Domain Environmental Platform Mitigates Superfund Site Pollution

ATLANTA--(BUSINESS WIRE)--May 2, 2024--

Domain Capital Group, LLC, a comprehensive private investment management services firm, and its subsidiary, Domain Timber Advisors, LLC (DTA), today announced a transaction involving a high-profile Oregon Superfund site and its co-investment vehicle that focuses on ecological restoration projects that generate environmental offset credits.

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Domain received an award of funds for the transfer of more than 20 Discounted-Service-Acre-Year (DSAY) credits from their Alder Creek Restoration Project, after completion of a live auction conducted by the Portland Harbor Natural Resource Trustee Council. A DSAY represents the annual value of all ecosystem services provided by one acre of restored habitat as determined by a Habitat Equivalency Analysis performed during the Alder Creek permitting process.

Located on 52 acres at the southern tip of Sauvie Island along the confluence of the Multnomah Channel and Willamette River, the Alder Creek project was the first habitat restoration effort implemented specifically to benefit fish and wildlife affected by years of industrial contamination in Portland Harbor.

“Hundreds of acres of rare, sensitive wildlife habitats that once thrived and were abundant suffered from the impacts of heavy industry operating along the waterway,” said Alton Owens, Domain’s Director of Natural Capital. “Restoration activities at Alder Creek included removal of a decommissioned sawmill, excavation of non-native fill and replacement of native soils in the floodplain, reshaping of natural riverbanks, planting of native trees, shrubs, and grasses, creation of shallow water channels, beaches and mudflats, and seasonal wetlands.

“The aquatic habitats created provide resting and feeding areas for young salmon and lamprey, as well as foraging areas for resident and migratory birds. Along the shore, improved beaches, wetlands, and riparian habitat provide access to suitable refuge for mink, while forests provide shelter and nesting sites for a variety of native wildlife,” Owens added. “We are incredibly excited about the continued ecological success story of Alder Creek, which both achieves the investment objective of our fund and makes a lasting impact on such a historically important ecosystem.”

In conjunction with the Portland Harbor Trustee Council, the project was developed and is managed by the fund’s operating partner; Rocklin, California-based Wildlands, Inc., an industry leader in habitat mitigation solutions. Wildlands assists public and private developers in complying with complex resource agency permit requirements through the restoration of regulated streams, wetlands, and rare species’ habitat.

More information on the Alder Creek Restoration Project can be found on the websites of Wildlands, the U.S. Environmental Protection Agency and the U.S. Fish and Wildlife Service.

About Domain Capital Group

Atlanta-based Domain Capital Group, LLC provides comprehensive private investment management services, through its registered investment adviser subsidiaries, to institutions, public and private pensions, corporations, foundations, endowments and high-net-worth individuals. Domain Capital Group’s investment professionals are experienced across a diverse range of asset classes and investment strategies, including real estate, natural resources, media, entertainment, technology, and credit and other financial services. As of December 31, 2023, Domain managed approximately $7.8 billion in total assets through its two registered subsidiaries, Domain Capital Advisors, LLC and Domain Timber Advisors, LLC. The figures presented herein are preliminary and are provided for informational purposes only. The total assets under management figures are based on internal estimates and may be subject to adjustments following the completion of Domain’s 2023 annual audit. The assets are comprised of approximately $6.7 billion in real estate, debt, alternative, and other assets constituting Regulatory Assets Under Management (“RAUM”) and approximately $1.1 billion in non-RAUM which includes real properties and additional loans serviced. Please refer to each firm’s Form ADV for additional details. For further information, visit domaincapitalgroup.com.

Located on 52 acres at the southern tip of Sauvie Island along the confluence of the Multnomah Channel and Willamette River, the Alder Creek project was the first habitat restoration effort implemented specifically to benefit fish and wildlife affected by years of industrial contamination in Portland Harbor. (Photo: Business Wire)

SEOUL, South Korea (AP) — North Korea fired suspected short-range ballistic missiles off its east coast on Friday, South Korea’s military said, a day after South Korea and the U.S. flew powerful fighter jets in a joint drill that the North views as a major security threat.

South Korea's Joint Chiefs of Staff said the weapons launched from the North's east coast Wonsan region traveled about 300 kilometers (185 miles) before landing in the waters between the Korean Peninsula and Japan. Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said a North Korean missile landed outside Japan's exclusive economic zone.

South Korea's Joint Chiefs of Staff statement called the launches “a clear provocation” that threatens peace on the Korean Peninsula. It said South Korea will maintain a firm readiness to repel potential aggressions by North Korea in conjunctions with the military alliance with the United States.

North Korea has extended its run of weapons testing in recent months as part of its efforts to enlarge and modernize its arsenal while diplomacy with the United States and South Korea remains stalled. Last week, North Korean leader Kim Jong Un supervised the test firing of a new multiple rocket launch system, according to the North’s state media.

North Korea says it has been forced to boost its nuclear and missile programs to deal with U.S.-led hostilities. North Korea cites expanded U.S.-South Korean military training, which it calls an invasion rehearsal. Many foreign experts say North Korea uses its rivals' military drills as a pretext for building a larger weapons arsenal in the belief that it would boost its leverage in future diplomacy with the U.S.

On Thursday, two South Korean F-35As and two U.S. F-22 Raptors were mobilized for a combined aerial exercise over the central region of South Korea. North Korea is extremely sensitive to the deployment of sophisticated U.S. aircraft. It was reportedly the first deployment of a U.S. F-22 to South Korea in seven months.

The North's official Korean Central News Agency said Friday the re-deployment of the U.S. F-22s for joint training with South Korea is “another clear proof of the hostile nature of the U.S.” which seeks “a showdown of force” with North Korea. KCNA accuses “the military gangsters” of South Korea of intensifying tensions to keep pace with “their master's confrontation scheme” against the North.

It warned the F-22s flyovers “will only precipitate the advent of a situation that the U.S. does not want to see." But it didn't elaborate what steps North Korea would take.

Also Friday, Kim's sister and senior official Kim Yo Jong said North Korea’s recent weapons tests were part of the country’s five-year arms buildup plan launched in 2021. She said the recently tested weapons are designed to attack Seoul, the South Korean capital, and denied outside speculation that the tests were meant to display weapons that North Korea plans to export to Russia.

“We don’t conceal the fact that such weapons will be used to prevent Seoul from inventing any idle thinking,” Kim Yo Jong said in a statement carried by KCNA.

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Associated Press writer Mari Yamaguchi in Tokyo contributed to this report.

FILE - Kim Yo Jong, sister of North Korea's leader Kim Jong Un, attends a wreath-laying ceremony at Ho Chi Minh Mausoleum in Hanoi, Vietnam, March 2, 2019. On Friday, May 17, 2024, Kim Yo Jong again denied that her country has exported any weapons to Russia, as she labeled outside speculation on North Korea-Russian arms dealings as “the most absurd paradox.” (Jorge Silva/Pool Photo via AP, File)

A TV screen shows a file image of North Korea's missile launch during a news program at the Seoul Railway Station in Seoul, South Korea, Friday, May 17, 2024. North Korea fired a ballistic missile off its east coast on Friday, South Korea's military said, a day after South Korea and the U.S. flew powerful fighter jets for a joint drill that the North views as a major security threat. (AP Photo/Ahn Young-joon)

FILE - In this photo provided by the North Korean government, North Korean leader Kim Jong Un, center, supervises artillery firing drills in North Korea Thursday, March 7, 2024. Independent journalists were not given access to cover the event depicted in this image distributed by the North Korean government. The content of this image is as provided and cannot be independently verified. Korean language watermark on image as provided by source reads: "KCNA" which is the abbreviation for Korean Central News Agency. (Korean Central News Agency/Korea News Service via AP, File)