Creating Long-Term Property Value
ADDED PROPERTY VALUE$4,889,000
FIRST YEAR OWNER SAVINGS$244,000
Southern California | As a value-add apartment investment and management firm, MG Properties Group (MGPG) saw an opportunity across its portfolio to increase cash flow by reducing water and energy expenses. However, the firm did not have the resources internally to become experts in energy and water analytics, incentives, and retrofit implementation.
Bright Power worked with MGPG to develop a tailored strategy: analyze utility data, recommend effective upgrades, target select properties for immediate high ROI retrofit opportunities, source local incentives, and implement eight efficiency measures across 12 properties in Southern California representing over 3,100 apartment homes. The retrofit will benefit the residents with improved interior lighting, more brightly lit exterior common areas, and reduced electricity and water bills. By leveraging economies of scale, the twelve-property retrofit project achieves MGPG’s goals in the most cost-effective way.
Owner: MG Properties Group
- Installed Domestic Hot Water (DHW) re-circulation flow control
- Insulated Domestic Hot Water (DHW) pipes
- Retrofitted common-area and exterior lighting with LEDs
- Replaced apartment-unit lighting with LEDs
- Installed Variable Speed Drive (VFD) pool and spa pumps
- Upgraded to ENERGY STAR washers in common area laundry room
- Installed low-flow faucet aerators in apartment units
- Installed efficient shower heads in apartment units