04/16/2014 | By Sarah Borchersen-Keto
Four REITs have been named 2014 ENERGY STAR award winners by the Environmental Protection Agency (EPA) and the Department of Energy.
ENERGY STAR was introduced by the EPA in 1992 as a voluntary, market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. The 2014 award winners include Liberty Property Trust (NYSE: LRY), Brandywine Realty Trust (NYSE: BDN), Vornado Realty Trust (NYSE: VNO) and Kilroy Realty Corp. (NYSE: KRC).
Liberty was named a Partner of the Year for Sustained Excellence, the highest honor given by the program.
“Receiving the Sustained Excellence award is a wonderful confirmation of what hundreds of our tenants already know: Sustainable design and property management save measurable amounts of energy, which translates into measurable savings on their bottom lines,” said Marla Thalheimer, director of sustainability for Liberty.
Brandywine Realty was recognized for the second consecutive year as an ENERGY STAR Partner of the Year. EPA deputy administrator Bob Perciasepe noted that “Brandywine Realty Trust’s leadership in energy management supports the well-being of American families and businesses while also fighting climate change.”
Kilroy and Vornado were each designated as an ENERGY STAR Partner of the Year as well.
Hines, a privately owned, international real estate firm, also received the Partner of the Year for Sustained Excellence award. This marks the tenth time that Hines has been recognized by the EPA and the seventh time it has received the Sustained Excellence award.
Hines president and CEO Jeffrey Hines said the company uses ENERGY STAR in tandem with its proprietary building management tools “to support our engineering efforts to maximize performance, minimize risk and preserve long-term value.”