Real estate investment and management corporation extends partnership with an energy solution platform to enhance Intelligent Building Program
SANTA BARBARA, Calif., Nov. 30, 2020 – Full-service real estate company LBA Realty is continuing its portfolio-wide partnership with Yardi Pulse® as the company implements a Smart Building Program to enhance their sustainability strategy.
LBA and Yardi® conducted an initial proof of concept pilot at a single property. In January 2019, LBA Realty adopted a phased approach to roll out Meter Insights and Fault Detection to eleven office properties in four different states. Leveraging pulse modular capability, these initial solutions provide real-time electrical meter monitoring and analytics, as well as HVAC fault detection and diagnostics. This allows the LBA engineering team and Yardi’s consulting services to identify hidden performance issues including extended run time, overlap in HVAC mode conditions and an inefficient sequence of operations.
LBA now receives timely and accurate energy use data for 5.9M square feet of their office properties. Year-to-date, the program has resulted in energy use reduction of 16.2M kWh, which equates to savings at $0.32 per square foot.
After gathering quantifiable results, LBA is now entering the second phase of implementation, Pulse Building Optimization. “With Pulse Building Optimization representing our artificial intelligence software, we look forward to realizing our vision of bringing intelligent buildings to life,” said Perry Schonfeld, principal and chief operating officer of LBA.
“It is exciting to see the progress LBA Realty has made with a phased approach to implementation and the value of their incremental steps. We foresee continued success of LBA’s energy platform and growth of the Yardi-LBA partnership,” said Akshai Rao, vice president at Yardi.
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LBA is a real estate investment and management company with a portfolio of more than 64 million managed square feet across the United States. LBA’s national portfolio consists of office buildings primarily in the Western United States, as well as a national industrial/logistics portfolio. Headquartered in Irvine, California, LBA has regional offices across the country.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.