(LONDON) – The Hines Pan-European Core Fund (HECF) has achieved the highest possible rating of five Green Stars out of a possible five and has been named a Global Sector Leader by Global Real Estate Sustainability Benchmark (GRESB) in the 2017 Real Estate Assessment. The GRESB survey assesses sustainability in areas ranging from stakeholder engagement, building certifications, monitoring & EMS and performance indicators, risks and opportunities, policies & disclosures, and management. The GRESB Sector Leader Awards Program recognizes real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability. The GRESB Real Estate and Infrastructure Assessment results will be released at events around the globe in September and October 2017.
HECF, an open-ended non-listed pan-European diversified core fund, achieved very strong scores across several GRESB categories. HECF also ranked first among all European portfolios that participated in the optional Health and Wellbeing module. Daniel Chang, Managing Director at Hines, said: “This is the first time that HECF has participated in GRESB and we are thrilled to receive this recognition for our commitment to sustainability. We believe it is a strong reflection of the quality of our portfolio and of the dedication to moving this important topic forward.”
“From inception, sustainability has been an integral part of the Fund’s investment strategy and is a key way to deliver value to our investors and improve the quality of the built environment and our communities,” adds Peter Epping Fund Manager at HECF and Managing Director at Hines.
Sander Paul van Tongeren, Managing Director at GRESB, said: "We are proud to recognize the 2017 Sector Leaders for their clear commitment and meaningful action to improve their sustainability performance. One of the things that really stood out this year is how investor interest, backed up with accurate performance benchmarking, is empowering the spread of sustainable best practices, such as those shown by the GRESB Sector Leaders, across the market globally.”
About Hines: Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.