24th at Camelback I Achieves LEED Platinum Certification

(PHOENIX) — Hines, the international real estate firm, announced today that 24th at Camelback I has been certified Platinum under the U.S. Green Building Council’s LEED® for Existing Buildings: Operations & Maintenance (EBOM) Rating System. The property, owned by NYL and managed by Hines, first achieved LEED Gold in 2010. Today, 24th at Camelback I joins 24th at Camelback II as one of only two LEED Platinum-EBOM Certified office properties in the state.

24th at Camelback I is the first phase of a mixed-use master development located at the southwest corner of 24th street and Camelback Road in Phoenix’s Biltmore area. The property includes a 302,209-square-foot, eight-story office building and a six-level parking garage. Hines developed the property, which was completed in 2000. Hines sold 24th at Camelback in June of 2018 and continues to serve as property manager.

Some of the project highlights the team accomplished to achieve this prestigious certification include:

  • Reduced emissions from conventional commuting trips by 52%, which was attributed to the use of fuel-efficient vehicles by building occupants.
  • Reduced indoor plumbing water use by 30% compared to standard fixtures. New and existing high-efficiency fixtures reduce water usage by approximately 640,290 gallons per year.
  • Diverted 100% of durable goods waste. An electronics recycling event was held at the building for all building occupants resulting in a total of 3,299 pounds of office and home e-waste diverted from the landfill.
  • Purchased 57% sustainable cleaning products during the performance period. Sustainable purchases included Green Seal®-certified cleaning chemicals, as well as paper products with recycled content.

In addition to earning LEED Platinum, the building has also been previously recognized with other awards and certifications for achievements in architecture and sustainability including earning the ENERGY STAR label 15 times since 2002 and achieving the designation of Wired Certified Gold.

Hines general property manager Bill Marek, added, “Hines has a long-standing commitment as an industry leader in sustainable, high-performance real estate and this Platinum certification for 24th at Camelback I represents that. Achieving the highest level of LEED Existing Building certification was truly a team effort where property manager, Emily Albaugh was relentless in orchestrating this pursuit in exemplary fashion and which could not have been possible without the overwhelming support and contributions by the tenants at 24th and Camelback I.”

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

About New York Life Real Estate Investors

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors’ website at http://www.newyorklife.com/realestateinvestorsfor more information.

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. With over $51.9 billion in assets under management as of June 30, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

*Real Estate Investors AUM of $51.9B is gross and includes AUA ($1.6B), and debt ($0.3B) as of 6/30/18. Net AUM for Real Estate Investors is $50.0B as of 6/30/18.