Since 2009, the fully integrated investment firm Castellan Real Estate Partners has completed more than $750 million worth of debt and equity transactions. Castellan Real Estate Partners maintains a strong commitment to green development of its real estate portfolio and hired a third-party company to complete an energy audit of its properties. Since then, the firm has converted many of its properties from oil boilers to natural gas systems.
Natural gas tends to be more accessible and less expensive than heating oil, which will likely only become more expensive in the coming years. Because natural gas comes from underground pipelines, individuals will never run out of the resource. Heating oil requires constant monitoring of levels to ensure that the system is not left without fuel and, consequently, heat. Natural gas systems also require less maintenance because they do not need regular cleaning, nor do they produce ash. An unclean oil-burning system is a hazard for people living in the building.
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