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May 2, 2024

Renfrew Centre Receives Zero Carbon Certification

Epic Investment Services (Epic), on behalf of its client, Alberta Investment Management Corporation (AIMCo), is pleased to share that Renfrew Centre in Vancouver, BC has achieved the Zero Carbon Building – Performance Standard™ (ZCB-Performance) certification from Canada Green Building Council (CAGBC). This significant accomplishment is the first for Epic’s property-managed portfolio.

The 170,551 sq.ft., 7-story office building was built in 2016 to LEED Core & Shell Gold Standard. It features a fully electric HVAC system, which relies on variable refrigerant flow heat pump units with heat recovery and an advanced control system. To enhance energy efficiency, Epic converted the majority of the interior and exterior lighting to LEDs in 2021, reducing electricity use from lighting by 55%. Additional operating measures were put in place to optimize the performance of the building and contribute to energy consumption reduction efforts.

Epic partnered with Dialog to pursue the ZCB-Performance certification. Their review included industry benchmarking and found that Renfrew Centre performed better than comparable buildings in the market:

• 31% lower energy use intensity
• 80% lower greenhouse gas intensity

In addition to operational improvements, achieving ZCB-Performance certification required offsetting residual emissions from the electricity grid through the Cheakamus Community Forest Project near Whistler, BC.

“We are committed to reducing carbon emissions from the properties we manage,” said Laetitia Pacaud, Managing Partner, COO and CFO. “We work with our partners and clients to align on decarbonization and building optimization goals, and we are proud of the results—like this certification for Renfrew Centre.”

Epic’s dedication to sustainability is evident in its focus on energy reductions through both operational and capital investment initiatives. Since the inception of its sustainability program, 95% of the properties under Epic’s management have achieved certification for the quality of building performance and environmental impact.

Epic continues to collaborate with clients and industry leaders to further enhance environmental performance and decarbonization efforts throughout its portfolio.

About Epic Investment Services

Epic is a fully integrated real estate management platform providing asset, investment, and property management services to institutional, wealth managers, and high-net-worth investors. Headquartered in Toronto, Canada, Epic has over $13 billion in assets under management across Canada and the U.S. comprised of 22 million square feet of office, retail, industrial, and multi-family residential properties.

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