NEW YORK CITY- Charles B. Leitner III, global head of Rreef, has taken on the role of CEO at the Greenprint Foundation, a worldwide alliance of owners, investors and financial institutions aiming to “green” commercial real estate. Leitner will spearhead the foundation’s initiative to reduce real estate carbon emissions, and says in a statement that Greenprint is “poised to become a catalyst for change in how the real estate industry combines the reduction of our carbon footprint with adding value to our portfolios.”
In a release, Rreef, the real estate investment management arm of Deutsche Bank’s Asset Management division, says it “strongly supports” Leitner’s decision to lead Greenprint., even as it means he’s stepping aside as the company’s global head. Leitner will assume the role of chairman of Rreef and will remain actively engaged in the business, the company says. Rreef is a founding member of Greenprint.
Pierre Cherki, also based in New York, has been appointed global head at Rreef. He previously was head of Europe, Middle East and Asia Pacific, and is now reporting directly to Kevin Parker, head of DeAM. Parker notes in a release that his company has already taken the lead on climate change issues.
To that end, DeAM has $6.8 billion in climate change-related assets under management as of March 31. In June 2009, DeAM launched what is reportedly the world’s first real-time carbon counter on a 70-foot tall billboard outside Madison Square Garden.
A recent Rreef research paper, titled, “The Greening of U.S. Investment Real Estate” argued that green building is fundamentally altering real estate market dynamics. Property owners will need to adapt quickly or face shrinking demand or obsolescence, according to the paper.
In related news, Deutsche Bank earlier this month chose Steven Winter Associates and HR&A Advisors to create the Building Energy Efficiency Data Report. The report will investigate building performance data of over 200 apartment buildings that have been retrofitted in New York City over the past several years. It aims to quantify the cost savings that result from retrofit efforts while influencing lending and investment decisions in the multifamily sector, according to a release.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
