PRG Real Estate Selects American Utility Management to Provide Complete Energy and Utility Management Services
Energy management solutions to improve net operating income to 14,000 multifamily housing units
PHILADELPHIA and LOMBARD, Ill., July 19, 2012 /PRNewswire/ -- PRG Real Estate (PRG) today announced its selection of American Utility Management, Inc. (AUM) as its partner to provide complete energy and utility management services to its portfolio of over 14,000 apartment units throughout the eastern United States. Under the terms of the partnership, AUM will provide PRG with energy consulting and advisory services through its energy management, invoice processing, and resident services products.
"PRG has achieved tremendous growth through a simple, focused formula," states Sam Foster, chief operating officer of PRG. "A key attribute to this formula is the selection of partners to help us manage our properties for maximum operational performance. In partnering with AUM, we now have the multifamily industry's foremost energy management experts to look out for our bottom line. From our first meeting, through the implementation process, and now ongoing, AUM has consistently shown expertise and execution on its delivery of energy management services for our properties"
Utility and energy expenses are the third-largest expenditure for multifamily property owners, and the ability to effectively manage this expense is critical to increase net operating income (NOI), a priority for every property owner. Annually, a 250-unit building can have average gas and electric expenses totaling $200,000.
"Since 1994, AUM's sole focus has been assisting multifamily property owners manage their energy and utility expenses," says Michael G. Miller, AUM chief executive officer. "Because of the unique pairing of common areas and residential unit space, the understanding of energy, its usage, and ways to manage it are complex. Our ability to gather the data off of a property's invoice, review that data, and provide meaningful information to property owners in a timely manner enable our multifamily property owners to take corrective action faster than anyone in the industry. That means real dollars dropping to the bottom line for them every day. We are excited to partner with PRG to be an integral part of their core property management objectives."
About PRG Real Estate Management:
Founded in 1985 by Steven Berger and Jon Goodman, PRG Real Estate Management is a Philadelphia-based real estate firm that acquires and manages quality apartment communities throughout the Eastern U.S. PRG has acquired over 50 communities and 14,000 apartment units in Pennsylvania, Ohio, Virginia, North and South Carolina, Tennessee, Kentucky and Florida. PRG has been designated as an Accredited Management Organization by the Institute of Real Estate Management. For more information, visit www.prgrealestate.com
Founded in 1994, American Utility Management (AUM) provides comprehensive energy services to the multifamily industry. The company prides itself on driving bottom line savings for its clients through its energy management, invoice processing, and resident services. AUM uses its proprietary technology and data to create custom energy solutions that allow multifamily management to lower their energy usage and save money. The company distinguishes itself through its knowledgeable and experienced professionals who provide all services in-house without outsourcing to other companies. AUM advises management of over 500,000 multifamily units across the U.S. For more information on AUM, please visit www.aum-inc.com or call 800-418-5393.
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