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CBRE Investment Management Significantly Increases Average Scores, Exceeds Direct Real Estate Industry Average in GRESB Real Estate Assessment
Average Scores Also Increase Significantly for Infrastructure
October 23, 2023
CBRE Investment Management significantly increased its average weighted score for Direct Real Estate and far exceeded the GRESB average in the 2023 GRESB Real Estate Benchmark Assessment.1
CBRE IM submitted 64 portfolios to the real estate assessment this year—the most of any commercial real estate fund manager for the fourth year in a row. GRESB, which is a leading global sustainability benchmark for real assets, provides a framework to assess, compare and discuss sustainability governance and performance.
CBRE IM’s real estate commingled funds, separate accounts and joint ventures achieved high marks from GRESB, including:
- A more than four-point increase in the Direct Real Estate average weighted score compared to 2022
- Average weighted scores for both Direct Real Estate and for Development that exceeded the respective GRESB averages by nearly 10 points
- Four real estate peer group leaders:
- CBRE Strategic Partners Fund Value 8
- CBRE Retail Property Fund Iberica
- A UK Separate Account portfolio
- NN Group Separate Account portfolio
- A 30 out of 30 score on the management component of the assessment for the Direct Real Estate portfolios demonstrating strong sustainability governance
The firm’s global core infrastructure fund also improved its weighted score by more than 13 points compared with 2022. Additionally, the firm actively encouraged its infrastructure portfolio companies to submit to GRESB. These companies made strong gains, highlighted by a more than 12-point increase in the average score and Connect Bus being named a peer group leader.
“This level of participation and the results achieved highlight our firm’s commitment to sustainability performance, continual improvement and transparency,” said Helen Gurfel, Head of Sustainability and Innovation, CBRE Investment Management. “We believe that our approach to sustainability is essential to managing risk, creating value and driving long-term investment performance.”
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $147.6 billion in AUM* as of June 30, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has more than 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
1. GRESB announced the results of their annual assessments on Oct. 2, 2023, based on data submitted for the 2022 calendar year. GRESB scores are weighted on a Gross Asset Value basis. More details about the GRESB Assessment Methodology can be found here. CBRE Investment Management did not compensate GRESB for these awards or rankings.