LivCor Taps Banyan Water to Reduce Water Use

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LivCor Taps Banyan Water to Reduce Water Use

Portfolio Company of Global Asset Manager Blackstone Engaged Austin-based Smart Water Management Company to Deploy Banyan's Smart Irrigation Solution in an Effort to Reduce Unnecessary Use of Irrigation Water

LivCor's use of Banyan's Smart Irrigation solution is projected to achieve 50-60% in irrigated water savings across the portfolio of multi-family properties - amounting to millions of gallons of water saved each year. Banyan's Smart Irrigation solution begins with a baseline assessment of water usage. Using real-time visibility around water use, opportunities for efficiency improvements are identified and then addressed. Ongoing monitoring, reporting and management help ensure continued water efficiency and cost savings. Banyan and LivCor are currently assessing opportunities to expand the use of these technologies for properties in North Carolina, Georgia and Colorado.

"Persistent drought and rising water rates highlight a need for water sustainability solutions in Texas and across the United States." said Ralph Pickett, CEO and President of LivCor. "Working with Banyan will not only help us to do our part in reducing our irrigation water usage but also allow us to reduce costs."

"We are proud to add LivCor to our growing portfolio of customers," said Gillan Taddune, CEO of Banyan Water. "Taking a technology-based and proactive approach to addressing the water crisis is truly commendable and we look forward to helping LivCor save millions of gallons of water over the next several years."

About LivCor, LLC.

LivCor is a real estate asset management firm headquartered in Chicago, Illinois. Formed in 2013 as a portfolio company of The Blackstone Group (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.

Source: Business Wire

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