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RREEF, Advance Realty Endorse BOMA 7-Point Challenge

BOMA has landed two new participants for its 7-Point Challenge green building program.

Investment manager RREEF North America and New Jersey-based owner and developer Advance Realty Group both endorsed the voluntary program that seeks to cut energy consumption across property portfolios by 30 percent by 2012.

Launched last summer, the 7-Point Challenge is one of the most popular green building advocacy initiatives created the industry trade group. More than 30 local BOMA chapters and 25 industry firms have joined the program, including CB Richard Ellis, Cushman & Wakefield, USAA Real Estate Co., The Irvine Co., Hines, Transwestern and Shorenstein. "Market transformation is achievable when organizations ... step up to the challenge," said Brenna Walraven, BOMA International's Chairman and Chief Elected Officer and an executive managing director with USAA.

To decrease energy usage in buildings, the program taps EPA Energy Star benchmarking, education and training for building personnel, and energy audits to identify and implement low-cost energy efficiency strategies.

Mike Kent, managing director of leasing and property management for RREEF, called the program a "natural next step" for the Deutsche Bank subsidiary. "We are committed to further developing our sustainable business practices and to fostering an eco-friendly community that involves our tenants and investors," he said.

RREEF Real Estate has about $49 billion in assets under management worldwide.

Advance Realty, the Peter Cocoziello-led firm that owns One Gateway Center in Newark, NJ, boosted its sustainable real estate platform in March by hiring energy management firm GSH Group to implement energy conservation practices across its Mid-Atlantic property portfolio of roughly 4.5 million square feet.

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Comment balloon 0 commentsBrandon Jordan • May 10 2008 02:51PM


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