TORONTO, Nov. 05, 2024 (GLOBE NEWSWIRE) — Crown Realty Partners (“Crown”) is pleased to share our 2024 Global Real Estate Sustainability Benchmark (“GRESB”) results for our Core Fund of office properties:
- Achieved a score of 91, compared with 90 in our 2023 submission;
- Ranked 2nd out of our expanded peer group of 90 entities in the Americas Non-listed / Core / Closed end category;
- Outperformed both the peer group and the GRESB averages in 13 out of 14 criteria in the assessment; and
- Achieved 5-star rating, in recognition of ESG leadership, for the sixth consecutive year.
This achievement is notable given the prestigious group of international peers to whom Crown compares itself, within the category across the Americas (Crown also achieved 1st out of a smaller group of local peers). It reaffirms Crown’s leadership in preserving and creating value through intelligent investment decisions that drive meaningful reductions in waste, water, and emissions.
With the average age of properties in this portfolio over forty years, its top performance relative to peers reinforces the adage that the greenest building is the one already standing. “Investing in assets at the right point in their investment cycle not only protects value but can also yield meaningful returns, consistent with our sustainable investments strategy,” said Anna Huang, Director, Sustainable, Investments.
“Crown is a fiduciary and at our core, an ROI-focused investor,” continued Emily Hanna, Managing Partner, Investments. “Our approach to sustainability for the Core Fund, much like the approach we take across our portfolio, is based on deriving maximum value for the capital investments we make. The-on-going performance of our Core Fund is proof that this strategy yields resilient returns.”
This marks the sixth consecutive year Crown has disclosed to GRESB on behalf of its Core Fund. In addition, Crown’s submissions on behalf of two special purpose investment vehicles managed for institutional investors have also achieved improvements in their GRESB scores relative to their inaugural submissions in 2023. By reporting to this global benchmarking standard, Crown looks to best practices on a global scale to ensure we are always future-focused and protecting the value of the assets we manage.
Crown has expanded its submissions to GRESB, with two additional separately managed accounts, for which we received a 4 and 5-star ratings. In the case of both of those vehicles, Crown scored above the GRESB average and Peer group average for all 3 core components of the submission (Environmental, Social and Governance).
About Crown
Crown is an integrated commercial real estate investment and management firm focused on value-add opportunities across Canada, with over three billion dollars of real assets under management. Crown has a well-established track record, an experienced team and takes a hands-on approach to provide superior returns for investors and better workplaces for businesses. For more information, click here.
Crown submitted its Core Fund to the Non-Listed Canadian Office: Corporate Core Fund category within GRESB. Crown also submitted to GRESB on behalf of special purpose vehicles managed by Crown under the Non-Listed Canadian Office: Corporate Core: Mixed use: Office/Retail and Non-Listed Canadian Office: Corporate Core: Mid-rise Office categories this year. For further details on categories, click here.
About GRESB
GRESB is the global ESG benchmark for real estate and infrastructure. We synthesize data and provide actionable insights to our members, partners, and investors. Our engagement tools and reporting solutions aid over 170 institutional investors and more than 2,000 fund managers, companies, and asset operators to make informed decisions based on Environmental, Social, and Governance (ESG) data. The GRESB Foundation, an independent, not-for-profit organization, plays a key role in setting the standards for assessing the ESG data performance of real estate, infrastructure, and other assets. Please visit this page to get better acquainted with the Foundation and how it influences GRESB’s efforts.
For more information, please contact:
Emily Hanna, PhD
Managing Partner, Investments
[email protected]
647.729.2609
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cba8ea8a-e7b8-473a-a781-895ff0db99f0