Resourceful

Places to Transform

We are a solutions-focused business and bring that spirit to our environmental commitments. From upgrading existing properties with data-driven, measurable, and fiscally responsible efficiencies to enabling sustainable living and working in new developments, we seek to achieve and maintain excellent building performance.

Centrico by Windsor, Doral, Florida. A multi-story building with a modern architectural design.Several palm trees are surrounding a swimming pool with lounge chairs

2024 Multifamily Progress

Since 2016, GID has worked to maintain its recognition and strong standing with GRESB. GID currently submits GRESB assessments for three of our funds, participating in both the Standing Investment and Development modules to ensure our commitment is measured and recognized at every stage.1

GRESB
Outdoor seating area on a tiled patio with a fire pit. The background is a green landscape with a city in the distance
1000 Speer by Windsor – Denver CO

In 2024, our Responsible Investments program received the following results from GRESB, across our submissions:

2nd Place — Separate Account I

  • Six consecutive years in the top 5
  • Achieved our highest score since 2021
  • Achieved 1st place in Development Module

3rd Place — Separate Account II

  • 1st year with top 5 result, up from 11th place in 2023
  • Delivered a 10-point increase since 2021

4th Place — Open End Fund I

  • Score increased 12% from prior year inaugural submission

Multifamily Targets and Progress2

Energy3

Target: Reduce by 20% from 2017 baseline

Reduction from baseline

20.8%

Progress to 2027 target

103.8%

GHG Emissions

Target: Reduce by 20% from 2017 baseline

Reduction from baseline

17.4%

Progress to 2027 target

86.8%

Water

Target: Reduce by 20% from 2017 baseline

Reduction from baseline

7.7%

Progress to 2027 target

38.2%

Waste4

Target: 50% diversion rate

2024 diversion rate

27.6%

Progress to 2027 target

55.1%

2024 Industrial Progress5

Building Certifications

Target: Achieve 30% of floor area

Assets with building certifications

27.0%

Progress to 2033 target

57.1%

Energy Data Coverage

Target: Achieve 75% of floor area

Energy data coverage

46.3%

Progress to 2033 target

14.1%

Water Data coverage

Target: Achieve 75% of floor area

Water data coverage

42.5%

Progress to 2033 target

8.2%

Cool Roofs

Target: Achieve 65% of floor area

Assets with cool roof

61.3%

Progress to 2033 target

0%

  • Produced over 4,500 MWh of renewable energy

  • Saved over 100 million gallons of water through smart irrigation systems

  • Collected 420 pounds of electronic waste (e-waste)

  • Installed 196 electric vehicle (EV) charging ports, bringing the total to 1,452

Awards

As of 2024, 141 properties now hold at least one sustainable or healthy building certification or energy rating.6 During the year, we were honored with the esteemed ENERGY STAR Partner of the Year Award.7 This reflects our continuous hard work to improve the sustainability performance of our portfolio. We were also delighted to be recognized as a finalist at the Multi-Housing News (MHN) Best ESG Program awards8 and our Industrial Value Fund I was named 2024 Sustainable Fund at the 2024 LEAP Awards.9

Four individuals standing in a row holding the LEAP award
Eric Plesman, Head of Global Real Estate for HOOPP, presenting LEAP Award to Jeffrey Palmer, Isabelle Wallace and Rene Circ from GID.

Leveraging Data to Reduce Our Impact

In 2024, we continued our efforts to implement innovative property technology (proptech) solutions across our assets, increasing data coverage and energy efficiency. This included installation of:

  • Remote heating, ventilation, and air conditioning (HVAC) optimization technologies
  • Smart irrigation systems
  • Shadow metering and smart meters
  • EV charging stations

An area of significant progress during 2024 was our shadow metering rollout. In addition to adding meters to new sites in Texas and Florida, we also rolled out the technology for the first time across sites in North Carolina and South Carolina. These shadow meters support better understanding of on-site energy usage and enhance our reporting capabilities for GRESB and our investors. We have also partnered with Enertiv to install a QR code-based metering system across 69 facilities, which will allow our Property Management Team to collect data on natural gas usage far more efficiently.

During 2024, our Responsible Investments Team coordinated with vendors and consultants to increase data coverage across our real estate portfolio, placing a focus on our Texas market. We increased energy data coverage across our real estate portfolio by 6.7 million square feet in 2024. In addition, at numerous properties, our waste management contractor uses advanced systems to track waste compactor capacity.

A modern outdoor space with a vertical green wall with embedded lights. A pathway in the center with a seating area on the side
Windsor Mystic River – Medford MA

Saving Energy with Efficient Technology

At GID, we leverage proptech solutions to help us reduce energy consumption. For example, we have engaged Parity to deploy its HVAC optimization technology and support service to nine multifamily assets. This system generates energy savings by making automated, remote micro-control adjustments to central HVAC equipment in real-time based on current and future demand. It is projected to deliver over 1.5 million kWh in electricity savings and over 65,000 therms in natural gas savings annually at those assets. In our pilot building, The Aldyn in New York, the system has delivered $60,000 in utility cost savings thanks to a 33% reduction in electricity consumption for the pumps and fans that service the common areas.

As of 2024, we have installed solar energy systems at six multifamily properties and two industrial sites using a mix of owned systems, power purchase agreements, and leased community solar programs. Looking ahead, we are actively exploring opportunities to expand solar installations at additional assets across our industrial and multifamily portfolios.

To further our energy efficiency practices, we engaged an engineering firm, Energetics, to assess our multifamily assets in the Denver, Colorado area and conduct a gap analysis. We have subsequently developed a schedule of energy conservation measures that will bring our buildings into compliance by the 2028 and 2032 target years.

A modern interior space with a kitchen island and dining area with table and chairs. In the background, there are large windows showing buildings and trees
Element 47, Denver, Colorado

Reducing Our Water Consumption

During 2024, we took various steps to reduce water consumption and improve efficiency across our portfolio. For example, as part of our water savings strategy, we install low-flow plumbing fixtures in baths and kitchens during renovations.

We are replacing water-intensive, non-native vegetation with native plant species better suited to the local climate at many of our properties. This shift not only reduces water consumption but also supports native wildlife and helps preserve native biodiversity. Additionally, to monitor and control irrigation water usage, we advanced our smart irrigation system rollout. As of 2024, 26 installations have been completed, saving over 100 million gallons of water to date.

A kitchen faucet with oven in the background
Edison on the Charles, Waltham, Massachusetts

Making Trash Smarter

At all our multifamily properties, we offer convenient recycling facilities, featuring well-placed recycling bins in brightly lit, accessible locations with clear instructional signage. In collaboration with our waste partner, Waste Management (WM), we are facilitating site visits to assess additional efficiency improvements. Since 2023, these assessments have led to updates across 46 of our sites, reducing costs associated with excess trash yards and contamination spend by 48%.

We are also looking for ways to reduce electronic waste (e-waste) usage due to its hazardous components. E-waste often contains heavy metals that pose a danger to human health and the environment if disposed of incorrectly. This is why we continued to promote our Electronics Waste Drive in 2024, collecting 420 pounds of e-waste from one of our New York-based assets.

The front of a building with the number 400 displayed on the entrance. There is a revolving door with large glass panels and planters on the sides
The Ashley, New York, New York

Encouraging Greener Travel

We want to help our communities live more sustainably, including promoting lower-impact transportation. Our residents currently benefit from amenities such as secure bike storage and repair facilities, along with electric vehicle (EV) charging stations, designed to help reduce individual environmental impact.

To encourage the use of EVs, we partner with:

  • ChargePoint, an EV station manufacturer and platform provider
  • Rexel Energy Solutions, an equipment specialist
  • SiteLogIQ®, the program coordinator and installer

Across our residential properties, we added 196 EV charging ports in 2024, bringing our total network of charging infrastructure to over 1,450 ports, serving 117 properties.

We are also delighted to announce that this year, eight GID properties received ActiveScore certification.10 One property renewed an existing ActiveScore certification while also achieving ModeScore certification for the first time in recognition of its connectivity to sustainable transportation options.

A chargepoint for electric vehicles
The Marston by Windsor, San Jose, California

Sourcing Responsibly

In 2024, we strengthened our focus on sustainability-aligned products to further support responsible investments and standardize sustainable procurement across our business by introducing a Responsible Investments Commitment Clause in our master services agreements with our vendors.

Working alongside our repair and maintenance products provider, Ferguson, we are putting in place sustainable features such as energy efficient lighting, ENERGY STAR-certified products, and sustainable HVAC and plumbing materials.

Beyond repair and maintenance products, we have partnered with Interface and Shaw flooring product suppliers and Staples for office equipment to improve our sustainable procurement efforts. Additionally, we have implemented a robust rollout of cleaning products across our multifamily assets with the Ecolab Dilution Program. These Green Seal standard products are packaged and shipped in a concentrated format, reducing packaging and shipping loads.

A modern kitchen area with kitchen island and seats
Cirrus by Windsor – Seattle WA

More information on our sustainability journey is available in the Places to Transform section of our 2024 Responsible Investments Report.

2024 Responsible Investments Report

Explore Responsible Investments at GID

Responsible Investments

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Footnotes

  1. GID pays a fee to submit individual investment vehicles to GRESB. GID is not affiliated with GRESB. GRESB rankings are for the 2024 results. GRESB rankings include a peer group in 2024 of 43, 43, and 6 for Separate Account I, Separate Account II, and Open End Fund I respectively. Details on the real estate assessment and scoring can be found here. ↩
  2. The targets and specific performance metrics disclosed within this passage pertain exclusively to assets in Separate Accounts I & II, excluding assets under construction. ↩
  3. Energy use intensity (EUI) is a measurement of total energy consumption as a function of gross floor area, expressed as kilowatt-hours per square foot, or kWh/ft2. Using this metric, we can consistently track total portfolio energy performance regardless of changes in portfolio size. ↩
  4. The waste diversion rate is a measurement of total waste diverted from landfill by either recycling or composting and is expressed as a percentage of total waste disposed. Unlike our other metrics, waste diversion is reported as an absolute figure and is not a function of portfolio size. ↩
  5. The targets and specific performance metrics disclosed within this passage pertain exclusively to assets within the GID Industrial Asset Managed Accounts and our Industrial Joint Venture. ↩
  6. GID and Windsor Communities® are not affiliated with any certification awarding bodies or organizations. GID pays prerequisite administration fees to cover application, review, and certification expenses. Data represents current Green and Healthy Building Certifications from across GID’s multifamily and industrial properties. ↩
  7. GID does not pay a fee to ENERGY STAR, which is a program administered by the U.S. Environmental Protection Agency. ENERGY STAR Partner of the Year award achieved in 2024, and valid for a period of one year. ↩
  8. Multi-Housing News (MHN) recognized GID and Windsor Communities® for their commitment to integrating sustainable practices across their real estate business. Winners of the 2024 MHN Excellence Awards are selected by an independent panel of judges based on self-reported data from all nominees for YE23 and YE24. GID/Windsor paid an entry fee to MHN. Neither GID nor Windsor are affiliated with MHN. More information on the MHN Excellence Awards is provided here. ↩
  9. GID does not pay a fee for HOOPP’s LEAP Sustainability Awards, the award is only open to partners of HOOPP. The Sustainable Fund award was earned in 2024 and is valid for one year. ↩
  10. GID and Windsor Communities® are not affiliated with any certification awarding bodies or organizations. GID pays prerequisite administration fees to cover application, review, and certification expenses. ↩