Electric vehicle charging stations to be
installed at 82 multi-family properties
ATLANTA, Oct. 4, 2022
/PRNewswire/ -- Atlanta-based
electric vehicle (EV) charging company EnviroSpark has partnered
with private investment firm Starwood Capital Group in a
multi-million-dollar deal. This deal will bring over 400 charging
stations to more than 80 multi-family home properties owned by
Starwood Capital across the nation.
Chargers will be delivered and installed in the next six-to-12
months, expanding EV access to over 55,000 consumers across 12
states, in the largest deal of its kind for a single owner of
multi-family properties.
"We're so excited to partner with the industry leaders in real
estate at Starwood Capital Group," EnviroSpark CEO and Co-founder
Aaron Luque said. "Multi-family
properties are the next step for building out EV infrastructure and
making the shift to electric practical for most consumers. There's
nothing more convenient than coming home after a long day at work,
plugging in, and waking up with a full tank. EnviroSpark is proud
to be leading the charge in this lane."
Multi-family properties have traditionally been underserved in
favor of route enablement and fleet service. EnviroSpark sees
outsized benefits by installing charging stations in multi-family
properties because EV drivers can fuel up at home instead of
sitting at a public location. Starwood Capital sees the partnership
as a way to attract and retain residents while building an
environmentally sustainable community.
As EnviroSpark's largest multi-family partnership to-date, the
deal with Starwood Capital adds to a long list of partnerships,
including the installation of thousands of chargers for Tesla,
Electrify America and Georgia Power. The installation of 400
chargers at Starwood Capital's properties follows a concerted
effort by EnviroSpark's leadership to create growth in niche
markets inside a booming industry.
Since its founding in 2014, EnviroSpark has been dedicated to
expanding EV accessibility and increasing adoption by building
chargers where people want to charge and prides itself on providing
turnkey solutions that fit the specific needs of their
customers.
Radial Power is managing the project for Starwood Capital.
About EnviroSpark
Founded in 2014, EnviroSpark is an industry leader in the
turnkey design, installation, and operation of EV charging
solutions. The company was founded with two missions: to raise
awareness of the benefits of electric vehicles and to increase the
availability of EV charging infrastructure. The company is
responsible for the installation of more than 5,500 charging ports
to date. EnviroSpark addresses the pain points of property owners
and drivers from coast to coast by enhancing EV accessibility in a
customer-friendly way.
About Starwood Capital
Group
Starwood Capital Group is a private investment firm with a core
focus on global real estate, energy infrastructure and oil &
gas. The Firm and its affiliates maintain 16 offices in seven
countries around the world, and currently have approximately 4,500
employees. Since its inception in 1991, Starwood Capital Group has
raised over $70 billion of capital,
and currently has over $120 billion
of assets under management. Through a series of comingled
opportunity funds and Starwood Real Estate Income Trust, Inc.
(SREIT), a non-listed REIT, the Firm has invested in virtually
every category of real estate on a global basis, opportunistically
shifting asset classes, geographies and positions in the capital
stack as it perceives risk/reward dynamics to be evolving. Starwood
Capital also manages Starwood Property Trust (NYSE: STWD), the
largest commercial mortgage real estate investment trust in
the United States, which has
successfully deployed over $91
billion of capital since inception and manages a portfolio
of $27 billion across debt and equity
investments. Over the past 30 years, Starwood Capital Group and its
affiliates have successfully executed an investment strategy that
involves building enterprises in both the private and public
markets. Additional information can be found at
starwoodcapital.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/envirospark-signs-nationwide-deal-with-starwood-capital-group-301640584.html
SOURCE EnviroSpark