Firm also earns distinctive Environmental Protection Agency award and reports water and energy conservation results in nine additional properties nationwide
CHARLOTTE, NC – May 7, 2015 – (RealEstateRama) — Institutional real estate investment manager American Realty Advisors has announced that its ongoing strategy to boost sustainability throughout its national portfolio has had a substantial effect on water consumption for its office property South Tryon Square, located at 201 S. Tryon in Charlotte, North Carolina.
The firm, which currently has $6.7 billion in assets under management, reduced water consumption at South Tryon Square by 27 percent, and was recognized as a leader in water conservation by the Environmental Protection Agency.
“The need for water conservation is a growing concern across the U.S.,” says Stanley Iezman, Chairman & CEO of American Realty Advisors. “According to a 2013 survey by the Government Accountability Office, 40 states expect to experience water shortages in the next decade.”
Iezman continues, “The U.S. consumes a whopping 26 billion gallons of water daily, and commercial properties account for nearly 12 percent of that consumption.
Based on these numbers, it’s essential for asset managers to go beyond talking about sustainability, and instead find new ways to actually move the needle when it comes to water use reduction.”
The South Tryon Square asset, a 236,697 square-foot, 15-story Class A office building, also features a nearby 11-story parking garage located at 237 S. Tryon. By evaluating the asset’s water usage, water costs, and wastewater, American was able to identify key strategies to improve the property’s overall efficiency, ultimately saving more than 1.4 million gallons of water annually, according to Iezman.
The firm replaced existing water fixtures with low flow water fixtures in each of the faucets and toilets throughout the building, and incorporated automated water faucets and soap dispensers in each restroom in order to achieve this milestone. In addition, American plans to replace 28 flush valves from 1.0 to 0.5 gallon in 2016 to further improve water conservation in this asset.
“By investing in the sustainability of our assets now, we are able to deliver deeper value to our investors by increasing net operating income and overall property values, while also reducing the negative impact our buildings have on the environment,” notes Iezman.
Recently, South Tryon Square was recognized by the Environmental Protection Agency’s 2014 National Building Competition: Battle of the Buildings, and was awarded an ENERGY STAR® award in water conservation.
In addition to South Tryon Square, Iezman notes that American Realty Advisors also significantly reduced water and energy consumption in 2014 for several of its properties throughout its portfolio, including:
· 1101 14th Street in Washington, DC – American reduced energy use by 19.5 percent
· 810 1st Street in Washington, DC – American cut water use by 17.7 percent
· 150 N. Wacker in Chicago, Illinois – American lowered water consumption by 17.2 percent
· Energy Center II in Houston, Texas – American reduced water use by 12.3 percent, lowered greenhouse gas by 342 metric tons, and reduced energy use by 11.4 percent
· Deerbrook Corporate Center in Deerfield, Illinois – American cut water consumption by 12 percent
· Oak Brook Regency Towers in Oak Brook, Illinois – American cut water use by 11 percent
· Glenwood Plaza in Raleigh, North Carolina – American lowered energy use by 9.6 percent
· Great American Tower in Phoenix, Arizona – American reduced energy use by 5.8 percent
· Piedmont Center in Atlanta, Georgia – American cut energy use by 1.4 percent
With over $6.7 billion in assets under management, American Realty Advisors is an investment manager to institutional investors, and has provided real estate investment management services for over 26 years utilizing core and value-added commingled funds and separate accounts. American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding American can be found at www.americanreal.com.
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
LAstfalk (at) browermillercole (dot) com