RealFoundations signs five-year utility management contract with leading commercial property owner
Clients RealFoundations Inc.
Jones Day represented RealFoundations Inc., a leading real estate technology consulting company, in negotiating a five-year utility management agreement with the owner of more than 70 shopping mall properties across the U.S. The agreement provides for a broad range of utility management technology and services, including implementation of an energy management system connecting and coordinating property automation systems, real-time analysis and management of water, electricity and gas usage at property and enterprise levels, and the development and execution of long-term load management and load shedding initiatives. The strategy projects an estimated saving of $11 million over ten years in utility cost savings with a 37% return on investment. The firm also represented the company in negotiating supporting technology licenses with a developer of utility management technologies and an agreement with a hosting services provider.