CASE STUDY: GRESB AND EUROPEAN FUND SPOTLIGHT
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In 2024, Greystar received an average GRESB rating of 3 stars and an average score of 78 points out of 100 across all reporting funds. This represented a slight increase from our average score in 2023 (77) and compares favorably to the global average (76). 73% of our funds are above peer group average, and we also added seven new funds to the reporting group, bringing the total up to 33 funds across US, Europe, and APAC. Our approach to GRESB mirrors our goals for overall improvement in assets’ sustainability performance—we aim to improve quality and coverage of environmental data points, invest in property improvements that drive tangible change, provide third-party verification of our efforts through green building certifications, and engage our property teams and residents in reducing energy, water, and waste. Our largest European portfolio ($3b AUM) earned a 4-star rating in 2024 with a score of 87 points in 2024—just one point away from a 5 star rating. This represented a significant improvement from 2023, when the fund was rated 3 stars and earned 77 points. Not only did the fund’s performance improve on an absolute basis, but the fund was also ranked first in a peer group of 11 total funds of residential value-added investment vehicles in Northern Europe. The score increase was largely driven by improved energy data coverage, now exceeding 95% of meters with complete monthly data over a 12-month period, as well as the successful achievement of green building certifications for every asset in the fund. Over 2024, the fund’s assets received six new AirRated certificates, as well as BREEAM certification on all new Spanish assets added to the fund. 2 In 2025, we plan to continue improving the portfolio through better tracking of water consumption data, onboarding new assets onto the platform that continue to meet expectations for sustainable performance, and pursuing additional green building certifications as we drive reductions in resource consumption and deliver a better resident experience.
Greystar has participated in GRESB since 2014, a globally recognized sustainability framework and benchmark for real estate investments.
4 Star Rating 32 %
3 Star Rating 41 %
2024 GRESB Results Summary (GRESB rating distribution by AUM) 1
1 Star Rating 4 %
78/100 average GRESB score across Greystar’s reporting funds in 2024 (+1 from 2023 and +2 compared to average global GRESB score) 1
2 Star Rating 23 %
1 Greystar pays a nominal fee to GRESB to be eligible to receive this rating and score. Scores covered a prior 12 month period ending when received in 2024. 2 Greystar pays a nominal fee to rating agencies to be eligible for green building certifications.
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