Hines REIT wins highest honor from NAREIT and ENERGY STAR as nation's most sustainable REIT
WASHINGTON, DC--November 20, 2008--The National Association of Real Estate Investment Trusts® (NAREIT®), in collaboration with ENERGY STAR®, today honored several of its member companies for demonstrating superior and sustained energy use practices.
“Our ‘Leader in the Light’ award recognizes company-wide operations which generate substantially improved energy efficiency and expense management,” explained NAREIT Executive Vice President for Finance and Operations Sheldon M. Groner.
This year’s “Leader in the Light” Award recipients:
“Increasingly, companies are showing that a focus on sustainability and energy efficiency is not only a positive for the company and the environment, but also for shareholders,” Groner said. “The companies that are being honored have implemented innovative and effective measures to improve portfolio-wide energy performance.”
The “Leader in the Light” Awards were presented during the NAREIT Annual Convention in San Diego. This year’s judges were: Branko Terzic, Deloitte Services LP; Maria Tikoff Vargas, U.S. Environmental Protection Agency; and, Mark Vorreuter, Cornell University.
The National Association of Real Estate Investment Trusts® (NAREIT®) is the representative voice for U.S. real estate investment trusts (REITs) and publicly traded real estate companies worldwide. Members are REITs and other businesses that own, operate and finance income-producing real estate, as well as those firms and individuals who advise, study and service those businesses.
DISCLOSURE: NAREIT does not intend this press release to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice. Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or investment strategies discussed in this publication. Nothing herein should be construed to be an endorsement by NAREIT of any specific company or products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. NAREIT expressly disclaims any liability for the accuracy, timeliness or completeness of data in this publication. Unless otherwise indicated, all data are derived from, and apply only to, publicly traded securities. All values are unaudited and subject to revision. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily indicative of future returns or performance.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 457 million square feet (42.5 million square meters) of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $25.6 billion, Hines is one of the largest sustainable real estate organizations in the world.
About Momentum Bay
Momentum Bay Associates LP is a comprehensive green management consulting firm headquartered in Houston, Texas. The firm's services bring together two disciplines: management consulting (e.g., turnaround management, corporate renewal, and strategic growth consulting) and sustainability consulting (including green business, green building, energy efficiency, renewable energy, etc.). In 2008, Momentum Bay's founder Mark Robinson served as Hines' first Sustainability Manager, worked with Hines REIT to articulate the portfolio's economic and ecological impact, and prepared the NAREIT Award Application.
>> To learn more about Momentum Bay's sustainability and strategy consulting services, please visit www.greenmanagementconsulting.com.
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