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Vision Ridge Partners LLC. a Boulder-based investment firm, has sold a portfolio of mitigation banking assets in southeast Texas.

Mitigation banking is used to offset ecological damage done by development by preserving property in another location.

The offloaded banks are protected in perpetuity through conservation easements enforced by local nonprofits and include more than 2,000 acres of wetlands and 60,000 linear feet of stream waters, according to a Vision Ridge news release.

Vision Ridge worked with The Earth Partners, an ecological restoration company, to manage the portfolio.

Terms of the sale were not disclosed.

“We are pleased to have overseen the permitting, construction, and operations of these banks, which play a critical role not only in the protection of our local ecosystems, but also the planet at large,” Vision Ridge managing partner Reuben Munger said in a statement. “The Earth Partners’ technical expertise and regulatory knowledge of land-based environmental assets were a tremendous value-add as we worked together to maximize the benefits of the portfolio for our investors and the environment.”

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

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