Seven CRE Associations Establish Consortium for Companies to Buy From Diverse Suppliers

Minority- and women-owned businesses serving the commercial real estate industry’s supply chain are gaining more prospects and engagement with commercial real estate operators with this week’s launch of the Commercial Real Estate Diverse Supplier (CREDS) Consortium.

CREDS has been established to further the opportunities for these businesses nationally and it is supported by seven leading real estate trade associations.

The Real Estate Roundtable’s President and CEO, Jeffrey DeBoer, said in prepared remarks, “Owners, developers, and financiers of commercial and multifamily real estate are committed to helping minority, women, and other historically under-represented entrepreneurs prosper in our great industry.

“The CREDS Consortium can help our members realize their intentions to advance economic opportunities across the vast and varied supply chain that serves real estate makes our buildings productive, and strengthens the fabric of our communities.”

Leading Associations Support CREDS

In addition to The Real Estate Roundtable, CREDS Consortium associations include CREW Network, ICSC, Mortgage Bankers Association, NAIOP, Nareit and the National Multifamily Housing Council.

Each will highlight tools that their members can use to identify, track, report, and procure products and services from MWBEs and companies owned by veterans, LGBTQ+ persons, and persons with a disability.

The CREDS Consortium has launched a two-year pilot program that will run through the end of 2024 with SupplierGATEWAY, a leading supplier management software platform and minority-owned firm that automates and simplifies supplier and vendor management, according to a release.

SupplierGATEWAY’s products include supplier sourcing, registration, risk management, compliance, and management—and provide support for corporate social responsibility, diversity, and inclusion goals.

Sharon Wilson Géno, President, National Multifamily Housing Council, said in prepared remarks, “NMHC proudly continues our longstanding commitment to DEI as a business imperative that drives innovation and success.

“NMHC knows that connecting more buyers with more sellers, and measuring those connections, are essential steps toward a more robust market that benefits both multifamily firms and MBWE partners that help power the industry.”