Multifamily REITs Essex Property Trust and UDR have announced the first closing of a new fund focused on ESG to be managed by RET Ventures
With $80 million of investor capital commitments, the fund will seek to support ESG solutions for the housing industry, including technologies that improve both the environmental and social outcomes of new developments and existing properties.
The fund's goal is to broaden the sector's approach to ESG, addressing climate change and environmental risks as well as social issues, such as housing affordability, building health and safety, and resident well-being.
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