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Eco-Efficiency icon Eco-Efficiency: KKR Multifamily Properties Portfolio

Improving Operations in Multifamily Properties

Key Environmental Performance Areas:

  • Greenhouse Gas Emissions (Facilities)
  • Water Use (Facilities)

Planned lighting upgrades that are projected to save
1.25 million kWh annually.

Planned a water reduction project estimated to save
12 million gallons annually.

Challenge

Multifamily residences can have significant energy and water use impacts. Residential lighting accounts for 14 percent of total residential electricity consumption in the United States.i Water use in inefficient multifamily residences can be up to 150 gallons of water per day.ii Real estate management companies can minimize their environmental footprint and associated costs by utilizing efficient lighting and water fixtures.

KKR engaged Crossbeam Concierge on a portfolio of multi-family properties spread across the United States.

Response

In 2015, Crossbeam Concierge began partnering with the Green Solutions Platform (GSP) team on evaluating energy and water efficiency projects, including:

  • Interior and exterior lighting upgrades, including in residential spaces, to improve energy efficiency.
  • Boiler controls to reduce energy use to produce hot water.
  • Toilet and showerhead replacements to reduce water use.

While its work with the GSP team began in 2015, Crossbeam Concierge began participating in KKR's green program in 2016 and expects to communicate results in 2017.


i International Energy Agency. "About Lighting." IEA.org. N.d. Web. 26 May 2016.

ii US Department of Housing and Urban Development. Water Conservation: Overview of Retrofit Strategies, A Guide for Apartment Owners and Managers. 2002. Web. 26 May 2016.

iii Self-reported portfolio company data is not calculated, reviewed or independently verified by KKR or KKR Capstone. For more information regarding the results methodology for companies evaluating their own data, please see the methodology section. There is no guarantee that any GSP-related avoided costs or added efficiencies will positively impact the portfolio company’s valuation or performance.

Unless otherwise noted, portfolio company data represents 2015 results, published in August 2016. These case studies may contain forward looking statements including descriptions of planned projects and projected results and savings. These statements are subject to the risk that the projects will not develop as planned or at all or that projected results and savings are not realized.