USAA Real Estate Company, a wholly owned indirect subsidiary of the United Services Automobile Association (USAA), manages more than $7 billion in assets and provides co-investment, acquisition, build-to-suit, and development services for corporate and institutional investors. The corporate Strategic Energy Management Plan, which is consistent with the ENERGY STAR Guidelines for Energy Management, is focused on USAA becoming more energy efficient as a way to control costs, improve comfort levels for tenants and employees, and increase real estate asset values. Through ENERGY STAR and a better understanding of the environmental benefits, we also have come to understand that the program is consistent with our core culture and "the right thing to do" in terms of demonstrating corporate social responsibility. In 2011, USAA earned its 9th straight ENERGY STAR Partner of the Year recognition for Sustained Excellence in energy management. The entire portfolio of office, hotel, and multifamily properties has been benchmarked using EPA's ENERGY STAR measurement and tracking tool, Portfolio Manager, and 92 percent of the office building portfolio has an ENERGY STAR score of 75 or higher.
In 2011, USAA Real Estate Company achieved recognition from EPA as an ENERGY STAR Leader for improving its energy efficiency by more than 10 percent over its baseline and as an ENERGY STAR Top Performer for achieving a portfolio-wide average ENERGY STAR score of 89. The company previously received recognition as a Top Performer in 2004, demonstrating USAA's continued dedication to superior energy performance. In 2010, our goal of 5 percent energy and water savings was exceeded by saving 5.22 percent on energy and 17 percent on water portfolio-wide, resulting in a cost savings of $733,000. Over the past year, average source energy intensity was reduced by 22 percent with the average site energy intensity down by 20.7 percent. Over $1 million in capital dollars were invested to upgrade energy management systems, perform lighting retrofits, install variable speed drives on motors, and install energy-efficient boilers. In addition, continuous commissioning was made part of the Yardi Preventative Maintenance platform that contributed greatly to the reduction in energy consumption.