BOSTON, April 13, 2021 /PRNewswire-PRWeb/ -- GID, a leading integrated real estate company, was honored by the Pension Real Estate Association (PREA) in its inaugural Real Estate Investment Management Environmental Social Governance (ESG) Awards. The awards recognize real estate firms and institutional investors that demonstrate leadership in sustainable and socially responsible practices. GID's closed-end fund, Institutional Multifamily Partners, earned top honors for its innovative, data-driven ESG practices throughout the portfolio.
"ESG has been a priority and passion for GID throughout our 60-year history and we have made a concentrated effort to incorporate socially responsible practices across the organization. This long-standing commitment, along with support from our investment partners like CalPERS, has allowed to us make tangible progress and achieve new milestones," says Phil Carmody, director of ESG and corporate programs at GID.
GID's sustainability and social programs are designed to engage, educate, and inspire the company's key stakeholders, from employees and residents to investors and suppliers. Last year, the company developed a 10-Year ESG Strategic Plan to ensure continued progress toward its long-term goals for sustainability within the fund and the property levels. The Strategic Plan outlines the criteria and benchmarking practices, including program management, policies, efficiency measures, data management, stakeholder engagement, and resilience.
In addition to GID's green initiatives, the company continues to make strides with its Diversity Equity and Inclusion (DEI) efforts. GID offers a 10-week Diversity Internship Program that considers candidates who identify as members of underrepresented groups in the real estate industry. The company was also the first firm to sign on as a founder of the National Multifamily Housing Council's DEI Initiative.
Founded in 1979, the Pension Real Estate Association (PREA) is a non-profit trade association for the global institutional real estate investment industry. PREA currently lists over 700 corporate member firms across the United States, Canada, Europe and Asia. To learn more, visit http://www.prea.org.
GID is a privately held and fully integrated real estate company that develops, owns, and operates a premier portfolio of multi-family, industrial, and mixed-use development space. Headquartered in Boston, Massachusetts, GID is an experienced real estate private equity investor and fund manager supported by a vertically-integrated operating platform and has deep expertise across multiple asset classes. GID's existing and under-development properties are valued at $19 billion.
During its 60-year history, GID has acquired or developed over 79,000 residential units and 16.8 million square feet of commercial space in twenty-four states. The current portfolio includes 37,000 residential units, 1 million square feet of retail and office space, and 18.8 million square feet of industrial space. More information is available at gid.com.
Mary Miles, Weinberg Harris & Associates, +1 (443) 614-8013, [email protected]