Property Manager CBRE To Focus On Solar, Battery Storage

Real assets investment management company, CBRE Investment Management has shared the news of launching a sustainability initiative that looks at escalating the development of solar projects within its direct logistics portfolio. The present portfolio of the company spans 17 countries in the world and covers more than 600 assets, 200 million sq. ft. and $30.2 billion AUM.

CBRE said that under this initiative, it is working closely with Altus Power in the U.S. and Europe to establish solutions that are focused on decarbonization and resiliency, including the development and installation of solar power generation, battery storage and electric-vehicle charging systems. Altus Power is a commercial-scale clean electrification company.

Chuck Leitner, CEO, CBRE Investment Management, said, “We are focused on deploying onsite solar projects across our logistics assets where viable in order to advance our sustainability goals and support the transition to clean energy. We look forward to expanding our relationship with Altus Power across core markets in the U.S. and Europe as we scale to make our portfolio more resilient, profitable and sustainable.”

Renewable Energy Dash Of CBRE

Earlier this year, CBRE announced its first agreement with Altus Power to build and operate a portfolio of rooftop community solar projects on logistics facilities that are managed by CBRE in Maryland, USA. These projects, which provide renewable energy to residential customers and CBRE logistics tenants, are expected to produce savings for approximately 5,700 residential customers in Maryland.

The official statement of CBRE held that its enhanced focus on clean electrification comes two years after the business adopted its logistics investor-developer-operator model that focuses on delivery across all aspects of an asset’s lifecycle, from investment through to the user experience. In line with this, the firm created a global sector-specific logistics team in June 2021 to enhance and better align its expertise across the sector.

Since then, CBRE Investment Management’s direct logistics assets under management have increased by more than 34% from $22.5 billion to $30.2 billion, while the firm’s full real assets portfolio now stands at a record high of $146.9 billion.

Earlier in 2022, Trammell Crow Company, another CBRE subsidiary, announced a strategic partnership to bring Altus Power’s clean energy solutions to 35 million sq. ft. of industrial assets in the company’s U.S. real estate development pipeline.

CBRE Investment Management is today a leading global real assets investment management firm with $146.9 billion in assets under management and its operating in more than 30 offices and 20 countries around the world.