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Stolatis: “Benchmarking your energy performance is critical. If you’re not ready to do that, you’re not ready for retrofit.”

NEW YORK—From assembling funds to lack of expertise with all building-system upgrades to getting owner buy-in, the challenges asset managers face during sustainability efforts like deep energy retrofits are many. GlobeSt.com spoke with two experts from IREM on how to meet these challenges and avoid common pitfalls.

“I could write a book just on the challenges,” says Nick Stolatis, senior executive, asset management and sustainability, for EPN Real Estate Services Inc. and past president and current treasurer of the Greater New York Chapter of IREM. “Many people find that assembling the funds represents a major challenge. Deep-energy retrofits imply capital, and managers are often faced with limited funds, so there may not be sufficient capital.”

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