How LivCor increased their net operating income across their portfolio with smart water management solutions.
2 year
expected payback
over 100
million dollars
in net asset value creation
1.2 billion
gallons saved
2 year
expected payback
over 100
million dollars
in net asset value creation
1.2 billion
gallons saved
LivCor, LLC is a real estate asset management firm formed in 2013 as a portfolio company of Blackstone
As a hands-on asset manager of multifamily properties, LivCor looks to Banyan Water to deploy smart water management solutions that increase net operating income across its portfolio of properties while maintaining its beautiful landscapes.
“We’re always looking for ways to improve our properties and our bottom line. Water efficiency is a great way to simultaneously add value for our investors and our residents, and Banyan’s solutions accomplish that and more.”
Ralph Pickett
Former President and CEO of LivCor
Portfolio
- Industry: Real estate asset management
- Locations: Texas, Tennessee, California, Colorado, North Carolina, Washington, Kentucky, Oregon, Arizona, and Nevada
- Active Properties: 38
- Water Managed: 288 Million Kgals
- Leaks Detected: 256
With over one hundred Class A and B multifamily properties throughout the United States, LivCor closely manages its portfolio to maximize return for investors while offering best-in-class service to residents.
Since water has become the fastest rising utility cost in the United States, it has also become a potential expense liability. Without adequate oversight, water can easily become a significant and unpredictable operating expense.
Instead of simply providing irrigation hardware, Banyan provides water management as a service to the LivCor portfolio.
By working with Banyan, LivCor has created a consistent water management strategy that stabilizes their water budget with accurate forecasting. As LivCor adds properties to their portfolio, water conservation opportunities can be factored into decision-making to more clearly understand investment opportunities.
Banyan Water Central, a proprietary web platform, and on-the-ground monitoring and control hardware dramatically reduces irrigation water use by:
Watering the landscape of a property only when necessary
Quickly pinpointing and resolving water wasting system issues
Providing full transparency through regular performance reports
The system has also saved over 1.2 billion gallons of water in 2023, and demonstrated a strong return on investment
To date, Banyan Water has deployed its Smart Irrigation solution to thirty-eight of LivCor’s properties in Texas, California, North Carolina, Washington, Oregon, Arizona Tennessee, Kentucky, Colorado, and Nevada to reduce unnecessary use of irrigation water.
In addition to the savings realized by water use reductions, increases in net operating income and asset value support LivCor’s mission in those areas .
Banyan’s Irrigation Insight solution has provided benefits throughout the LivCor portfolio. Executive users are able to understand water-use across their portfolio and easily prioritize properties in need of water-saving improvements.
Reduce Your Water Consumption, While Maintaining Beautiful Landscapes
