New York (April 22, 2021) — BentallGreenOak (“BGO”) announced that its U.S. Core Fund, BGO Diversified U.S. Property Fund (BGO Diversified) has become a signatory to the Operating Principles for Impact Management, designating BGO Diversified as one of the first U.S.-based open-end, diversified, core real estate fund to commit to this global framework. Signing on to the Impact Principles builds on an established history of economic and social development activity since 1982 and further cements BGO Diversified’s future direction as the firm’s U.S.-based Impact Fund.
“Since BGO Diversified’s inception, we have viewed commercial real estate development and management as a powerful engine for economic and social progress, that when managed thoughtfully, also directly supports the investment objectives of the clients we serve,” said Mike Keating, Managing Director and Portfolio Manager for BGO Diversified. “We manage real estate with an eye to reinforcing the economic ecosystem of our surrounding communities and the people who live and work within them so that our buildings become enablers of opportunity and sustainable spaces that contribute to overall health and wellness. BGO Diversified has been poised to deliver on this new demand from the institutional investor community and we continue to position this fund and its strategies to lead the way on impact investing.”
Launched in 2019, the Operating Principles for Impact Management provide a framework for investors to ensure that impact considerations are integrated throughout an investment lifecycle. The Impact Principles were developed by IFC in collaboration with private and public sectors asset owners and asset managers. By providing greater discipline and transparency in impact investing, the Impact Principles foster increased mobilization of capital for impact and a high standard for the social and environmental impact that these funds could achieve.
“We are delighted to welcome BentallGreenOak as the 125th Signatory to the Operating Principles for Management,” said Diane Damskey, Head of the Secretariat of the Impact Principles. “By committing to this global standard, BGO is helping to bring greater transparency and discipline to this growing market. This community of Signatories is taking the lead on shaping the future of the impact investing market and mobilizing more capital for impact. “
BGO-Diversified: BentallGreenOak’s U.S. Core Impact Fund
The Fund’s core focus includes Sustainable Spaces, Resilient Communities and Climate Change. Key highlights to date include:
- Economic Development: Since 1982, BGO Diversified has created $10.7B in wages and 56,329 construction jobs in the U.S. In addition, the Fund has generated approximately $22B in economic activity (output or sales) and 149,321 total jobs across the U.S.
- Green Building Certifications: 96% green building certifications (based on floor area as of December 31, 2020)
- Energy conserved: energy reduction as a direct result of energy conservation and efficiency initiatives employed by the fund during the reporting period 6,017,334 ekWh (vs. 2019, Normalized)
- Building area of energy efficiency improvements: 29,414,110 SF [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 2019 vs. 2014 15,937 tCO2e, a 17% reduction*(exclusive of RECs/VERs)
- Climate Risk Profiling: 100% of assets with asset-level climate risk assessments, with 89% of assets having established climate resilience adaptation plans
- Health and Wellness: 91% of Office and Residential properties offer one or more wellness feature on-site (Ex healthy food options, access to free drinking water, nature views, indoor plant or water features). Over 68% of the office BGOD portfolio offer wellness facilities on-site representing a total of 5,102,207 sq. ft. 80% of Office and Residential properties provide one or more public amenities (Ex. public seating, playgrounds, walking trails, communal spaces, public art installations).
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $55 billion USD of assets under management (as of April 1, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
About the Secretariat for the Operating Principles for Impact Management
The Secretariat for the Operating Principles for Impact Management is responsible for governance and operations. It oversees, administers, and supports the continued promotion and adoption of the Principles. An advisory board, consisting of 12 representatives from elected Signatory organizations, provides guidance to the Secretariat and advice on the evolution of the Principles.
For more information, visit: www.impactprinciples.org