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REITs Cited for Sustainability

Nareit, the national association for real estate investment trusts (REITs), has presented its annual Leader in the Light Awards for achievement in sustainability to 11 REITs and one individual. Recipients of the awards are judged to have produced superior, measurable results from the implementation of sustainable business practices.

This year’s awards were presented to REITs in eight property sectors: Data Centers; Diversified; Health Care; Industrial; Lodging/Resorts; Office; Residential/Apartments; and Retail/Regional Malls. Additionally, two new award categories were added this year. They are Most Innovative – which recognizes companies that have developed truly innovative solutions to address sustainability challenges – and Leadership Personified – which recognizes an individual who creates a positive influence for sustainability within his or her organization and the broader REIT community.

The property sector award winners are:

• Data Centers: Digital Realty
• Diversified: Vornado Realty Trust
• Health Care: Ventas, Inc.
• Industrial: Prologis
• Lodging/Resorts: Host Hotels & Resorts, Inc. (Honorable mention: Hersha Hospitality Trust)
• Office: Kilroy Realty Corporation
• Residential /Apartments: Equity Residential
• Retail/Regional Malls: The Macerich Company

The Most Innovative awards were presented to Boston Properties and Alexandria Real Estate Equities. The Leadership Personified award was presented to Lou Schotsky, First Vice President-Investments, of Equity Residential.

“Sustainable assets and business operations are playing an increasingly critical role in the real estate industry, and REITs are on the leading edge of these practices,” says Fulya Kocak, vice president with Nareit. “REITs are recognizing that sustainability is not only a responsible business practice, but an effective one.”

Nareit has been presenting the Leader in the Light awards since 2005. In 2012, the organization modified its judging criteria to include the results of the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey. GRESB’s Annual Survey measures the environmental performance of property portfolios around the world, and it is a closely watched benchmark among many of the world’s largest institutional investors.

This year’s Leader in the Light Awards submissions were evaluated by an interdisciplinary panel of judges including:

• Cliff Majersik, Executive Director, IMT
• Dave Pogue, Global Director of Corporate Responsibility, CBRE
• Jean Lupinacci, Chief, ENERGY STAR Commercial and Industrial Branch at U.S. EPA
• Marla Thalheimer, Director of Sustainability, Brookdale Senior Living, Inc.
• Matthew Kozlowski, LEED AP BD&C, Facilities Engineering Department, Cornell University
• Maria Vargas, Director, Department of Energy Better Buildings Challenge

The Leader in the Light Awards were presented at Nareit’s REITworld 2017 annual convention in Dallas.

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