishes RES as Operator, Providing Credit Sales and Long-term Adaptive Management
RES, a national leader in ecological restoration, water resource, and resiliency solutions, has partnered with Resource Land Holdings (“RLH”), a private investment firm focused on natural resource real estate, to acquire the Bluefield Ranch Mitigation Bank in South Florida.
Adding this broad-based ecological resource to RES’ stewardship is part of the company’s unwavering commitment to bolstering the state’s ecological resilience and expanding RES’ suite of services.
Designed, restored, and managed at an ecosystem or landscape level, Bluefield Ranch Mitigation Bank is one of Florida’s most ecologically diverse banks, with a 2,695-acre ecosystem featuring 21 native plant communities. Sitting astride a “South Florida continental divide,” approximately 60% of the bank is part of the Greater Everglades Ecosystem/Watershed, while the remainder of the bank site is part of the St. Lucie River-Eastern Flatwoods/Indian River Lagoon Ecosystem/Watershed.
Bluefield Ranch Mitigation Bank received approval from the South Florida Water Management District for a 2.1 million-acre expansion of their Mitigation Service Area (MSA), now 2.8 million acres. The Bluefield Ranch Mitigation Bank MSA encompasses portions of St. Lucie, Martin, Palm Beach, Broward, Okeechobee, Glades, Indian River, and Hendry counties. Bluefield Ranch Mitigation Bank credits may be used to mitigate impacts to a broad range of indigenous native community types within the expanded MSA, including any ecotones and community sub-types or variations associated with these community types.
RES operates over 400 mitigation sites across the U.S., often partnering with natural resource investment firms to expand mitigation availability to new service areas and provide experienced, high-quality adaptive management of existing banks. The acquisition of Bluefield marks the 24th conservation/ mitigation bank asset acquired by the RES-RLH joint venture across four states since 2021.
Desmond Duke, the Client Solutions Manager at RES, expressed, “The Bluefield Ranch Mitigation Bank offers a rich inventory of freshwater forested and herbaceous wetland credits. I’m excited RES will continue to provide a viable mitigation solution to meet permit mandates concerning impacts to both state and federal wetland areas, including mitigation efforts for listed species such as the wood stork, caracara, and other species, approached on a case-by-case basis.”
The Bluefield Ranch Mitigation Bank is strategically positioned to maintain its status as a leading wetland mitigation bank in Southeast Florida. The size and location of Bluefield Ranch Mitigation Bank provide fundamental ecological benefits to the region and allow this premier wetland restoration project to generate a large supply of wetland credits, which are made available to clients at competitive market rates.
RES’ team of Florida-based ecologists and scientists will assume full responsibility for the long-term adaptive management of this important resource.
About Resource Land Holdings
Resource Land Holdings has focused its investing activities exclusively on the natural resource real estate sector for more than twenty-five years. The Firm, alongside talented operating teams, has completed 80+ transactions across 28 states/provinces spanning farmland, timberland, water, ecological assets, vacant real estate, and select aggregate mining assets (now a discontinued strategy).
For more information, visit www.rlholdings.com.