BentallGreenOak Announces Its BGO Diversified U.S. Property Fund Is Among the First Open-end, Diversified, Core Equity Real Estate Funds to Become a Signatory to the Principles for Impact Management

Beth McCandry

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NEW YORK – (BUSINESS WIRE) – BentallGreenOak (“BGO”) announced that its US core fund, BGO Diversified US Property Fund (BGO Diversified), has signed the Operating Principles for Impact Management and has made BGO Diversified one of the first to openly diversify Core real estate fund based in the USA that is committed to this global framework. Signing the Impact Principles builds on a history of economic and social development established in 1982 and consolidates the future direction of BGO Diversified as the company’s US-based Impact Fund.

“Since BGO Diversified was founded, we have seen commercial property development and management as a powerful engine of economic and social progress that, when carefully managed, directly supports the investment goals of the clients we serve,” said Mike Keating, Managing Director and portfolio manager for BGO Diversified. “We manage real estate with the goal of strengthening the economic ecosystem of our surrounding communities and the people who live and work in them so that our buildings create opportunities and sustainable spaces that contribute to overall health and wellbeing. BGO Diversified stands ready to meet this new demand from the institutional investing community and we continue to position this fund and its strategies to lead the way in impact investing. ”

The Impact Management Operating Principles, introduced in 2019, provide investors with a framework to ensure that impact considerations are taken into account throughout the investment lifecycle. The Impact Principles were developed by the IFC in collaboration with private and public asset owners and asset managers. By increasing discipline and transparency in impact investing, the Impact Principles encourage greater mobilization of capital for impact and a high standard of the social and environmental impact that these funds could generate.

“We are pleased to welcome BentallGreenOak as the 125th signatory to the Code of Conduct for Management,” said Diane Damskey, Secretary of the Principles of Operation. “By committing to this global standard, BGO is helping to give this growing market more transparency and discipline. This community of signatories is taking the lead in shaping the future of the impact investing market and mobilizing more capital for impact. ”

BGO-diversified: BentallGreenOaks US Core Impact Fund

The fund’s focus is on sustainable spaces, resilient communities and climate change. Previous highlights are:

  • Economic Development: Since 1982, BGO Diversified has created $ 10.7 billion in wages and 56,329 construction jobs in the US. In addition, the fund has generated approximately US $ 22 billion in economic activity (production or sales) and a total of 149,321 jobs

  • Green Building Certifications: 96% Green Building Certifications (based on the floor space as of December 31, 2020)

  • Energy saving: Energy saving as a direct result of the fund’s energy saving and efficiency initiatives in the reporting period 6,017,334 ekWh (compared to 2019, normalized)

  • Building area to improve energy efficiency: SF 29,414,110 [total floor area of properties participating in Target Setting program (+total floor area of Industrial/Open Air retail sites with efficiency measures)]

  • GHG reduction: GHG reduction in 2019 compared to 2014 15,937 tCO2e, a reduction of 17% * (without RECs / VERs)

  • Climate Risk Profiling: 100% of assets with asset-level climate risk assessments, with 89% of assets having plans to adapt to climate resilience

  • Health and wellness: 91% of office and residential properties offer one or more wellness functions on site (without healthy food, access to free drinking water, views of nature, indoor plants or water features). Over 68% of the BGOD portfolio of offices offer wellness facilities on site, which total 5,102,207 m². 80% of office and residential properties offer one or more public facilities (e.g. public seating, playgrounds, hiking trails, common rooms, public art installations).

About BentallGreenOak

BentallGreenOak is a leading global real estate investment management consultant and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with assets under management of approximately USD 55 billion (as of April 1, 2021) and expertise in asset management for office, industrial, multi-family, retail and hotel properties the whole world. BentallGreenOak has offices in 24 cities in twelve countries with extensive local knowledge, experience and extensive networks in the regions where we invest in and manage real estate on behalf of our clients in real estate, secondary and co-investment markets. BentallGreenOak is part of SLC Management, Sun Life’s alternative asset management business.

The assets under management shown above include real estate capital and mortgage investments managed by the BentallGreenOak group of companies and its affiliates.

More information is available at www.bentallgreenoak.com

Via the Secretariat for the Functional Principles of Impact Management

The Secretariat for the Functional Principles of Impact Management is responsible for governance and operations. It oversees, administers and supports the further promotion and adoption of the principles. An advisory board consisting of 12 representatives from the elected signatory organizations advises the secretariat and advises on the development of the principles.

More information is available at: www.impactprinciples.org

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Rahim Ladha

BentallGreenOak

[email protected]

Source: BentallGreenOak