Principal Real Estate Investors Receives Multiple LEEP Awards for Lighting Upgrade Projects
(Des Moines, Iowa) - Principal Real Estate Investors is proud to announce the receipt of two awards in the Lighting Energy Efficiency in Parking Campaign; organized by the Building Owners and Managers Association International, the Green Parking Council, the International Facility Management Association, and the International Parking Institute. The LEEP Campaign encourages facility owners to upgrade to energy-efficient lighting in parking lots and structures by offering guidance and recognition for exemplary performance.
Principal Real Estate Investors earned the “Greatest Percentage of Facilities Upgraded” award with lighting upgrades at the majority of its properties in Texas. Fourteen Principal-owned retail, industrial, and multifamily properties in Austin, Dallas, and Houston performed lighting upgrades in 2014 that contributed to the awards. In total, 2,370 lamps were upgraded from energy-intensive halogen and metal halide lighting to efficient LED and fluorescent lamps, achieving a 60% reduction in energy usage (1,498,700 kWh saved). The upgrades included parking lot, garage, and wall pack lighting located in parking areas. John Leusink, regional engineer at Principal Real Estate Investors, spearheaded the effort focused in Texas.
"We are proud to have developed this targeted regional approach to tackle energy efficiency opportunities across a large sub-section of our portfolio,” says Leusink. “This initiative helps address sustainability and builds value in the investments we manage."
Toscana Apartments, located in Austin and managed by BH Management Services, LLC earned the “Greatest Energy Savings in a Retrofit Parking Lot” award for achieving an 85% reduction in common-area energy usage, resulting from retrofitting parking lot lighting to LEDs throughout the community. The property achieved a major improvement in energy performance and gained enhanced aesthetics from the project.
"Not only do the upgrades allow us to reduce costs and have a positive impact on the environment but the quality of light in our parking areas has shown a visible improvement, enhancing the look and feel of the community,” adds Gwendolyn Peschke, manager of Toscana Apartments. “All of these benefits have contributed to the success of project.”
The LEEP campaign aligns with Principal Real Estate Investor’s Pillars of Responsible Property Investing initiative, which seeks to continually improve property performance, and promotes management team efforts to find ways to improve financial and environmental performance at the property level.
Principal accepted the awards on June 29 at the BOMA 2015 Every Building Conference held in Los Angeles, CA.
About the Pillars of Responsible Property Investing Initiative
The Pillars of Responsible Property Investing (PRPI) is the overarching sustainability initiative undertaken by Principal Real Estate Investors and its property management partners. The PRPI initiative seeks to reinforce the social and economic vitality of markets where Principal Real Estate Investors invests, manage risk and enhance transparency, and improve each property’s competitive stature through improved financial and environmental performance. The PRPI initiative grew from Principal Real Estate Investors’ early sustainability efforts including becoming a signatory of the United Nations Principles for Responsible Investing. For more information, please visit https://www.principalglobal.com/principal-real-estate-investors/responsible-property-investing
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $59.3 billion in commercial real estate assets]. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
1 As of March 31, 2015