CHICAGO and AUSTIN, Texas, July 14,
2015 /PRNewswire/ -- LivCor, LLC, a portfolio
company of global asset manager Blackstone (NYSE: BX), and Austin-based Banyan Water, a leader in
the emerging field of smart water management, have expanded their
partnership by deploying Banyan's Smart Irrigation solution at more
multi-family properties in several states, including
drought-plagued California.
Since the implementation of Banyan's water management solutions
at LivCor properties in Texas
began last year, LivCor has realized a savings of 42.8 million
gallons of water across a portfolio of multi-family communities --
the equivalent of a month's water supply for 3,565 households. With
the expanded deployment of the Smart Irrigation solution to six
additional properties in California, North
Carolina and Colorado,
LivCor is expected to achieve a savings of 75.8 million gallons of
water over the next year, averaging 4.5 million gallons per
property.
"LivCor takes a hands-on approach to asset management, and we
are focused on doing what's right for the environment and
the bottom line. After seeing the dramatic results of implementing
Banyan Water's Smart Irrigation solution in Texas, it makes sense to expand our water
conservation efforts, using the same water-saving technology, to
LivCor properties in other states, especially California, where the grip of the current
drought continues to tighten," said Ralph
Pickett, chief executive officer and president of LivCor.
"Banyan Water's solutions have not only helped reduce water use in
our portfolio of properties, but also have resulted in significant,
measurable cost savings."
Banyan Water provides full water management services to the
expanding portfolio of LivCor properties, incorporating real-time
water use data, a proprietary web platform and remote monitoring
and control capabilities. LivCor and Banyan Water are currently
assessing opportunities to expand the use of these technologies to
additional properties in other states, including Florida, Tennessee, Kentucky, Illinois, Massachusetts and Oregon.
"We are thrilled to expand our partnership with LivCor based on
the water and cost savings achieved to date," said Gillan Taddune, chief executive officer of
Banyan Water. "We believe that smart water technology is a key
solution for managing water resources under drought conditions. As
water continues to be one of the fastest growing utility costs, our
partnership with LivCor is a great example of how data-driven
technologies can create market-based solutions to our water
shortages without relying on utility restrictions."
About LivCor, LLC.
LivCor is a real estate asset management firm headquartered
in Chicago, Illinois. Formed in
2013 as a portfolio company of Blackstone (NYSE: BX), LivCor specializes in
hands-on asset management of multi-family properties throughout the
U.S. In collaboration with its operating partners, LivCor oversees
the management of its properties furthering a mission of maximizing
return for investors while offering best in class service to
residents. For more information, visit
www.livcor.com.
About Banyan Water
Founded in 2011, Banyan Water provides smart water management
as a service for commercial and institutional businesses using
real-time technologies and related services to save money and
enhance properties. Banyan Water believes that better water
management is not just a key source of profit for clients, but a
requirement in meeting the needs of our growing population. The
company helps businesses find and maintain water savings
opportunities throughout their portfolios. For more information,
visit www.banyanwater.com.
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SOURCE LivCor, LLC; Banyan Water