DIAMOND PROPERTIES & SAFARI ENERGY COMMISSION THE LARGEST SOLAR POWER ROOFTOP ARRAY IN WESTCHESTER COUNTY

Well known for its environmental stewardship and commitment to achieving high tenant satisfaction, Diamond Properties, a leading real estate investment company, has energized a solar array consisting of more than 7,602 panels on its headquarters and flagship property on 333 North Bedford Road in Mount Kisco, NY.

At 1.9 megawatts, it stands as the largest commercial rooftop solar system in Westchester County, powering more than 70 percent of six tenants’ electricity needs while lowering operating costs. Diamond Properties has successfully executed an aggressive strategy to lower costs utilizing green energy solutions, in order to deliver outstanding value to its tenants and investors, while significantly reducing its carbon footprint.

“The Park at Mt. Kisco includes over a 574,000 square feet of premium office, retail and industrial space, and we are happy to report that it now has both lower operating costs and a reduced carbon footprint.” said Jim Diamond, Managing Member of Diamond Properties. “Ninety percent of Grand Prix New York’s power is coming from solar arrays, as is 85 percent of the power going into the Saw Mill East health club.”

Diamond Properties now has seven megawatts of solar power on a total of seven of its 37 properties in New York and Connecticut, with solar panels either installed or in the process of becoming operational. The remaining properties are being evaluated as possible sites for solar panels.

“Diamond Properties has done a remarkable job of reimagining and redeveloping The Park at Mt. Kisco into the premier mixed use, entertainment asset in the region,” said Matthew Rudey, CEO of Safari Energy. “Safari was thrilled to play a role in this exciting project and working with the Diamond team is a pleasure. Being able to contribute to Diamond’s well established commitment to the environment was important to us and we look forward to continuing our solar partnership in 2015 and beyond.”

“As a member of the community and one who frequents The Park at Mt. Kisco with my family, I am proud to have been involved in one of the area’s most important sustainability projects. Critical to the project was the coordination between Diamond, its tenants, M&T Bank, the New York State Energy Research and Development Authority (NYSERDA), Con Edison and local building authorities. This project could not have been completed without the hard work of all involved.” said John Lind, SVP of Safari Energy.

“There are a number of financing options available for important energy-efficiency projects like the solar rooftop being installed at the Park at Mount Kisco. By bringing in the specialists in our Commercial Equipment Finance division, we were able to properly structure the financing so Diamond Properties could complete this project that will benefit our entire community,” said Michael Weinstock, Group Vice President for commercial real estate at M&T Bank in Westchester County.

Mt. Kisco Mayor J. Michael Cindrich has been involved with the property, the site of the former Grand Union warehouse, from the inception.

“As far as the solar energy, it’s really more than just environmental,” Cindrich has said. “It’s really cutting edge stuff that is going to make our entire community a better place. You have to have a vision for the future because the initial investment doesn’t pay off quick, but what Diamond Properties is doing is investing in the future.”

Dani Glaser, a Program Director for the Westchester Green Business Challenge, said Diamond Properties has demonstrated a high level of commitment to green business practices and has been honored by the organization every year since the challenge began three years ago.

“Diamond Properties is embracing environmental sustainability in a very holistic way, and the solar panels are just a part of their path,” Glaser said. “They are addressing energy, waste and transportation, purchasing, and they are a great role model and example of how to incorporate sustainable business practices into all areas of operation.”

Support for this project came from Governor Cuomo’s NY-Sun initiative, which is administered by NYSERDA. NY-Sun is a $1 billion initiative to advance the scale-up of solar and move the state closer to having a sustainable, self-sufficient solar industry.

“Through the NY-Sun program, we have seen tremendous growth in solar power in New York, which is helping to further Governor Cuomo’s goals of a cleaner, more reliable and more affordable energy system,” said John B. Rhodes, President and CEO, NYSERDA. “Diamond Properties has invested in one of the largest solar projects in New York State, and one that will serve as an example to others.”

Diamond selected Safari Energy for its portfolio development, financing, design, and construction expertise and Safari’s position as the leading provider of solar services to large portfolio commercial real estate owners. The company was responsible for all aspects of project development, installation and will provide ongoing system operations and maintenance services.

Carlos Floresguerra, Vice President of Project Development for Safari Energy, LLC., said Diamond Properties is among the early adopters of many cost-saving energy efficiency and renewable technology programs.

“These initiatives not only benefit the company’s tenants and local community, but make a powerful statement in support of sustainability and help propel New York upwards in the national solar rankings,” Floresguerra said. “It is a pleasure to work with a truly environmentally-minded company and leadership team.”

Diamond Properties is commercial real estate business located in Mount Kisco, New York that focuses on the acquisition of commercial properties with potential for substantial improvement through hands-on property management, market repositioning, and capital upgrades. Since Diamond Properties was founded in 1993, they’ve acquired 58 properties, including office, warehouse, retail, residential, and land in 5 states, and they currently own 44 of those properties, totaling in excess of 3,700,000 square feet. They continue to pursue an intense capital improvement and leasing program that, when combined with quality-driven customer service, has enabled them to deliver consistently high tenant satisfaction and lease renewal rates. For more information about Diamond Properties, visit their website at http://www.diamondproperties.com. For information on current space availabilities, call Mark Blandford at 914-773-6242 or email mblan@dpmgt.com.

Founded in 2008, Safari Energy is the leading provider of solar energy solutions to large commercial real estate owners and users. Focused on REITs and their tenants, Safari employs real estate, solar and financial expertise which enabled it to become the number one solar provider in this market segment. Safari delivers an integrated, turnkey solution that comprises origination, development, construction and financing from its proprietary operating platform. Safari’s platform enables a higher quality solution at a lower cost allowing our clients, who own and operate more than $100B of commercial real estate in the United States, to easily and effectively deploy solar across their portfolios. More information about the company can be found at www.safarienergy.com.

M&T is a financial holding company headquartered in Buffalo, N.Y. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank. More information about the company can be found at www.mtb.com.

Photos

1. Left to right: Carlos Floresguerra|VP Project Development, Safari Energy, LLC; Jana Petrikova, Program Director, Westchester Green Business Challenge; Mark E. Blandford, Senior Vice President, Diamond Properties; J. Michael Cindrich, Mayor, Mount Kisco, NY; Jim Diamond, Managing Member, Diamond Properties; Alan Cole, District 2, Westchester County Board of Legislators; Bill Diamond, Managing Member, Diamond Properties; Dani Glaser, Founder, Co-Director, Westchester Green Business Challenge; Ron Roth, SVP Property Management, Finance and Acquisitions, Diamond Properties.
   
   
2. Left to right: Carlos Floresguerra|VP Project Development, Safari Energy, LLC; Jana Petrikova, Program Director, Westchester Green Business Challenge; Mark E. Blandford, Senior Vice President, Diamond Properties; J. Michael Cindrich, Mayor, Mount Kisco, NY; Jim Diamond, Managing Member, Diamond Properties; Alan Cole, District 2, Westchester County Board of Legislators; Bill Diamond, Managing Member, Diamond Properties; Dani Glaser, Founder, Co-Director, Westchester Green Business Challenge; Ron Roth, SVP Property Management, Finance and Acquisitions, Diamond Properties.
   
   
3. Aerial view of Diamond Properties solar panels at 333 North Bedford Road, Mount Kisco, NY.