3V Infrastructure and Camden Property Trust to Expand EV Charging Nationwide

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10/08/2024 - 08:00 AM

New Relationship Increases Access to EV Charging for Thousands of Multifamily Residents Across the U.S.

NEW YORK--(BUSINESS WIRE)-- 3V Infrastructure, a leading electric vehicle (EV) charging infrastructure investor, owner, and operator, backed by an affiliate of Greenbacker Capital Management, today announced a relationship with Camden Property Trust (NYSE: CPT), one of the nation’s premier multifamily residential operators. The companies will deploy EV charging stations across portions of Camden’s property portfolio, expanding access to reliable, at-home charging for thousands of U.S. residents.

The multifamily housing sector faces growing pressure to meet increasing demand for accessible and reliable charging solutions. According to industry research, 31% of U.S. housing is multifamily buildings, yet fewer than 5% of rental communities currently offer onsite chargers. Given most EV charging takes place at home, EV charging at multifamily locations is critical to supporting the surge in EV ownership.

“Renters are hungry for the convenience and economic advantages of at-home charging solutions, but the burden of building, maintaining, and scaling EV infrastructure is falling on the shoulders of property owners,” said Aubrey Gunnels, CEO of 3V Infrastructure. “Building and maintaining a reliable EV charging network across geographies and utilities is complicated, time intensive, and expensive. That’s why we’re passionate about working with property owners like Camden to bring convenient charging to residents across the U.S.”

Through this relationship, 3V Infrastructure will install, own, operate, and maintain Level 2 EV charging stations at Camden communities—at no cost to Camden. This approach allows Camden to expand its charging infrastructure quickly and efficiently with 3V’s team of veteran EV charging professionals. Initial installations will take place in Austin, TX; Charlotte, NC; Phoenix, AZ; and various locations across California, with plans to expand nationwide. Camden has elected to use Loop Global as the charging hardware and software provider for the first phase of projects.

“Camden is proud to be leading the multi-family industry in offering EV Charging at our communities,” said Linda Willey, VP of Business Services at Camden Property Trust. “We believe having a dedicated team like 3V working on this crucial amenity will allow Camden to provide dependable and affordable EV charging services to our residents across the country.”

About 3V Infrastructure

3V Infrastructure LLC is an EV charging infrastructure investor, owner, and operator enabling widespread access to EV chargers. Working closely with a trusted network of national technology and deployment partners, 3V builds and operates Level 2 EV chargers in long-dwell properties such as multifamily housing and hotels, eliminating upfront and ongoing costs for real estate portfolio owners and managers including public and private REITs, Separately Managed Accounts (SMAs), Family Offices, and Private real estate owners. The 3V team brings deep expertise in EV technology, real estate, construction, operations, energy and public affairs, and is backed by an affiliate of Greenbacker Capital Management. With the right combination of technology, infrastructure, and collaboration, 3V Infrastructure aims to address the market gap by providing Level 2 chargers to a broader market, unlocking new customers and opportunities.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 59,996 apartment homes in 177 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 17 consecutive years, most recently ranking #24.

About Greenbacker Capital Management

Greenbacker Capital Management LLC is an SEC-registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit https://greenbackercapital.com.