Unlike landlords that have chosen to undertake energy reduction efforts in-house, NYSE-listed REIT Essential Properties Realty Trust (EPRT) has opted for the Energy-Efficiency-as-a-Service (EEaaS) model to reduce its carbon footprint and attain its sustainability goals.

The REIT, which has a portfolio of 1545 commercial assets in 46 US states, recently announced a partnership with EEaaS provider Budderfly to deploy sustainability upgrades across its portfolio.

Examples of upgrades that will be undertaken at the REIT’s assets include the installation of LED lighting and lighting controls, higher efficiency heating, ventilation, and air conditioning (HVAC) units, and solar power solutions.

These enhancements are estimated to reduce the carbon footprint of the REIT’s upgraded properties by up to 30%, said EPRT in its statement, adding that its tenants will see an immediate reduction in their monthly utility costs.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.