MIM has a long history of investing in companies and projects that are focused on the conservation of natural resources, the production and discovery of alternative energy sources, the implementation of clean air and water projects, and other environmentally conscious business practices.
MIM currently defines green investments to include:
- LEED, ENERGY STAR, BREEAM and/or Fitwel certified real estate equity investments;
- commercial mortgage loans secured by LEED and/or ENERGY STAR certified real estate;
- renewable energy projects, including wind and solar;
- ESPCs (Energy Savings Performance Contracts);
- public and private corporate green bonds; and
- PACE (Property Assessed Clean Energy) residential and commercial loans.
Baltimore’s 414 Light Street: Environmental and Tenant Wellness
In 2020, MIM originated a $119 million commercial mortgage loan on 414 Light Street, a newly built LEED Silver multifamily building situated on Baltimore’s Inner Harbor waterfront. The transit-oriented property’s location on the city’s waterfront offers residents superior access to multiple modes of transportation. It is three blocks from Camden light rail and MARC commuter rail station, as well as the Charm City Circulator, a free rapid shuttle bus that has a stop directly adjacent to the site, along with two water taxi stops within a block of the site providing transportation across the Inner Harbor. This unique transit access makes the property an attractive option for residents who commute to Washington, D.C., and major employment hubs at Fort Meade/National Security Agency and Howard County. The property’s location, which boasts a Walk Score of 97, also offers residents walkable access to numerous retail, dining, and entertainment options and easy access to employers in the Central Business District. The property offers its tenants plentiful environmental amenities, including smart thermostats, a green roof, electric vehicle charging stations, and dedicated parking for fuel-efficient vehicles. Tenant wellness also features prominently, with a 24/7 lifestyle concierge team devoted to resident services and wellness programs, a fitness center, yoga and movement studio, and a community garden featuring herbs and vegetables.