Value add investor. That’s what a lot of real estate firms call themselves. The term is used to describe the strategy of buying underperforming buildings and putting money into upgrades. Done right, this can be a very defensible business model. Many property investors don’t have the expertise, patience, or capital to make significant upgrades to a building. There are lots of ways that real estate companies add value to their portfolio properties. Some remodel interiors, and others change the building’s use altogether. But recently, a new type of value add property firm has emerged, one that buys properties that have not kept up with energy efficiency and decarbonization upgrades and enhances them by making them more sustainable.