Transwestern Partners With Altus Power to Explore Decarbonization Opportunities

Rhea-AI Summary

Transwestern Investment Group (TIG) and Altus Power announce a strategic partnership to develop solar arrays and battery storage solutions for TIG's industrial real estate properties in Southern California, aiming to improve investors' net operating income and attract tenants. The partnership aligns with TIG's commitment to sustainable investing and ESG objectives.

Positive

• Strategic partnership with Altus Power demonstrates TIG's commitment to sustainability and value creation for investors and tenants.
• Exploration of solar projects across 24 industrial and logistics properties totaling over 8.2 million square feet signifies a significant investment in renewable energy.
• Implementation of battery storage and electric-vehicle charging infrastructure demonstrates forward-thinking approach to sustainable energy solutions.

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• None.

Efforts Focused on Industrial Real Estate Assets in Southern California

DALLAS--(BUSINESS WIRE)-- Transwestern Investment Group (TIG^®) and Altus Power, the leading commercial-scale provider of clean electric power, today announced an exclusive strategic partnership to explore the development and construction of solar arrays and battery storage solutions for a subset of TIG’s industrial real estate properties, furthering Transwestern’s commitment to its stated ESG objectives.

Through this partnership, which aligns with TIG’s pledge to foster sustainable investing, the companies plan to evaluate opportunities for solar projects across 24 industrial and logistics properties totaling more than 8.2 million square feet. In addition to the building-sited, locally generated solar power, Altus Power and TIG will explore implementing battery storage and fleet electric-vehicle charging infrastructure. In concert, these initiatives aim to improve investors’ net operating income and make the assets more attractive to existing and prospective tenants.

“Our partnership with Altus Power highlights our commitment to deliver on sustainability objectives and drive value for our investors as well as prospective tenants,” said Gary Jaye, Chief Investment Officer of TIG. “As a market leader, Altus Power will help us identify and implement solutions for our industrial assets that are both environmentally sustainable and fiscally responsible.”

“The United States is seeing huge growth in renewable energy, and buildings are at the center of this clean energy revolution,” said Lars Norell, Co-Founder and Co-CEO of Altus Power. “Through our fully integrated business model, Altus will present opportunities to streamline the deployment of clean energy solutions across a portion of TIG’s growing industrial portfolio while aiming to deliver savings on clean electric power, reducing TIG’s overall carbon footprint and increasing the net operating income of the portfolio.”

Altus Power recently developed an AI-powered comprehensive software-as-a-service platform to deliver clean power usage insights to clients as they strive to achieve ambitious net-zero goals. TIG properties with new solar arrays would be among the first to access the platform, allowing users to monitor savings from each solar asset and measure carbon emitted.

About Altus Power

Altus Power, based in Stamford, Connecticut, is the leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.

About Transwestern Investment Group

Transwestern Investment Group (TIG^®), a real estate investment adviser, seeks to provide value to institutional clients through what we believe to be compelling, thematic investment opportunities across property types and risk profiles within the United States. Part of the Transwestern companies, we have sourced and executed more than $7 billion of real estate investments to date in 26 markets.

Five dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Through offices nationwide, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108014120/en/

Media:

Molly McMurtry

twmediarelations@transwestern.com



Chris Shelton

mediarelations@altuspower.com

Source: Altus Power, Inc.

FAQ

What is the strategic partnership about?

The partnership aims to explore the development of solar arrays and battery storage solutions for TIG's industrial real estate properties in Southern California, aligning with TIG's commitment to sustainable investing and ESG objectives.

How many properties are included in the solar project evaluation?

The companies plan to evaluate opportunities for solar projects across 24 industrial and logistics properties totaling more than 8.2 million square feet.

What are the potential benefits of the initiatives?

The initiatives aim to improve investors' net operating income and make the assets more attractive to existing and prospective tenants by providing building-sited, locally generated solar power, battery storage, and electric-vehicle charging infrastructure.