German asset and investment manager KGAL has reported savings of 32% for its portfolio from its ongoing energy optimisation programme last year.
According to the Grünwald-headquartered company, asset management strategies from the real estate team resulted in energy costs falling by €530,000 during 2016 through renegotiating existing energy supply contracts and the blanket procurement of green electricity.
'The constant optimisation of energy costs is one of the core objectives within our asset management team. Sustainable asset management promotes the appreciation of real estate and contributes to the protection of resources, and brings value to both our institutional clients and tenants alike," commented André Zücker, managing director for real estate at KGAL Investment Management.
15 commercial properties managed by KGAL in Germany on behalf of institutional clients were the subject of the energy optimisation offensive, representing a total area of 270,000 m2.
According to KGAL, the successful conclusion of this initiative means that tenants will continue to reap the benefit through to 2022.
KGAL, which invests in real estate, aviation and infrastructure, manages an investment volume of c. €21.5 bn as of the end of December 2016, including 112 active closed-end funds.
(Photo credit KGAL/Marcus Schlaf)
