SAN DIEGO--(BUSINESS WIRE)--BioMed Realty (“Company”), a leading provider of real estate solutions to the life science and technology industries, today provided highlights of its continued 2023 Environmental, Social and Governance (ESG) achievements.
BioMed Realty is a portfolio company within Blackstone’s Core+ Life Sciences Real Estate strategy, which achieved a 5 Star Rating in the 2023 GRESB Real Estate Assessment. The GRESB Real Estate Assessment is the leading ESG benchmark for real estate and infrastructure investments across the world.
In addition to the 5 Star Rating for the Standing Investments Benchmark, BioMed Realty’s portfolio received a #1 ranking within Technology/Science/Americas and a 4 Star Rating in the Development Benchmark.
“The GRESB 5 Star Rating reflects BioMed Realty’s commitment to maintaining assets that cater to the needs of our tenants and local communities both now and in the future,” said Tim Schoen, CEO of BioMed Realty. “Investors and tenants are increasingly demonstrating a preference for sustainable buildings, and BioMed Realty’s ESG initiatives will continue to set our portfolio and Company apart. We are honored to be recognized as an ESG leader in our industry.”
BioMed Realty’s noteworthy accomplishments in environmental sustainability include:
- Increasing renewable electricity across the Company's operating portfolio, including on-site hosted solar power that will supply renewable electricity across select California assets in the Bay Area and San Diego markets, with commercial operation beginning in 2025
- Implementing 175 energy-efficiency projects since 2016, including replacing HVAC cooling towers and implementing LED retrofits. These projects have collectively saved more than 38.7 million kWh of electricity
- Promoting health, wellness, and inclusivity throughout the entire project life cycle, while prioritizing healthy building certifications. For example, in April 2023, BioMed’s South San Francisco Gateway of Pacific’s world-class conference center, Forum, received Fitwel 2 Star certification
- Collaborating with tenants to pursue sustainable development, including partnering with Takeda Pharmaceuticals to target Leadership in Energy and Environmental Design (LEED) Gold and WELL Gold certifications at 585 Kendall (Cambridge, Massachusetts), an asset under development which is fully leased to Takeda
- As of June 30, 2023, within BioMed Realty’s US operating portfolio of 15.2 million square feet, 32 percent is LEED-certified. Of the 18.3 million square feet across the Company’s operating portfolio and in-process developments in the US, 42 percent will be LEED certified
- Successful implementation of tenant satisfaction surveys across the Company's operating asset base. These measures are designed to enhance tenant engagement, increase tenant satisfaction, and integrate feedback into future operations
- Incorporating ESG goals and policies for new construction and development, including optimizing electrification and integrating net-zero design strategies into projects
BioMed Realty’s ESG principles also include our commitment to research institutions, charities and non-profits in the communities in which we operate. The Company’s noteworthy partnerships include:
- Working to promote healthcare innovation and groundbreaking research by supporting and providing leadership to the Salk Institute for Biological Studies in San Diego and the University of Colorado Boulder’s BioFrontiers Institute
- Supporting over 65 hunger-relief organizations across 22 US regions through the Company’s partnership with CoreGiving, a leading non-profit focused on combating child hunger
- Strengthening workforce readiness in the biotechnology industry through the Company’s support for the Gloucester Marine Genomics Institute in Massachusetts
To learn more about BioMed Realty’s ESG initiatives, visit: https://www.biomedrealty.com/values
About BioMed Realty
BioMed Realty, a Blackstone portfolio company, is a leading provider of real estate solutions to the life science and technology industries. As of June 30, 2023, BioMed Realty owns and operates high-quality life science real estate comprising 16.7 million square feet concentrated in leading innovation markets throughout the United States and the United Kingdom, including Boston/Cambridge, San Francisco, San Diego, Seattle, Boulder and Cambridge, U.K. In addition, BioMed Realty maintains a premier development platform with 2.9 million square feet of Class A properties in active construction in these core innovation markets to meet the demand of the life science and technology industries. To learn more about BioMed Realty, visit biomedrealty.com and follow the Company on X @biomedrealty.
