×
Triangles background

OUR COMPANY AFFILIATES

CBRE GROUP

CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2020 revenues of $23.8 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included on the Fortune 500 since 2008, ranking #122 in 2021. It also has been voted the industry’s top brand by the Lipsey Company for 20 consecutive years, and has been named one of Fortune’s “Most Admired Companies” for nine years in a row, including being ranked number one in the real estate sector in 2021, for the third consecutive year. Its shares trade on the New York Stock Exchange under the symbol “CBRE.”

CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

INVESTMENT SERVICES

CBRE Global Investors, combined with CBRE Clarion Securities and CBRE Caledon, is one of the world’s leading real asset investment managers with $124.5 billion in assets under management.

Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.

Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate.The CBRE Global Investors and Trammell Crow Company platforms make up the Real Estate Investments division of CBRE Group.

The Real Estate Investments division is led by
Mike Lafitte, Global CEO, Real Estate Investments.

BLOGS

Regularly released content on the state of the real estate and infrastructure industry are produced by our subject matter experts and shared on their blogs. A selection of them can be found below.

Triangles background

EU Sustainable Finance Disclosure Regulation

This page contains certain disclosures required to be made pursuant to Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (“SFDR“).

SFDR Entity-level Disclosures
Sustainability Risk Policies – Article 3 Disclosure

This disclosure applies to the following entities:

  • CBRE Global Investors EMEA AIFM B.V.
  • CBRE Global Investors Luxembourg AIFM S.à r.l.
  • CBRE Global Investors SGR p.A
  • CBRE Global Investors (UK Funds) Limited
  • CBRE Global Investment Partners Limited

Together the “CBREGI Entities“.

The CBREGI Entities are making the following disclosure pursuant to Article 3 of SFDR.

The CBREGI Entities consider that sustainability risks can have a material impact on investment performance and therefore consideration of sustainability risk is integral to the CBREGI Entities’ investment decision-making and investment management process.

The aforementioned considerations include the following key areas:

  • Strategic Risk Framework: the process through which risks surrounding an investment strategy can be assessed, monitored, reported and mitigated in a consistent manner;
  • House Views and Recommended Strategies: top-down house views and preferred strategies in light of current cycle positioning;
  • Investment Plan: plans prepared, adopted and updated as applicable for each mandate which set-out the key objectives for a portfolio based on the current portfolio composition and past performance taking into account market forecasts and in-house tactical recommendations;
  • Investment Evaluation: the CBREGI Entities seek to apply an asset class specific set of criteria when evaluating assets and key counterparties. During the investment selection process, the relevant investment committee will assess the investment proposal and consider the findings of the due diligence screening and analysis. The materiality and relevance of a sustainability risk will vary depending on the specific asset class in question. Where applicable, the membership of each investment committee may include an ESG Team representative to support the investment committees and provide insight and oversight as required;
  • Asset Management: while an asset is held, ESG data is collected, monitored and assessed and ESG action plans are developed as necessary; and
  • Reporting: as appropriate, ESG performance measurement and reporting is provided for each mandate and investment strategy.
Principal Adverse Impact Statements – Article 4 Disclosures
 

 

CBRE Global Investors EMEA AIFM B.V. (“CBRE GI EMEA AIFM”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI EMEA AIFM recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI EMEA AIFM does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI EMEA AIFM expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI EMEA AIFM will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors SGR p.A (“CBRE GI SGR”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI SGR recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI SGR does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI SGR expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI SGR will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors (UK Funds) Limited (“CBRE GI (UK Funds)”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI (UK Funds) recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI (UK Funds) does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI (UK Funds) expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI (UK Funds) will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors Luxembourg AIFM S.à r.l. (“CBRE GI Luxembourg AIFM”), is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI Luxembourg AIFM, as part of CBRE Global Investors (the “Firm”), does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

It is currently unclear how mandatory principal adverse impact indicators with respect to real estate assets should be assessed with regard to investments outside of the EU and the UK, given that the methodology to calculate inefficient real estate assets relies on EU-specific regulation1 and associated ratings (energy performance certificate, primary energy demand, nearly zero energy building), none of which are available in countries where assets under management are located outside of EU and the UK.

Based on the current draft of the RTS, CBRE GI Luxembourg AIFM expects to be able to comply with the RTS once they start to apply and to collate data for EU and UK real estate assets in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI Luxembourg AIFM will continue to monitor the legislative progress of the RTS and, in particular, whether any clarity is achieved in relation to inefficient real estate assets for buildings outside of EU and the UK.

In the meantime, CBRE GI Luxembourg AIFM confirms that as a more general matter ESG considerations remain of great importance, including in the context of its investment decisions. Please see our Firm-wide ESG vision on CBRE Global Investors website for more detail.

[1] Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (recast)

 

 

 

CBRE Global Investment Partners Limited (“CBRE GIP”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GIP, as part of CBRE Global Investors (the “Firm”), has elected that for purposes of (and in accordance with) SFDR, it will not seek to “consider principal adverse impacts of investment decisions on sustainability factors”, as prescribed by that Regulation, given that the applicability of companies-specific indicators to private indirect real-estate investments is unclear. For this reason, the scope of principal and additional adverse sustainability impacts to be considered for such investments is not fully understood, and compliance cannot be confirmed.

CBRE GIP will reassess this decision once the regulatory technical standards supplementing SFDR have been finalised and once further clarity emerges on how principal adverse impact indicators should be assessed for indirect investment strategies.

Notwithstanding this decision, CBRE GIP confirms that as a more general matter ESG considerations remain of great importance, including in the context of its investment decisions. Please see our Firm-wide ESG vision on CBRE Global Investors website for more detail.

 

 

CBRE Global Investors EMEA AIFM B.V. (“CBRE GI EMEA AIFM”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI EMEA AIFM recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI EMEA AIFM does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI EMEA AIFM expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI EMEA AIFM will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors SGR p.A (“CBRE GI SGR”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI SGR recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI SGR does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI SGR expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI SGR will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors (UK Funds) Limited (“CBRE GI (UK Funds)”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI (UK Funds) recognises the importance of the consideration of the principal adverse impacts of its investment decisions on sustainability factors. As at the date hereof, CBRE GI (UK Funds) does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

Based on the current draft of the RTS, CBRE GI (UK Funds) expects to be able to comply with the RTS once they start to apply and to collate data in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI (UK Funds) will continue to monitor the legislative progress of the RTS and to review its internal procedures as appropriate based on the status of the RTS at such time.

 

 

CBRE Global Investors Luxembourg AIFM S.à r.l. (“CBRE GI Luxembourg AIFM”), is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GI Luxembourg AIFM, as part of CBRE Global Investors (the “Firm”), does consider, evaluate and monitor the adverse impacts of its investments on a range of sustainability factors that it determines to be relevant. However, it continues to monitor the requirements of compliance with Article 4 of SFDR.

Article 4 of SFDR will be complemented by regulatory technical standards contained in a Commission Delegated Regulation supplementing SFDR (the “RTS“). The European Supervisory Agencies have issued their final report on the proposed RTS but the text of the RTS has not been finalised and is subject to change. The RTS is expected to apply from 1 January 2022.

It is currently unclear how mandatory principal adverse impact indicators with respect to real estate assets should be assessed with regard to investments outside of the EU and the UK, given that the methodology to calculate inefficient real estate assets relies on EU-specific regulation1 and associated ratings (energy performance certificate, primary energy demand, nearly zero energy building), none of which are available in countries where assets under management are located outside of EU and the UK.

Based on the current draft of the RTS, CBRE GI Luxembourg AIFM expects to be able to comply with the RTS once they start to apply and to collate data for EU and UK real estate assets in respect of the first reference period (1 January 2022 to 31 December 2022). CBRE GI Luxembourg AIFM will continue to monitor the legislative progress of the RTS and, in particular, whether any clarity is achieved in relation to inefficient real estate assets for buildings outside of EU and the UK.

In the meantime, CBRE GI Luxembourg AIFM confirms that as a more general matter ESG considerations remain of great importance, including in the context of its investment decisions. Please see our Firm-wide ESG vision on CBRE Global Investors website for more detail.

[1] Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (recast)

 

 

 

CBRE Global Investment Partners Limited (“CBRE GIP”) is making the following disclosure pursuant to Article 4 of SFDR.

CBRE GIP, as part of CBRE Global Investors (the “Firm”), has elected that for purposes of (and in accordance with) SFDR, it will not seek to “consider principal adverse impacts of investment decisions on sustainability factors”, as prescribed by that Regulation, given that the applicability of companies-specific indicators to private indirect real-estate investments is unclear. For this reason, the scope of principal and additional adverse sustainability impacts to be considered for such investments is not fully understood, and compliance cannot be confirmed.

CBRE GIP will reassess this decision once the regulatory technical standards supplementing SFDR have been finalised and once further clarity emerges on how principal adverse impact indicators should be assessed for indirect investment strategies.

Notwithstanding this decision, CBRE GIP confirms that as a more general matter ESG considerations remain of great importance, including in the context of its investment decisions. Please see our Firm-wide ESG vision on CBRE Global Investors website for more detail.

Remuneration Statement – Article 5 Disclosure

Disclosure pursuant to Article 5 of SFDR.

CBRE Global Investors has established remuneration policies (collectively, the “Policy“) applicable to all group entities (together, “CBRE Global Investors EMEA” or the “Company“) established in Europe, the Middle East and Africa (“EMEA“). The Policy is developed, approved, implemented and monitored by a series of bodies within the group structure, including in particular the boards of the entities in scope and relevant human resources and risk management departments. The Policy applies to all employees of CBRE Global Investors EMEA, save for limited exceptions.

The Policy has been developed with the aim of supporting the Company’s business strategy, corporate values and long-term interests, including by facilitating the identification, assessment and management of sustainability risks when determining individual remuneration packages. The key principles of the Policy include fostering an appropriate risk culture (including with respect to the management of actual and potential conflicts of interest) and compliance with applicable law and regulation.

The performance management and rewards framework envisioned by the Policy has been designed to promote effective risk management.

SFDR Product-level Disclosures

This disclosure applies to the following entities:

  • CBRE Global Investors EMEA AIFM B.V.
  • CBRE Global Investors Luxembourg AIFM S.à r.l.
  • CBRE Global Investors (UK Funds) Limited

(each such entity being a “Manager”)

The Manager manages (i) certain products which promote environmental and/or social characteristics and fall under Article 8(1) of SFDR; and (ii) certain products which have sustainable investment as their objective and fall under Article 9(1) of SFDR.  The disclosures required under Article 10(1) of SFDR and other information on sustainability-related matters in respect of such products can be found at the link immediately below. The Manager has taken measures to protect the confidentiality of the information contained in such disclosures.