Hannon Armstrong Sustainable Infrastructure Capital Inc., in conjunction with its partner, CounterPointe Sustainable Real Estate LLC, recently revealed that it has expanded strategic alliance operating as Hannon Armstrong Sustainable Real Estate, designed to leverage CSRE’s relationships, real estate expertise, and comprehensive knowledge of Commercial Property Assessed Clean Energy (C-PACE) programs and the Company’s efficiency and renewable energy finance expertise. The two companies previously revealed a partnership in December 2016.
“The focus of HASRE will be major developers, owners and property managers of significant office buildings, hotels, multi-family housing and other commercial real estate assets,” explains Jeffrey Eckel, president and CEO. “We look forward to continuing our leadership position in the C-PACE market, putting capital to work in upgrading commercial infrastructure that simultaneously creates jobs, increases productivity and reduces a building’s use of fossil fuels.”
Available in 33 states plus D.C., C-PACE programs enable owners of commercial, industrial and multifamily properties to obtain low-cost, long-term financing for energy efficiency, water conservation, renewable energy and hazard mitigation projects. Real estate owners can benefit from an immediate increase in cash flows and building value by reducing energy costs while financing 100% of the retrofit. CSRE also provides turnkey solutions for these programs to municipalities, program managers and administrators through a cutting-edge web-based platform for originating, underwriting, funding and servicing PACE assessments and bonds.
“This has been a winning relationship from the start – for CSRE, Hannon Armstrong and commercial property owners across the country,” adds Eric Alini, Managing Partner, HASRE/CSRE. “Together, we will be able to provide owners of commercial properties the financing and project expertise needed to make crucial energy efficiency and clean energy improvements.”
The only NYSE publicly listed “green REIT,” Hannon Armstrong defines sustainability as having a positive impact on the environment by being neutral or negative on GHG emissions. In keeping with this definition, every Hannon Armstrong project is screened for GHG reductions and other environmental benefits, such as water use reduction, as part of the investment evaluation process. In 2017, Hannon Armstrong invested approximately $1 billion in sustainable infrastructure projects, which are estimated to reduce annual carbon emissions by 530,000 metric tons.