$120B real estate investment firm captures and syncs tenant-controlled utility data to Energy Star in 60 days
Context
As a global real estate investment firm with assets under management of over $115 billion, the portfolio spans multiple asset classes, geographies and positions in the capital stack.
Since 2020, Enertiv had been an integral partner in the office product, helping to replace over 53 unique software vendors onto one consolidated platform across 50 assets and delivering over $1.2M in operating expense savings (translating to over $23M in asset value).
Recently the firm asked Enertiv whether they could help in their industrial portfolio as well.
That was on August 3rd, 2022.
Problem
Due to pressure from the capital markets, as well as upcoming regulatory changes, the firm needed to report on carbon emissions.
The challenge is that the industrial portfolio is triple net leased. Tenants pay for their own utility bills and therefore own the data. Attempts to ask for data sharing had been slow and spotty.
Enertiv put together a proposal for shadow metering. Compared to the deployments in the office portfolio, which included BMS integration, equipment-level monitoring, air quality and occupancy tracking and replacing multiple workflows, the scope of work for industrial was straightforward.
Strategy
In partnership, it was decided to focus on a strategically important group of assets in the Salt Lake City submarket.
Pricing was established and the contract was signed. This kicked off Enertiv’s digitization and installation process.
Results
By October 2nd, only 60 days after the initial conversation, Enertiv had created a digital repository for all metering information, completed installation of the shadow meters, and deployed networking to flow data into the cloud in real time.
At the same time, Energy Star Portfolio Manager accounts were set up and synced with the data in Enertiv.
Following landlord setup, each tenant was provided with a dedicated tenant portal to view their real-time consumption.
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60 days
portfolio-level deployment
A global private investment firm focused on real estate and real assets, with more than $115 billion in assets under management. Its portfolio spans multiple asset classes, geographies, and positions across the capital stack, reflecting one of the most established and recognizable real estate investment platforms in the market.
Wherever you are on the journey, Enertiv is built to take you further.
For more than 15 years, we’ve helped owners & operators get the data they need, unlock asset value, maximize NOI, and accelerate decarbonization.
