ATLANTA, GA - Cortland, a vertically integrated, multifamily real estate investment, development, and management company, has earned its highest ever GRESB scores for Environmental, Social, and Governance (ESG) performance. Both Cortland Growth and Income, L.P. (CGI), an open-end, core-plus fund, and Cortland Enhanced Value Fund V, L.P. (CEVF V), a fully invested closed-end, value-add fund, achieved five-star ratings. This recognition by GRESB, a leading ESG benchmarking organization, highlights Cortland’s leadership in sustainable multifamily real estate and commitment to environmental stewardship, social responsibility, and governance excellence.
This year’s GRESB ratings mark a significant improvement over last year’s two-star ratings for Cortland’s two flagship investment funds. For 2024, CEVF V received the highest score amongst 39 U.S. value-add multifamily funds rated by GRESB, and CGI ranked in the 88th percentile amongst U.S. core multifamily funds. These scoring improvements are attributable to Cortland’s progress across GRESB environmental indicators, including energy, water, waste, greenhouse gas, data monitoring and review, and building certifications.
“Sustainability is crucial to our investors, residents, and associates. Earning these ratings underscores our commitment to leading the market in multifamily investment solutions," said Jason Kern, President of Investment Management for Cortland. "In particular, Cortland’s vertically integrated model and multifamily expertise gives us the opportunity to consistently implement sustainability initiatives across a range of activities, including design, construction, investment, and management of the communities in our fund vehicles.”
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability, social, and governance topics. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks, and choices that need to be made as the industry transitions to a more sustainable future.
“The results of this year’s GRESB Assessments are a testament to the progress being made across the sector. It’s clear that our participants are helping set new standards in sustainability,” said Sebastien Roussotte, Chief Executive Officer of GRESB.
“This GRESB recognition highlights 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 accolades, Cortland recently strengthened its commitment to global sustainability standards by adopting the United Nations Principles for Responsible Investment. In addition, the firm recently closed its Cortland Enhanced Value Fund VI, L.P., exceeding its initial target by 50% to secure $1.5 billion in commitments and underscoring institutional capital’s strengthening demand for multifamily real estate and investors’ confidence in Cortland.
About Cortland: Cortland is a vertically integrated, multifamily real estate investment, development, and management company focused on delivering resident-centric, hospitality-driven apartment living experiences. Headquartered in Atlanta, Cortland manages and is invested in, directly or indirectly, over 250 apartment communities comprised of nearly 80,000 homes in the US with regional offices in Charlotte, Dallas, Denver, Houston, Orlando, and Phoenix. Cortland has significant experience in acquiring, developing, renovating, owning, and operating multifamily communities, leveraging the services of its construction, design, and property, asset, and investment management affiliates. Internationally, Cortland maintains a management and development platform in the UK.
Cortland is the Top Property Management Brand for online reputation in 2023 (Reputation Score by reputation.com (Cortland pays a recurring fee to utilize Reputation.com’s platform in connection with the management of Cortland’s brand reputation across all its communities. To be included in Reputation.com’s annual Property Management report, companies are required to pay a nominal fee for each community to be reviewed, analyzed, and scored. Cortland is not affiliated with Reputation.com.) and is a Great Place to Work-Certified™ Company (2023) (Based on scores calculated during 7/2022 – 7/2023. Cortland is not affiliated with "Great Places to Work® and did not directly or indirectly provide compensation in connection with obtaining or using the rating.). For more information, please visit cortland.com
About GRESB: GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become a leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.