The National Association of Real Estate Investment Trusts (NAREIT) has named the winners of its annual Leader in the Light Awards, which honor NAREIT member companies that have demonstrated superior and sustained energy use practices.
The Leader in the Light Awards are presented to REITs in eight property sectors: diversified; global, for non-U.S. companies; healthcare; industrial; lodging/resorts; office; residential; and retail. If there are both large and small-cap entries that meet the awards criteria in a given property sector, NAREIT presents awards to both the leading large and small cap companies.
This year's award winners were:
Diversified: Vornado Realty Trust
Global: British Land Company
Health Care: HCP, Inc.
Industrial: Prologis
Lodging/Resorts: Hersha Hospitality Trust
Office - Large Cap: Brookfield Office Properties
Office - Small Cap: Thomas Properties Group
Residential - Large Cap: AvalonBay Communities
Residential - Small Cap: Post Properties
Retail - Large Cap: Simon Property Group
Retail - Small Cap: Equity One
NAREIT has been presenting the Leader in the Light awards since 2005. Beginning this year, however, NAREIT modified its judging criteria to include the results of the Global Real Estate Sustainability Benchmark Annual Survey.
Designed in 2009, GRESB's Annual Survey measures the environmental performance of property portfolios around the world. The survey is endorsed and closely watched by many of the world's largest institutional investors, representing, in 2012, more than $1.7 trillion in institutional capital under management.
Incorporating the GRESB survey results into the Leader in the Light judging criteria enables the companies competing in Leader in the Light to measure their performance against a global benchmark.
"Sustainability is a critical issue - one that is becoming increasingly important to our industry and its investors," said NAREIT President and CEO Steven A. Wechsler. "Our inclusion of GRESB judging criteria in the Leader in the Light program reflects NAREIT's recognition of the global importance of this issue," he said.
The awards were presented at NAREIT's REITWorld 2012 Annual Convention for All Things REIT in San Diego, CA.