Stoneweg US LLC Announces First-Ever GRESB Results on Behalf of Varia US Properties AG
St. Petersburg, FL: Stoneweg U.S. LLC (Stoneweg US), a real estate investment firm specializing in multifamily acquisitions and developments, today announced the first-ever 2022 GRESB real estate assessment results for Varia US Properties AG, ranking 8th amongst their 11 multifamily investment peers and revealing strong performance indicators on key ESG initiatives and management practices for Varia US Properties AG; for which Stoneweg US is the exclusive asset manager, a demonstration of the Company’s progress on their overarching ESG strategy.
Stoneweg US joined GRESB, an organization dedicated to providing validated ESG performance data and peer benchmarks for investors and managers, in 2021. GRESB conducts extensive annual assessments on members’ ESG progress and initiatives to determine their efficacy and how they rank on the global ESG benchmarks and goals set forth by the organization. Having undergone the comprehensive assessment for the first time this year, Stoneweg US, on behalf of Varia US Properties AG, obtained noteworthy results in the following areas:
o Environmental: 29/62, Benchmark Average: 37/62
o Social: 18/18, Benchmark Average: 17/18
o Governance: 17/20, Benchmark Average: 18/20
o Management Score: 27/30- Benchmark Average: 26/30
o Performance Score: 37/70- Benchmark Average: 44/70
o Benchmark Report Score: 64/100, Peer Average: 72/100 (ranks 8th out of 11 peers)
“One of the ways we distinguish ourselves amongst our peers is by remaining committed to integrated, practical, proven, and often innovative, sustainability practices at every apartment community we invest in,” said Patrick Richard, CEO for Stoneweg US. “For our first submission, we are very proud of and most pleased to share our GRESB results for Varia US Properties AG, which reinforces how well that approach is paying off, and how we can only continue to get better.”
Comprised of more than 11,000 units, the Varia US Properties AG portfolio specializes in the affordable, market-rate, multifamily workforce sector, and subscribes to a ‘bottom-up’ ESG approach. Apart from strategic ESG alliances, which include GBI, Conservice, Xeal, Energy Star, and the Arbor Day Foundation; Stoneweg US attributes their ability to implement this ‘bottom-up’ approach to their key partnerships with the property managers that oversee operations at their 50+ properties. Stoneweg US will use the assessment results as a guide to continue tailoring the ESG efforts on behalf of Varia US Properties and leveraging property managers to execute them across the portfolio.
“Continuous collaboration with our property managers is an integral part of our ESG activation and will be vital in advancing our GRESB achievements moving forward,” said Thomas Stanchak, Director of Sustainability for Stoneweg US. “They facilitate our initiatives onsite, provide invaluable data and insights about our residents, and play a major role in helping us navigate our long-term ESG journey.”
About Stoneweg US LLC: Stoneweg US is a multifamily real estate investment firm located in the heart of downtown St. Petersburg, FL, with a portfolio valuation of approximately $2.0 Billion comprised of ~14,000 units. Dedicated to redefining multifamily housing, the company invests in and develops communities through sustainable housing solutions and proven value-add strategies to drive healthy returns and enhance the resident experience. For more information on Stoneweg US, please visit: www.stoneweg.us.