Harrison Street Real Estate Capital has engaged IBE since 2014 to help them expand their sustainability practices within their firm and at their assets.
Through their sustainability initiatives, Harrison Street has realized valuable returns in both increase in property value and operating income and through soft returns like stakeholder engagement and investor satisfaction. Their acumen as a fiduciary, their values as a firm, and their commitment to their employees has garnered them recognition as one of the best places to work in money management for last three years and received the Green Star designation for their leadership on the Global Real Estate Sustainability Benchmark (GRESB).
The Institute for the Built Environment helped tailor Harrison Street’s sustainability strategy to their business and asset classes. Through the process Harrison Street has prioritized energy benchmarking, audits, high return retrofits, and has deepened engagement with their operators to identify sustainability risks and opportunities at assets, and enhance tenant satisfaction and wellbeing. Finally, their internal corporate culture prioritizes a superior working environment, employee benefits, professional development, and mentorship.
As Harrison Street continues to grow as a firm, these successes do a great deal to tell their story to their investors. The firm deeply values responsible business and believe that by embedding these values into their core identity and business strategies they can produce greater value for all their stakeholders. Simply, environmental sustainability, social responsibility, and superior governance practices are just good business.
Key Outcomes
- GRESB Green Star recognition
- Identification of energy opportunities within the portfolio
- Increased property valuation through energy investments and reduction in energy consumption
- Greater satisfaction and engagement in key investors
- Named Best Places to Work in Money Management (’14,’15,’16)
Project Deliverables
- Sustainability & Environmental Management Plan (ISO 14001) with annual strategic plan
- Internal team facilitation and support
- Annual employee trainings focused on sustainability strategies for acquisition due diligence, asset management, operator and tenant engagement, etc.
- Asset energy review for EnergyStar qualification and certification
- Annual corporate sustainability report
- Annual GRESB survey submission
2014 Corporate Responsibility Report
2016 Corporate Responsibility Report
2015 Corporate Responsibility Report