External Evaluations and Certifications
GRESB
GRESB is an annual benchmarking assessment to measure ESG (Environmental, Social and Governance) integration of real estate companies and funds, as well as the name of organization which runs the assessment. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI). The GRESB assessment is not a certification for individual real estate properties. It is characterized by its assessment of sustainability efforts of individual real estate companies, REITs and unlisted real estate funds.
GRESB Real Estate Assessment
In the 2023 GRESB Real Estate Assessment, CRE REIT received “4 Stars” in GRESB Rating, which is based on GRESB Overall Score and its quintile position relative to global participants. It also won a “Green Star” designation for 3 consecutive years by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG promotion, and “Performance Component” that assesses environmental performance and tenant engagement of properties owned.
GRESB Public Disclosure
CRE REIT also received the highest “A” for the GRESB Public Disclosure for 3 consecutive years, which assesses the width of ESG disclosure.
Green Building Certification / Evaluation
CRE REIT defines properties that have acquired or renewed, or are scheduled to acquire or renew, any third-party assessment body certification or other assessment described in (i) to (iii) below as Green Buildings.
(i) DBJ Green Building five or four stars
(ii) CASBEE S or A rank
(iii) BELS five or four stars
The Comprehensive Assessment System for Built Environment Efficiency (CASBEE) established by the Institute for Built Environment and Carbon Neutral for SDGs is method of assessing and rating the environmental efficiency of buildings. As a comprehensive system for the assessment of the quality of a building, it evaluates features such as interior comfort and scenic aesthetics as well as environment practices including the use of materials and equipment that conserve energy or reduce environmental load. The CASBEE assessment ranks properties in five grades: Superior (S), Very Good (A), Good (B+), Slightly Poor (B-) and Poor (C).
The purpose of the Building Energy-efficiency Labeling System (BELS) is to ensure that third-party institutions properly implement the evaluation and labeling of non-residential buildings in accordance with the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)'s 2013 Assessment Guideline for Indication of Energy Saving Capabilities of Non-residential Buildings. The certification rating for energy saving performance conducted by third-party institutions is represented using a five-star (★-★★★★★) evaluation scale.
Acquisition Results of Green Building Certification / Evaluation
As of March 29, 2024
Property no. |
Property name | Acquisition price (millions of yen) |
Total floor area (㎡) |
DBJ Green Building |
CASBEE (Note1) |
BELS | Green Building |
---|---|---|---|---|---|---|---|
M-1 | LogiSquare Kuki | 9,759 | 40,907.13 | - | Real Estate Rank A Saitama Pref. Rank A |
★★★★★ | ● |
M-2 | LogiSquare Hanyu | 6,830 | 33,999.61 | - | Real Estate Rank A Saitama Pref. Rank B+ |
★★★★★ | ● |
M-3 | LogiSquare Kuki Ⅱ | 2,079 | 11,511.22 | - | Saitama Pref. Rank A | ★★★★★ | ● |
M-4 | LogiSquare Urawa Misono | 13,060 | 48,738.29 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★★ | ● |
M-5 | LogiSquare Niiza | 6,960 | 25,355.82 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★★ | ● |
M-6 | LogiSquare Moriya | 6,157 | 32,904.90 | - | Real Estate Rank A | ★★★★★ | ● |
M-7 | LogiSquare Kawagoe | 1,490 | 7,542.56 | - | - | ★★★★ | ● |
M-8 | LogiSquare Kasukabe | 4,900 | 21,315.54 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★★ | ● |
M-9 | LogiSquare Soka | 8,109 | 28,817.59 | - | Real Estate Rank A Saitama Pref. Rank A |
- | ● |
M-10 | LogiSquare Yashio | 5,073 | 19,068.60 | - | Real Estate Rank S Saitama Pref. Rank A |
- | ● |
M-11 | LogiSquare Mizuho A | 2,794 | 13,755.16 | - | Real Estate Rank A | - | ● |
M-12 | LogiSquare Mizuho B | 3,584 | 16,016.37 | - | Real Estate Rank S | - | ● |
M-13 | LogiSquare Ageo | 4,908 | 19,142.84 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★★ | ● |
M-14 | LogiSquare Miyoshi | 11,700 | 37,931.49 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★★ | ● |
M-15 | LogiSquare Sayama Hidaka (Note4) | 17,678 | 73,728.44 | - | Real Estate Rank S Saitama Pref. Rank A |
★★★★ | ● |
M-16 | LogiSquare Kawagoe Ⅱ | 3,244 | 14,281.38 | - | - | ★★★★★ | ● |
M-17 | LogiSquare Shiroi | 7,415 | 28,503.11 | - | Building (New Construction) Rank A | ★★★★ | ● |
K-1 | LogiSquare Kobe Nishi | 3,479 | 16,006.20 | - | Real Estate Rank S Kobe Rank A |
★★★★ | ● |
K-2 | LogiSquare Osaka Katano | 22,370 | 76,393.17 | - | Real Estate Rank S Osaka Pref. Rank A |
★★★★★ | ● |
K-3 | LogiSquare Hirakata | 15,091 | 42,875.27 | - | Building (New Construction) Rank A | ★★★★★ | ● |
O-1 | LogiSquare Tosu | 2,823 | 16,739.40 | - | Real Estate Rank S | ★★★★★ | ● |
Total / Average | 159,504 | 625,534.09 | - | 96.5% (Note2) |
87.6% (Note2) |
100.0% (Note2) 100.0% (Note3) |
(Note 1) | "Real Estate Rank S" and "Real Estate Rank A" are CASBEE Real Estate Certification. "Building (New Construction) Rank A" is CASBEE New Construction Certification. "Saitama Pref. Rank A","Saitama Pref. Rank B+","Kobe Rank A" and "Osaka Pref. Rank A" are assessments by the builder. |
---|---|
(Note 2) | Average is based on total floor area. |
(Note 3) | Average is based on properties. |
(Note 4) | The figure of LogiSquare Sayama Hidaka is the sum of the 80% quasi co-ownership interest acquired in January 2021 and the 20% quasi co-ownership interest acquired in July 2022. |
Certification and Registration for Eco Action 21
CRE REIT was certified and registered for the “Eco Action 21” in March 2024.
The Eco Action 21 is a third-party certification and registration system for business operators that conduct environmental management based on the Eco Action 21 Guidelines formulated by the Ministry of the Environment as part of their environmental management systems.