Two Principal Real Estate Investors funds achieve high sustainability ranking
Principal Real Estate Investors, one of the largest institutional real estate managers in the US, has two funds ranked in the top three by category in the 2012 Global Real Estate Sustainability Benchmark (GRESB) survey.
The CorePlus Real Estate Property Fund ranked second in the US Diversified category, and the Principal Green Property Fund I ranked third in the US Office category.
GRESB is a science-based benchmark to measure the environmental and social performance of property portfolios, based on an annual survey produced by the GRESB Foundation. Nearly 450 property companies and funds, representing 36,000 properties and USD1.3bn in global assets under management, were represented in this year’s survey.
“We are proud to have two funds finish in the top three of their category in the annual GRESB survey,” says Pat Halter, chief executive of Principal Real Estate Investors. “We have long been a firm believer in the need for sustainable investments, which we know impact the environment – and the bottom line – in positive ways. We look forward to continuing this commitment and to finishing even higher in next year’s GRESB survey.”
The Principal Green Property Fund is a closed-end, commingled fund that adopts a broad, holistic approach towards integrating environmental, social and economic principles into the design and delivery of new commercial properties as well as retrofitting of existing US properties to obtain Leadership in Energy and Environmental Design (LEED) certified status.
The CorePlus Fund is an open-end, commingled fund pursuing an “enhanced” investment strategy using a high-quality, national diversified portfolio of office, industrial, retail, and multifamily properties.
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