June 14, 2019
The Urban Land Insitute’s Greenprint Center for Building Performance has released a whitepaper on embedding sustainability into real estate transactions. The Greenprint Center is a worldwide alliance of real estate owners, investors and strategic partners that are committed to improving the environmental performance of the global real estate industry.
The report, titled Embedding Sustainability in Real Estate Transactions, is based on interviews with more than 30 real estate lenders across the globe, and outlines 11 opportunities to improve the sustainability of real estate transactions. The whitepaper was produced in partnership with View Inc.
The opportunities include:
Including big ticket items in project financing, looking at actual energy expenses during acquisition due diligence rather than estimates, upgrading building systems in the correct order as soon as possible and marketing the building to buyers that will pay a premium for sustainability.
“With governments passing ambitious new climate and energy policies, the private sector is getting more creative about how to build the business case for energy efficiency and sustainability, and more tactical about how and when they make investments in enhancing building performance,” said Billy Grayson, executive director at ULI’s Center for Sustainability and Economic Performance, which includes the Greenprint Center. “This report demonstrates the commitment ULI members are making to promote sustainability in their work and portfolios.”
Greenprint and its members are striving to reduce greenhouse gas emissions by 50 percent by 2030. The organization’s membership includes BlackRock, CalPERS, Clarion Partners, CommonWealth Partners, DWS, GLL Real Estate Partners, Granite Properties, The Howard Hughes Corp., Jamestown, JLL, Kilroy Realty, LendLease Americas, PGIM Real Estate; Prologis; Rudin Management Co., Savanna, SL Green, Tishman Speyer and Zurich Alternative Asset Management.
For comments, questions or concerns, please contact David Cohen