Atlanta, GA (PRWEB) September 24, 2013
For the second year in a row, GRESB, a leading global source of comprehensive portfolio level sustainability data for the real estate industry, ranked Gables #1 in the North America Residential sector. GRESB is an industry-led organization committed to rigorous and independent evaluation of the sustainability performance of real estate portfolios. GRESB works in tandem with institutional investors and their portfolio managers to identify and implement sustainability best practices in order to enhance and protect shareholder value.
Gables received this honor as a result of implementing sustainable initiatives across all areas of company activity and based on diligence in data collection relative to best practices within the industry. Sue Ansel, CEO for Gables Residential stated, “We are very gratified to receive the recognition of being the North America residential sector leader in sustainability for the last two years as measured by GRESB. Environmental sustainability and good corporate citizenship are fundamental components of our company’s core values. The results of the benchmark serve to confirm that Gables is a good steward of our local communities.”
The 2013 report released by GRESB is based on sustainability data gathered from 543 real estate companies and funds, providing aggregate information on 49,000 properties across the globe. The report shows that the real estate sector is significantly reducing its environmental impact, and Gables is the overall leader in the North America residential sector. There is clearly an upward trend in sustainability performance in the global real estate industry. 119 real estate companies and funds achieved the “Green Star” status, recognition for outstanding management and implementation of key sustainability issues.
Sustainability is increasingly integrated into day-to-day business decision-making, with over 80 percent of participants involving senior management in the reviewing and monitoring of sustainability processes. The adoption of risk management strategies related to sustainability is widespread: all participants now perform sustainability risk assessments, both for standing investments and for new acquisitions. This sharply contrasts with results reported in 2012, when only 60 percent of participants performed assessments.
"A repeat as GRESB Sector Leader speaks to the thoughtful and professional approach Gables brings to sustainability," says Matt Ellis, CEO of Measurabl, a sustainability reporting company whose software Gables used to prepare its GRESB report. "Being named Sector Leader requires a vast amount of raw data to be collected and sorted. Gables' ability to do so sends a strong signal that its overall management systems and processes are robust. In addition, their comprehensive approach towards sustainability policy, resource conservation and resident engagement shows why Gables was recognized as being a cut above."
# # #
About Gables Residential
Gables Residential is an award-winning, vertically integrated real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables manages approximately 35,000 apartment homes and 500,000 square feet of retail space in high growth markets throughout the United States, including Atlanta, Austin, Dallas, Houston, South Florida, Southern California and metropolitan Washington, D.C. The company has received national recognition for excellence in development, management, sales, marketing, training, benefits and corporate accommodations. These achievements reflect the impact of the company’s experienced and dedicated team members, superior knowledge of the markets served, and expertise in development and management.
It is GRESB’s mission to foster transparency in the sustainability performance of property companies and funds. The information collected by GRESB discloses material sustainability performance at the portfolio level, such as energy and water consumption, but also green building and energy certification, sustainability risk assessments, as well as indicators related to governance and stakeholder engagement. More than 50 institutional investors, representing on aggregate USD 6.1 trillion of institutional capital, now use the GRESB benchmark results in the various stages of the investment management and engagement process, with a clear goal to optimize the risk/return profile of their real estate investments.