Cortland, a leading vertically integrated multifamily real estate firm headquartered in Atlanta, has achieved a significant milestone in its commitment to sustainable practices. The company has secured its highest-ever GRESB scores for its environmental, social, and governance (ESG) performance, achieving five-star ratings for both its flagship funds: Cortland Growth and Income, L.P. (CGI) and Cortland Enhanced Value Fund V, L.P. (CEVF V).
This impressive accomplishment, recognized by GRESB, a prominent ESG benchmarking organization, underscores Cortland’s dedication to responsible real estate investment, environmental stewardship, social responsibility, and governance excellence. This year’s GRESB ratings mark a substantial improvement over last year’s two-star ratings for Cortland’s flagship funds. For 2024, CEVF V received the highest score among 39 U.S. value-add multifamily funds rated by GRESB, while CGI ranked in the 88th percentile among U.S. core multifamily funds.
These significant scoring improvements are attributed to Cortland’s remarkable progress across GRESB environmental indicators, including energy efficiency, water conservation, waste reduction, greenhouse gas emissions, data monitoring, building certifications, and more.
“Sustainability is paramount to our investors, residents, and associates. Earning these ratings reaffirms our commitment to spearheading the market in multifamily investment solutions,” said Jason Kern, President of Investment Management for Cortland. “Cortland’s vertically integrated model and multifamily expertise empower us to consistently implement sustainability initiatives across a range of activities, encompassing design, construction, investment, and management of the communities in our fund vehicles.”
Each year, GRESB meticulously assesses and benchmarks the ESG performance of assets worldwide, providing valuable insights to financial markets about intricate sustainability, social, and governance matters. GRESB data is relied upon by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks, and critical choices that need to be made as the industry transitions towards a more sustainable future.
“The outcomes of this year’s GRESB Assessments are a testament to the remarkable progress being made across the sector. It’s clear that our participants are helping to establish new benchmarks in sustainability,” said Sebastien Roussotte, Chief Executive Officer of GRESB.
“This GRESB recognition spotlights the pivotal role that sustainability plays in Cortland’s operational and investment strategies,” said Cass McFadden, Vice President and Global Head of Sustainability for Cortland. “We are dedicated to achieving outcomes that benefit all our stakeholders and propel ESG and sustainability forward in the multifamily real estate sector.”
Adding to its impressive achievements, Cortland recently strengthened its commitment to global sustainability standards by adopting the United Nations Principles for Responsible Investment. The firm also recently closed its Cortland Enhanced Value Fund VI, L.P., surpassing its initial target by 50% to secure $1.5 billion in commitments. This underscores institutional capital’s growing demand for multifamily real estate and investors’ strong confidence in Cortland.
Cortland is a leading force in the multifamily real estate industry, committed to providing exceptional living experiences and sustainable practices. The company’s recent GRESB achievements are a testament to their dedication to ESG principles and their commitment to shaping a more sustainable future for the industry.
