Paladin Realty Partners, LLC, a leading real estate investment fund manager focused on the Americas, proudly announced today that it has certified the world’s first zero carbon residential project under the International Finance Corporation’s (IFC) Excellence in Design for Greater Efficiencies (EDGE) program.
The project, “Villas del Fresno,” consists of 1,639 low-income homes in the greater metropolitan area of Mexico City and was previously certified by EDGE in 2018 as the largest residential project in the Western Hemisphere to achieve greater than a 20% savings in water, energy and embodied energy in materials. The project’s first 100 units, which had already reached the “EDGE Advanced” minimum of 40% energy savings, were certified as EDGE Zero Carbon, as carbon credits were purchased to offset the units’ remaining carbon footprint for the next two years.
“Paladin is very proud to announce the zero carbon certification of Villas del Fresno,” said Randall Loker, CIO and Chair of the ESG Committee at Paladin Realty. “Alongside our local partners, we have dedicated a lot of resources to building and certifying sustainable products; this is our greatest accomplishment to-date and we are excited to continue being a pioneer of green housing in Latin America.”
Since 2018, Paladin Realty has certified 17 residential projects consisting of 5,639 units in Brazil, Mexico, Colombia, Peru and Costa Rica. In February 2021, the IFC named Paladin Realty as an EDGE Champion in recognition of its standout certification efforts.
About Paladin Realty
Paladin Realty Partners, LLC is a real estate private equity investment manager and operator focused on value-added and opportunistic real estate investments in the United States and selected markets throughout Latin America. Paladin has one of the longest track records of any institutional fund manager in Latin America, actively investing in Brazil, Mexico, and the Andean region since 1998, encompassing investments nearly US$4 billion in real estate assets, through five panregional Latin America funds, two co investment vehicles and one Brazil-focused vehicle, including more than 37,000 housing units, as well as select commercial, multifamily, student housing, senior housing, and mixed-use properties.