LivCor Taps Banyan Water to Reduce Irrigation Water Usage by 50% on 12 Texas Multi-Family Properties

AUSTIN, Texas--(BUSINESS WIRE)--

LivCor, LLC, a portfolio company of global asset manager Blackstone, recently engaged Austin-based smart water management company, Banyan Water to deploy Banyan's Smart Irrigation solution across 12 of LivCor's multi-family properties in Dallas-Fort Worth, Houston and Austin 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 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. For more information, visit www.livcor.com.

About Banyan Water

Founded in 2011, Banyan Water provides smart water management as a service for commercial and institutional businesses using real-time technologies and related services to save money and enhance properties. Banyan Water believes that better water management is not just a key source of profit for clients, but a requirement in meeting the needs of our growing population. The company helps businesses find and maintain water savings opportunities throughout their portfolios. In 2014, Banyan Water reached a new milestone by saving 1.25 billion gallons of water for its clients—enough to supply 160,000 homes for a month. For more information, visit www.banyanwater.com.

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