LOS ANGELES, Calif., (December 10, 2008) -Shangri-La Industries, LLC and Thompson National Properties, LLC, jointly announced today the formation of a $100 million fund, the TNP/SLI Green Building Fund. The objective of the TNP/SLI Green Building Fund is to invest in value-add commercial and industrial assets that can be retrofitted, repositioned or redeveloped as energy efficient and environmentally sustainable.
Properties selected by the TNP/SLI Green Building Fund for investment and sustainable development design build services will focus on buildings that will meet the U.S. Green Building Council's (USGBC) Leadership in Energy and Environmental Design (LEED) Certification criteria that will enhance the value, efficiency and marketability of these real estate assets.
In conjunction with the announcement of the $100 million TNP/SLI Green Building Fund, Shangri-La Industries' specialty unit, Shangri-La Construction, that offers sustainable design, consulting and construction management and services, unveiled the world's first Platinum LEED certified aviation hangar at Bob Hope Airport in Burbank, California.
"We are extremely pleased to be joining forces with Thompson National Properties to work with property owners to upgrade structures to feature intelligent design and sustainable features that can significantly lower operating costs while conserving natural resources," commented Andy Meyers, President, Shangri-La Industries. "All of the green features in Hangar 25 that can help businesses become more environmentally sustainable are directly transferable to commercial and institutional facilities such as offices, universities, warehousing and manufacturing."
Hangar 25, located at the Bob Hope Airport, features a solar-powered roof system that supplies 110% of all necessary power needs including clean powering of aircraft auxiliary power units in use while aircraft are on the ground, tow and maintenance vehicles and office operations. Surplus clean power is sent back to the municipal electric grid. Additional sustainable innovations that helped the facility earn platinum certification include a HI-FOG water-based fire suppression system, evaporative coolers and fans to manage temperature control, low-emitting materials and furnishings, low water plumbing fixtures and low water landscaping featuring native desert plants and no-mow, no-water Synlawn grass.
"In property development and management, 'green' facilities are very attractive to owners and tenants for multiple reasons, foremost being energy efficiency," said Tony Thompson, Chairman and CEO, Thompson National Properties. "We're proud to partner with Shangri-La Industries in the creation of the TNP/SLI Green Building Fund to provide capital to increase the use of sustainable development practices, and are confident that Shangri-La Construction's sustainable approach and expertise will contribute significant value to projects the fund pursues."
About Shangri-La Construction
Shangri-La Construction is a build design and consulting company that provides the construction expertise to encourage green building and retrofits done in a way that is both environmentally and economically sound. Shangri-La Construction's goal is to create the most sustainable, efficient buildings possible and to open the door to green construction in sectors that typically would not give it a second thought.
About Thompson National Properties
Thompson National Properties, LLC provides real estate investment opportunities and asset management to high net worth domestic, foreign, individual and institutional investors. As of October 31, 2008 Thompson National Properties has more than 8.5 million square feet of property under management. For more information regarding Thompson National Properties, please visit www.tnpre.com.
