"Green" has been the buzzword of corporate America in 2007. Green initiatives, including energy efficiency, have long been one of the cornerstones of Los Angeles-based Arden Realty. The company was cited three times by the Environmental Protection Agency as the "Commercial Real Estate Owner of the Year" for its innovative energy initiatives and for owning the most energy efficient buildings in a single portfolio in the United States.
That attention to conservation made it an attractive buy for GE Real Estate beyond simply the physical portfolio.
According to data taken from the EPA Star Statement of Performance, from 1998-2006 Arden reduced 333 million kWh of electric energy consumption for a savings of $41.5 million. In 2006 alone, the company reduced more than 72 million kWh of electric energy consumption for a savings of more than $10.5 million. Also in 2006, Arden reduced more than 100 million pounds of CO2 emissions as compared to the industry average.
"GE is a global leader that blends innovative energy and environmental initiatives with efficient business practices through its Ecomagination initiative," says first vice president of operations, Scott Lyle. "This is another example of how our cultures truly compliment each other."
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