Performance indicates Stoneweg US' Leadership in Sustainable Asset Management
ST PETERSBURG, Fla., Oct. 18, 2024 /PRNewswire/ -- Stoneweg U.S., LLC ("Stoneweg US"), a leading asset manager for multifamily real estate, is proud to report that the portfolio it manages for Varia US Properties AG's, a Swiss publicly traded multifamily real estate company ("Varia US"), scored 87 points and 4 stars according to the last GRESB results publication. The portfolio managed by Stoneweg US ranked 3rd in the "US Listed Multifamily" category, improving from 4th in 2023 and 8th in 2022. Stoneweg US' commitment to sustainable asset management has played a significant role in elevating Varia US' GRESB performance, driving a substantial year-over-year improvement in several key areas of the portfolio's overall score.
"Our firm's performance for Varia US in sustainable asset management within the multifamily sector is a testament to our unwavering commitment to long-term value," said Patrick Richard, CEO of Stoneweg US. "We are dedicated to integrating sustainability into every facet of our operations, from responsible development to optimizing asset performance. By prioritizing both environmental stewardship and financial returns, we aim to deliver exceptional value to residents and investors alike while shaping a more sustainable future for the communities we serve."
The 2024 assessment result again shows an extraordinarily strong performance for Stoneweg US on Varia US' account in terms of Environmental, Social and Governance dimensions:
Ongoing Commitment to Achieving ESG Targets
In addition to these notable rankings, Stoneweg US has made considerable progress in specific sustainability efforts on behalf of Varia US. The company has steadily increased its portfolio of sustainable building certifications, engaging site staff, asset management, and residents to ensure these certifications deliver value to the assets.
In partnership with Stoneweg US, Varia US has set ambitious portfolio ESG improvement targets including a 20% reduction in energy consumption and water usage (intensity-based) by 2033, and a 50% reduction in greenhouse gas emissions, all using 2023 as the baseline year. Varia US has aligned with the Science Based Target Initiative, aiming for net zero emissions by 2050.
Thomas Stanchak, managing director of sustainability at Stoneweg US, commented, "We are proud to have played a pivotal role in advancing Varia US' sustainability efforts, reflected in our significant year-over-year GRESB improvements. Our ongoing focus on renewable energy, resource efficiency, and emissions reduction is driving real progress. Stoneweg US remains committed to achieving these goals while creating value for both residents and investors and reinforcing our leadership in sustainable multifamily real estate."
The 2024 GRESB results underscore Stoneweg US' continued leadership in sustainable asset management and commitment to long-term responsible investing. For more information on Stoneweg US' sustainability initiatives and asset management services, and to access the "GRESB Real Estate Benchmark Report 2024" as well as their landmark Annual ESG Report for Varia US, please visit https://www.stoneweg.us/policies-and-reports. Detailed insights about GRESB can be found on www.gresb.com.
About Stoneweg US:
Stoneweg US is a multifamily real estate investment firm located in the heart of downtown St. Petersburg, FL, with a portfolio valuation of approximately $2 billion comprised of ~11,000 units. Focusing on asset optimization through sustainability, climate resilience, and proven value-add strategies, the company invests in and develops sustainable communities to drive healthy returns and enhance the resident experience.
Contact: Tara Kassal
Ascent
917-406-2162
tkassal@brand-ascent.com
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SOURCE Stoneweg US, LLC