Electric automobile charging stations to be put in at 82 multi-family properties
ATLANTA, Oct. 4, 2022 /PRNewswire/ — Atlanta-based electrical automobile (EV) charging firm EnviroSpark has partnered with non-public funding agency Starwood Capital Group in a multi-million-dollar deal. This deal will deliver over 400 charging stations to greater than 80 multi-family dwelling properties owned by Starwood Capital throughout the nation.
Chargers shall be delivered and put in within the subsequent six-to-12 months, increasing EV entry to over 55,000 customers throughout 12 states, within the largest deal of its sort for a single proprietor of multi-family properties.
“We’re so excited to partner with the industry leaders in real estate at Starwood Capital Group,” EnviroSpark CEO and Co-founder Aaron Luque mentioned. “Multi-family properties are the next step for building out EV infrastructure and making the shift to electric practical for most consumers. There’s nothing more convenient than coming home after a long day at work, plugging in, and waking up with a full tank. EnviroSpark is proud to be leading the charge in this lane.”
Multi-family properties have historically been underserved in favor of route enablement and fleet service. EnviroSpark sees outsized advantages by putting in charging stations in multi-family properties as a result of EV drivers can gasoline up at dwelling as an alternative of sitting at a public location. Starwood Capital sees the partnership as a strategy to appeal to and retain residents whereas constructing an environmentally sustainable group.
As EnviroSpark’s largest multi-family partnership to-date, the cope with Starwood Capital provides to a protracted listing of partnerships, together with the set up of hundreds of chargers for Tesla, Electrify America and Georgia Power. The set up of 400 chargers at Starwood Capital’s properties follows a concerted effort by EnviroSpark’s management to create progress in area of interest markets inside a booming business.
Since its founding in 2014, EnviroSpark has been devoted to increasing EV accessibility and growing adoption by constructing chargers the place individuals need to cost and prides itself on offering turnkey options that match the precise wants of their prospects.
Radial Power is managing the undertaking for Starwood Capital.
Founded in 2014, EnviroSpark is an business chief within the turnkey design, set up, and operation of EV charging options. The firm was based with two missions: to boost consciousness of the advantages of electrical autos and to extend the provision of EV charging infrastructure. The firm is liable for the set up of greater than 5,500 charging ports so far. EnviroSpark addresses the ache factors of property homeowners and drivers from coast to coast by enhancing EV accessibility in a customer-friendly method.
About Starwood Capital Group
Starwood Capital Group is a personal funding agency with a core give attention to international actual property, vitality infrastructure and oil & gasoline. The Firm and its associates keep 16 workplaces in seven international locations around the globe, and at the moment have roughly 4,500 workers. Since its inception in 1991, Starwood Capital Group has raised over $70 billion of capital, and at the moment has over $120 billion of belongings underneath administration. Through a sequence of comingled alternative funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in nearly each class of actual property on a world foundation, opportunistically shifting asset courses, geographies and positions within the capital stack because it perceives threat/reward dynamics to be evolving. Starwood Capital additionally manages Starwood Property Trust (NYSE: STWD), the biggest industrial mortgage actual property funding belief in the United States, which has efficiently deployed over $91 billion of capital since inception and manages a portfolio of $27 billion throughout debt and fairness investments. Over the previous 30 years, Starwood Capital Group and its associates have efficiently executed an funding technique that entails constructing enterprises in each the non-public and public markets. Additional data could be discovered at starwoodcapital.com.