Beacon Capital Partners, formed in 1998, traces its history over 65 years of developing, owning, and operating real estate. Beacon's current portfolio consists of approximately 30 million square feet of office real estate, with total assets in excess of $15 billion. The Beacon approach for investing in real estate is built on the ability to foresee opportunities and the practical knowledge to turn those opportunities into results. Their commitment to sustainability and the efficient use of natural resources spurs from this foundation. Beacon's corporate sustainability initiative is structured to enhance the company's practices of environmental sustainability by reducing energy use and greenhouse gas emissions. Beacon aims to achieve these goals by implementing comprehensive energy conservation programs, achieving ENERGY STAR certification for 100% of its eligible properties, providing "green provisions" in tenant leases that result in improved building operation, and sharing sustainability goals and performance results with tenants on an ongoing basis. Beacon utilizes ENERGY STAR resources and Portfolio Manager scores are an integral part of these strategies.
Beacon has received the ENERGY STAR Top Performer recognition, and has reduced energy use in its portfolio by more than 20% and currently has an average portfolio-wide score of 83 across its US portfolio. At the end of 2011, Beacon had achieved an ENERGY STAR certification for 86% of properties in the US portfolio. According to Jerome Montrone of Beacon, Whether Beacon initially developed a property as an energy efficient asset or worked to transform an asset into a top energy performer, building tenants are rewarded with a better infrastructure, enhanced control of indoor climate conditions, more efficient use of energy and water resources, and more consistent operating expenses. Beacon has established a proprietary Energy Efficiency Program that is implemented at each property and monitored on an ongoing basis. The program relies upon constant energy use monitoring as well as benchmarking data dependent upon the ENERGY STAR Portfolio Manager tool. A dedicated Energy Team meets with property managers, chief engineers and tenants in buildings across Beacon's diverse portfolio to engage them in the implementation of the program and to demonstrate its successes. This perspective on energy efficiency translates into a powerful management strategy that can be easily applied to new investments, transforming buildings in the market and consistently reducing energy use across the portfolio.