Pradera improved its Global Real Estate Sustainability Benchmark results for 2017 across its funds

London, UK, 2017-Dec-01 — /EPR Retail News/ — Pradera, the specialist international retail real estate fund and asset manager, has again demonstrated it is setting the standard for sustainable retail real estate, having significantly improved its Global Real Estate Sustainability Benchmark (GRESB) results for 2017 across three of its funds.

The Pradera funds were analysed as part of the GRESB survey which sets the industry standard for sustainability in real estate portfolios across the world.

In the latest survey, all three Pradera funds were awarded ‘The Green Star’. This is GRESB’s highest award reserved for entities achieving especially high scores for sustainability implementation, measurement, management and policy. Pradera Central & Eastern Fund (PCEF) received The Green Star for the third year in a row largely due to the fact it is fully certified in terms of energy performance and BREEAM In-Use certificates, while Pradera European Retail Fund (PERF) and Pradera European Retail Fund 2 (PERF2) won the accolade for the first time.

PERF delivered the strongest GRESB results, with a 30 per cent increase on the previous year, while PERF2 and PCEF strengthened their environmental achievements by 29 per cent and 20 per cent, respectively.  PERF and PERF2 were recognised for their outperformance in tenant engagement programmes involving sustainability. Tenant survey results covering operational and asset management aspects from Pradera’s Parc Valles Centre on the outskirts of Barcelona also contributed to PERF winning The Green Star for the first time.

Alison Rehill-Erguven, Head of Sustainability at Pradera, said: “We are wholly committed to sustainability at Pradera and these excellent results reflect the hard work of our on the ground asset management teams. As evidenced by the awards, we have made significant progress on the Environmental Management System as well as further implemented LED lighting and water conservation programmes and recycling initiatives.

“In addition, Pradera rolled-out sustainability workshops for property managers and our local asset management teams have further strengthened links within our communities by building awareness of healthy lifestyle.  As part of our long-term strategy, we have created more bicycle stations at our assets to promote environmentally friendly transport options and helped to reduce greenhouse gas emissions and air-pollution.”

Pradera has participated in the annual GRESB survey since 2011 and on an overall historic basis it has improved its results for all funds combined by 192 per cent since 2012 demonstrating its environmental responsibility and active involvement in sustainability issues. This year over 850 entities participated in the survey. The analysis process covered approximately 77,000 real estate assets across 62 countries on six continents.

It is a busy time for fast growing Pradera, following a significant minority investment in the business by multi-family office LJ Partnership in April 2016. That deal signalled Pradera’s plans to expand and take its trusted platform into untapped segments of the retail property market and new geographies.

Pradera has since launched the Pradera European Retail Parks fund and established Pradera Retail Asia, a joint venture with Macquarie Retail Real Estate Management Limited (MIRA). It manages four retail properties in China in Shanghai, Chongqing, Qingdao, Xi’an and Shanghai, with a total gross leasable area (GLA) of 200,000 sqm. This increasingly global perspective sees Pradera sharing best practice to further improve performance and returns in a €3.3 billion portfolio that now includes 58 shopping centres and retail parks worldwide.

PRESS ENQUIRIES:

James Carnegie, Good Relations Property
+44 20 7861 2573
jcarnegie@goodrelationsproperty.co.uk

Source: PRADERA

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