NEW YORK–(BUSINESS WIRE)–CBRE Investment Management today announced a sustainability initiative to expand solar project development within its direct logistics portfolio, which now spans 17 countries globally and includes more than 600 assets , 200 million square feet and $30.2 billion in assets under management.
As part of this initiative, CBRE Investment Management is working closely with Altus Power, Inc. (NYSE: AMPS), a leading utility-scale clean electrification company in the United States and Europe, to implement places solutions focused on decarbonization and resilience, including the development and installation of solar power generation, battery storage and electric vehicle charging systems.
“We are focused on deploying onsite solar projects at our logistics assets when viable to advance our sustainability goals and support the clean energy transition,” said Chuck Leitner, Managing Director of CBRE Investment Management. “We look forward to expanding our relationship with Altus Power in key markets in the United States and Europe as we evolve to make our portfolio more resilient, profitable and sustainable.
Earlier this year, CBRE Investment Management announced its first agreement with Altus Power to build and operate a portfolio of community rooftop solar projects at logistics facilities managed by CBRE Investment Management in Maryland. These projects, which provide renewable energy to residential customers and logistics tenants of CBRE Investment Management, are expected to generate savings for approximately 5,700 residential customers in Maryland.
CBRE Investment Management’s focus on clean electrification comes two years after the company adopted its logistics investor-developer-operator model that focuses on delivery across all aspects of a assets, from investment to user experience. With this in mind, the company created an industry-specific global logistics team in June 2021 to enhance and better align its expertise across the industry. Since then, CBRE Investment Management’s direct logistics assets under management have grown more than 34%, from $22.5 billion to $30.2 billion, while the company’s comprehensive portfolio of real assets s now stands at a record high of $146.9 billion.
Earlier this year, Trammell Crow Company, another CBRE subsidiary, announced a strategic partnership to bring Altus Power’s clean energy solutions to 35 million square feet of industrial assets in CBRE’s U.S. real estate development pipeline. the company.
About CBRE Investment Management
CBRE Investment Management is a leading global real-asset investment management firm with $146.9 billion in assets under management* as of June 30, 2022, operating in more than 30 offices and 20 countries around the world . Through its investor-operator culture, the firm seeks to provide sustainable investment solutions across real asset classes, geographies, risk profiles and execution formats so that its clients, associates and its communities thrive.
CBRE Investment Management is an independent affiliate of CBRE Group, Inc. (NYSE: CBRE), the world’s largest commercial real estate investment and services company (based on 2021 revenues). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management leverages CBRE’s market data and information, investment research and other resources for the benefit of its clients. For more information, visit www.cbreim.com.
*Assets Under Management (AUM) refers to the fair market value of investments linked to the real assets for which CBRE Investment Management provides, on a global basis, supervision, investment management services and other advice and which generally consist of investments in real assets. ; participation in funds and joint ventures; securities portfolios; operating companies and loans related to real estate assets. This AUM is primarily intended to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from other asset managers’ calculations and its calculation of regulatory assets. under management for certain regulatory filings. .