(972) 239-3200 Ext. 302
For Immediate Release
May 12, 2009
NOI Engineering Announces Energy and Sustainability Due Diligence™ Services
NOI Engineering today announced availability of their Energy and Sustainability Due Diligence™ services. Driven by client needs as well as past and forecasted trends, NOI has leveraged their broad engineering backgrounds relating to commercial properties and developed a line of services tailored to all aspects of the real estate transaction and hold cycle.
“Energy and Sustainability Due Diligence™ can be viewed in a variety of ways, from Risk Management to Asset Optimization.” says Robert Watson, PE, of NOI Engineering. “Clearly the market has shifted and the commercial real estate community must be presented with more options than are currently available from professional service providers.”
From pending legislation just introduced by New York Mayor Michael Bloomberg to that already handed down in California and Washington, D.C., or to simply having a desire to increase asset performance, “Combined with our traditional due diligence services, we envision Energy and Sustainability Due Diligence™ being integral with acquisition analysis and underwriting, whether viewed from a risk management perspective or capitalizing on unrealized building efficiencies.”
“If one were hard pressed to define Energy and Sustainability Due Diligence™, I would have to respond with ‘Consulting and technical services in the field of real estate as it relates to the environmental impact of building ownership, management, and operations; risk management, sustainability, energy consumption, carbon emissions/footprint, and property value; namely, for the purposes of real estate acquisition, disposition, adherence to regulations and standards, increasing property value, management cost reduction, tenant demand and retention, energy conservation, and general asset performance.’ I admit, this is a bit much to absorb so abbreviating to Risk Management and Asset Optimization services just has a better ring.” Mr. Watson said lightheartedly.
Comprised of technically oriented service offerings such as Energy and Sustainability Assessments, which contain the core offerings of retro-commissioning, energy audits, and HVAC optimization, Energy and Sustainability Due Diligence™ can also yield important data regarding the feasibility of pursuing Energy Star, LEED, and Green Globes certification. “Our clients find feasibility analyses invaluable in their underwriting process. After all, armed with information disclosing a potential opportunity not readily identifiable in a new asset can be leveraged to gain widely recognized and accepted banners of accomplishment such as Energy Star certification. Many of the deficiencies that lend themselves to asset optimization can be harvested at low to modest costs such as recalibrating fresh air dampers.” Mr. Watson adds, “Savings in monthly utility bills are nice, but ultimately increasing the property value at disposition is where the true value is.”
Although originally envisioned as a tandem service to traditional commercial real estate acquisition due diligence such as Property Condition and Phase I Environmental Site Assessments, Energy and Sustainability Due Diligence™ is not relegated to acquisitions only as Mr. Watson explains, “Asset and Property Managers are looking to optimize their existing portfolio and any of these services can be tailored to suit their specific property needs.”
Notable offerings include Forensic Energy Analysis that targets why one property demands more in utility expenditures than other comparables. Leveraging utility and government incentives by way of Renewable Energy Feasibility Studies is another.
Further information about NOI Engineering can be found on their website at www.noi-engineering.com.
About NOI Engineering
NOI Engineering is primarily focused on adding value to our client’s “bottom-line”, whether economic, environmental, or social, and is substantially different than typical engineering firms providing traditional acquisition/due diligence services. Namely, NOI’s initiative has been tailored to assist building owners, managers, and lenders to understand the ramifications of “green” or “sustainable” building design or retrofit features (or the lack thereof). Particularly, NOI is able to leverage the property’s existing systems by profiling historic energy demands to optimize building operations and ultimately the property value at disposition. NOI’s team possesses a variety of professional accreditations including licensed Professional Engineers, Certified LEED Accredited Professionals, and Green Building Engineers, to name only a few. NOI Engineering has trademarked the term “Energy and Sustainability Due Diligence” in effort to entrench our interest in this pursuit but also distinguish our services from that of other firms. While we do offer and provide traditional services (such as Property Condition and Environmental Site Assessments) NOI Engineering is best viewed by our “bottom-line” approach to client needs, as our company name suggests.