Constellation Helps Medical Office Buildings with Efficiency Made Easy
As a real estate portfolio management company that specializes in medical office buildings (MOB), Regent Medical Properties, LLC’s portfolio consists of facilities at various stages of efficiency. Of their 20 MOBs in New York and New Jersey, many sites were purchased or developed with the intent of turning them into full-service medical facilities, while other sites were either existing MOBs or new buildings. In order to help Regent bring all sites up to current medical and efficiency standards, a lot of work and capital was needed. Due to most of budgeted capital being directed toward core medical upgrades, there was little to no capital available for making additional efficiency and security enhancements.
Working together, Constellation’s energy market professionals were able to walk through the details of how the Efficiency Made Easy (EME) program could help Regent meet their efficiency and facility rehabilitation goals. The relationship with Constellation helped secure competitive electric rates to help power Regent’s much needed medical equipment and lighting. This relationship also allowed Regent to upgrade their facilities and provide an efficient and modern environment for their patients.
Regent Medical Properties, LLC’s facility
Alliance Partner Teamwork
Constellation often works with alliance partners like ECS Global to design and deliver intelligent building systems for efficiency projects. For this project, we teamed up with ECS to assess Regent’s needs and recommend upgrades. After speaking to the customer about the unique business needs associated with medical facilities and medical office buildings, we collectively came up with an efficiency and energy management strategy. Based on that plan, Regent signed a power contract that included EME. The EME program provided the capital needed to complete the company’s efficiency projects as soon as possible by building the cost into the customer’s electricity contract. ECS Global was then able to help us complete the projects for Regent’s various facilities.
To date, Regent expects to implement approximately $3.56 million in upgrades with no upfront capital thanks to EME. These upgrades include the funding of chiller and boiler upgrades, building automation systems updates, LED lighting upgrades, security and IT cabling installs—and more—at 9 of their 20 locations. From addressing power supply to how energy efficiency upgrades could be made with no upfront capital, we were happy to help our customer implement upgrades that initially seemed impossible. Shortly after the first EME deal closed, Regent requested that our EME team assist them with eight more facilities.
We look forward to continuing our work with Regent and ECS Global to help upgrade an additional 11 properties in the future. Find out more about how the EME program and alliance partners are working together to meet the growing needs of businesses with a variety of efficiency solutions at constellation.com/eme.