Brownfield is an urban planning term that refers a land parcel or property that has been rendered unfit due to industrial contamination, pollution, or dereliction.
Property developers that are involved in the transformation of brownfield sites into usable assets are usually said to be involved in the process of brownfield development.
In situations where owners of brownfield land or brownfield sites do not redevelop these assets for productive use, the assets are referred to as mothballed brownfields.
This entry is part of REITsWeek's glossary of REITs and real estate investment terms.
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[…] The alternative to Greenfield Developments as a growth strategy would be property acquisitions. This involves the buying over of already existing properties as a means of growing the REIT’s portfolio. When the buying of an underperforming or distressed property (in the effort to turn the property around) is involved, it has also been referred to in some investment literature as a Brownfield Development. […]
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