Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), in conjunction with its partner, CounterPointe Sustainable Real Estate LLC (CSRE), announced an expanded strategic alliance operating as Hannon Armstrong Sustainable Real Estate (HASRE), 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 announced 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," said Jeffrey Eckel, President & 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."
"This has been a winning relationship from the start – for CSRE, Hannon Armstrong and commercial property owners across the country," said 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."
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.
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.
About Hannon Armstrong:
Hannon Armstrong (NYSE: HASI) is a capital and services provider to the sustainable infrastructure markets, focused on reducing climate changing greenhouse gas emissions ("GHG" or carbon emissions) as well as mitigating the impact of, or increasing resiliency to climate change. Our goal is to generate attractive returns for our stockholders by investing capital in assets that generate long-term, recurring and predictable cash flows or cost savings from proven technologies. We also provide services to the various partners and counterparties in the markets where we invest. Our management team has extensive relevant industry knowledge and experience, dating back more than 30 years. With scientific consensus that climate warming trends are linked to human activities and resulting in various extreme weather events, we believe our firm is well positioned to generate better risk-adjusted returns by investing in the assets, and providing services to the firms, that reduce carbon emissions. Further, with increasing weather-related events affecting certain areas of our markets, we see similar investment and services opportunities in infrastructure assets that mitigate the impact of, and increase the resiliency to, these weather events and climate change. We are based in Annapolis, MD. For more information, please visit: www.hannonarmstrong.com.
About CounterPointe Sustainable Real Estate:
CounterPointe Sustainable Real Estate (CSRE) is a green energy finance company primarily focused on Property Assessed Clean Energy (PACE). CSRE targets the origination of PACE financing for all types of commercial real estate. Its affiliate, CounterPointe Energy Solutions provides turnkey solutions for PACE programs to municipalities, program managers and administrators through a cutting-edge web-based platform for originating, underwriting, funding and servicing PACE assessments and bonds. For more information, please visit www.counterpointesre.com.
