BEVERLY HILLS, Calif., March 24, 2022 /PRNewswire/ — The Pension Real Estate Association (PREA) has announced the winners of the 2022 PREA Real Estate Investment Management ESG Awards at the group’s Spring Conference in beverly hills on March 23. Environmental, social and governance (ESG) issues are increasingly at the heart of investment decision-making, and these awards were introduced by PREA to recognize cutting-edge private equity real estate funds. ESG in real estate investment.
By spotlighting these award-winning investment funds, PREA not only recognizes industry leaders, but also provides examples to the industry of how properly implemented ESG programs can help foster a more sustainable future. and socially responsible, without sacrificing investment performance.
Five prizes were awarded in different categories: PREA Open-End Fund ESG Award, PREA Closed-End ESG Award, PREA ESG Momentum Award, PREA Emerging Manager ESG Award and PREA Social Impact ESG Award.
This is the second year that the awards have been presented, but the first year that the Social Impact category is included. PREA again received a tremendous response to its call for entries for the awards, attracting entries from 47 actual funds with total net assets under management of more than US$167 billion. The submissions were judged by a panel of experts external to PREA and independent of any investment manager or institutional investor.
The winners of the PREA Real Estate Investment Management ESG Awards 2022 in the five categories are:
PREA Emerging Manager ESG Award
Recognize excellence in addressing ESG issues by new real estate investment management companies.
Winner 2022: SoLa Impact
Since Martin MuotoCEO of SoLa Impact: “Ultimately, real estate succeeds best when it meets the needs of the communities it serves. Many challenges facing the world cannot be solved without investing significant capital in the ESG sector. SoLa Impact demonstrates that When it comes to social performance and financial results, we don’t have to choose one or the other—you can “do well by doing good.” PREA and the pension fund industry set a strong example to reward intentional ESG investing and we are extremely proud to be recognized by PREA for our work.
PREA Open-End Fund ESG Award
Recognize excellence in addressing ESG issues by open-end real estate funds.
2022 Winner: Hines European Core Fund (managed by Hines)
Since Simone PozzatoManager of the Hines European Core Fund, Hines: “It is an honor to win the PREA Open-End Fund ESG award for the second consecutive year for our Hines European Core Fund. community initiatives.. With the urgency of the transition to a net-zero economy, ESG performance is increasingly correlated with financial returns, as mainstream investors are now extremely focused on adding sustainable assets to their portfolios. I am confident that our continued efforts to meet the social needs of communities, carbon neutrality and innovation in asset management will create a lasting impact on the neighborhoods we serve, and will also seek to deliver benchmark financial performance. to our investors.”
PREA Closed-End Fund ESG Awards
Recognize excellence in addressing ESG issues by closed-end real estate funds.
2022 winner: Welput (managed BentallGreenOak)
Since Ker Gilchristmanaging partner of Welput, at BentallGreenOak: “Building on the power of BentallGreenOak’s global platform and ESG capabilities, Welput continues to challenge the limits of what can be achieved to develop sustainable office buildings that will meet the ESG requirements of today and tomorrow. tomorrow. Our Welput team approaches its ESG mission with a bottom-up and top-down strategy that examines the attributes of each asset and explores in detail how we can improve our plan. I am delighted and grateful for the recognition this award brings to our work, as we remain committed to our ambition to make Welput net zero ready in the near term.”
PREA ESG Momentum Award
Recognize innovative and industry-leading approaches to ESG issues among both open and closed-end real estate funds, and/or significant recent advances in ESG outcomes.
Winner 2022: jamestown Premier Property Fund (managed by Jamestown LP)
Since Josh Wechtermanaging director and fund manager for Premier Property Fund, jamestown “The future of real estate is built on sustainability principles and operations. Each year, we progress towards this vision and aim higher. The PREA ESG Momentum Award confirms both our progress to date and our ESG strategy long-term.”
PREA Social Impact ESG Award
Recognize excellence in addressing social issues among real estate funds.
2022 Winner: Turner Multifamily Impact Fund (managed by Turner Impact Capital)
Since Bobby TurnerCEO, Turner Impact Capital: “Turner Impact Capital is thrilled with PREA’s inaugural ESG Social Impact Award in honor of the Turner Multifamily Impact Fund I. Returns for Investors. This recognition by PREA is tremendous validation of our company’s core mission: to create positive change through market-driven solutions to some of our nation’s greatest challenges. »
Greg MacKinnondirector of research at PREA, said:
“Society is built on real estate, and to be successful as a long-term real estate investment, it must reflect the broader needs and concerns of society. The integration of ESG considerations into the process of investment decision not only helps create a more sustainable future, All of our 2022 ESG award winners show that, well designed, a real estate investment program can have significant positive impacts on society and the communities in which it operates , while delivering competitive investment performance. At PREA, we are proud to recognize these real estate investment managers at the forefront of integrating ESG considerations into their investment strategies.”
About SoLa Impact
SoLa Impact is a family of real estate funds with a dual bottom line strategy focused on preserving, rehabilitating and building high quality affordable housing in Black and Brown communities. SoLa’s proven track record leverages data-driven social impact strategies to deliver superior financial returns. SoLa Impact’s fourth fund, the Black Impact Fund, is part of an initiative to invest more than $1 billion in affordable housing and workforce and related social impact strategies in the urban cities of California.
SoLa Impact was ranked the 7th fastest growing minority-led private company on Inc.’s 500 list. Magazine and has also been recognized by Forbes Magazine and the Sorenson Impact Center as the nation’s leading Opportunity Zone urban fund. SoLa Impact’s funds have attracted a number of leading investors looking for yield while remaining committed to diversity and inclusion and delivering impact through ESG initiatives.
Founded in 1979, the Pension Real Estate Association (PREA) is a not-for-profit trade association for the global institutional real estate investment industry. PREA currently lists over 700 member companies across United States, Canada, Europe and Asia. Our members include public and corporate pension funds, endowments, foundations, Taft-Hartley funds, insurance companies, investment advisory firms, REITs, developers, real estate operations and industry service providers.
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